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Mortgages: Parents look for properties in school catchment areas

By Jonathan Dawes, Tue 23 Aug 2011 - Published in Mortgages

Parents looking to buy a new property say that getting a dwelling in the catchment area of a good school is important.

This is according to research by Santander Mortgages, which found that over a third of mums and dads with children under ten believe it is imperative for their kids to have the opportunity to go to a good educational establishment.

On top of this, many parents are willing to pay over £12,000 extra for a dwelling in the right catchment area.

Phil Cliff, director of Santander Mortgages, said: "People are increasingly concerned about the value of a good education, and in some areas of the country, there is a significant amount of competition for places at sought-after schools."

Recently, the Post Office revealed that the average age for first-time property buyers in the UK is 35, which is eight years older than people who bought homes back in the 1960s.