In a gloomy property market one golden rule still rings true – good local schools mean higher house prices. of Knight Frank explains the effect on buyers.

A sunny September is forecast and that means one thing: the summer holidays are over and it’s back to school. For Kent, with an array of excellent schools, it’s a particularly busy time.

For some, however, the school gates remain closed, as even schools which look healthy to the outside world, are suffering in the hands of the credit crunch, with a number of well-regarded private schools going into receivership. All of a sudden, parents are struggling to cope with soaring fees, and schools are feeling the impact of the rising cost of food and fuel, forcing an unfortunate few to close.

So, those children who were going to be packed off to private school in their spanking new blazers are likely to be vying for a place at the top local state schools which are already full to the brim. Take Cranbrook, one of the top state schools in Kent, for example. The school is hugely oversubscribed by 100 per cent. It has an excellent reputation and with it, a strict admissions policy with a catchment area of 6.2 miles, outside of which, you are unlikely to get in unless you are a boarder. As its reputation continues to grow, the number of pupils trying to subscribe is likely to increase.

What will this mean for house prices in the homes surrounding such excellent state schools with their strict admissions policies? Schools are pivotal in the house-buying decisions of young families, and it has long been evident that with good schools come higher house prices – those houses in the catchment areas of good schools can command a premium of up to 20 per cent.

Despite the current property market, if you have a decent house in the catchment area of a good school the likelihood is that your property will be in demand.

Although the Government is trialling schemes for a fairer submissions system, the schools lottery system was criticised earlier this year, and I can’t see a change in the pattern of good schools commanding high house prices. Kent attracts families from far and wide, with a great variety of excellent grammar, independent and state schools.

Paul Hogarth is partner and head of new homes sales and marketing in the South East at Knight Frank. To contact his residential development team call 01483 564 660.