Demand for Homes Close to Outstanding Rated Schools
August, 2024
The government announced plans to impose VAT on private school fees to fund improvements in public education.
The current exemption from value-added tax (VAT) will be removed to fund 6,500 new teachers in England. VAT at the standard rate of 20% will be added to private school fees starting 1 January 2025.
In a poll of agents, 24% report noticing an increase in demand for homes close to outstanding rated schools, directly associated with the announcement.
Just 15% of schools are judged to be Ofsted Outstanding, but 90% achieved the rating: Good or Outstanding, up from 68% in 2010 – suggesting that standards are continuing to improve. (Department for Education). Source: Dataloft by PriceHubble poll of subscribers. Poll 24th July 2024
