The watchdog previously rated schools as outstanding, good, requires improvement or inadequate, but is set to replace these single word judgements with a new report card scheme.
And now, analysis from Savills estate agency has suggested that the new system could enhance the premium paid for homes near the best-rated establishments.
How Ofsted grades are linked to house prices
Data collated by Savills show that the current rating system correlates with prices.
On average, the higher the grade, the higher the house price, as the data below shows.
For secondary schools the figure is 5 per cent.
Speaking at an education conference, Martyn Oliver said: “We’ve got two special measures schools right where I live, and the house prices shot up. They were both in special measures, both went outstanding, and the house prices went up £15,000 in a week. It does make a difference.
Is it the Ofsted grade doing the heavy lifting?
Although higher house prices appear linked to better Ofsted grades, the Savills analysis suggests other school performance measures actually have a better link to prices than they do.
Other performance measures, such as the proportion of pupils at a schools achieving the expected standard at Key Stage 2 (7-11), or the schools ‘Attainment 8’ score – a performance indicator at the end of Key Stage 4 (14-16) – also correlate heavily with house prices as shown below.
“Parents are judging the performance of school and the associated desirability of an area in different ways, often by reputation that is based on a long-term perception of track record, typically passed on by word of mouth,” he says, rather than just based on Ofsted grades.
How could the new Ofsted grades change things?
This is because the scorecards will give a “more nuanced overview of a school’s performance across a wider series of measures” than the current approach.
“It seems unlikely listings websites won’t find a way to display the new results where they paint a picture of an area’s desirability, even if it isn’t via a single word description,” Cook added.
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