Introduction:
There is a global trend of higher performance and ranked school have higher priced houses in their catchments (Bae & Chung, 2013; Figlio & Lucas, 2000; Leech & Campos, 2003). By fully understanding the relationship between these variables, prospective parents and homeowners can make informed decisions when buying and selling property; and policy makers ensuring that children from a variety of socio-economic backgrounds have fair access to quality education. In this paper, I investigate the relationship between Ofsted ranking of secondary schools and property prices in Sheffield. The hypothesis was that property prices in better Ofsted ranked school catchment area are higher.
Methodology:
I imported the vector data sets for Sheffield’s secondary school catchment areas which was provided by University of Sheffield Urban Planning department and Sheffield’s property prices 2010-2016 which were downloaded from Land Register (2018), into ArcMap. GIS was used for this study as it enables two kinds of data to be displayed on the same map through multilayering mapping. This is advantageous as it shows a direct visual comparison of house prices and Ofsted ranking in
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Outstanding Ofsted ranked schools have the highest property prices compared to good, requires improvement and Inadequate ranked schools where the results vary and there are many outliers. The highest property price of £351, 011 is in the catchment area of Silverdale school which ranked outstanding on their Ofsted report. Most surprisingly, the lowest property price of £75,476 is in the catchment of Firth Park Community Arts College which ranked good on their Ofsted report. Further statistical tests support that there is a weak relationship between Ofsted ranking and house prices (r_s=-0.31). In addition, they show the results are statistically significant
The housing market is very unique as unlike other goods and services, houses have permanence, it is a fixed location good causing the rules of supply and demand to be taken to new extremes. In the case of the Toronto housing market we can view in almost real time the role supply and demand play on he ever increasing house prices, additionally the fundamental economic issue of scarcity is made extremely apparent by the limited size of the city of Toronto.
The need to reduce these imposts is a key driver for continued improvement in Council processes to streamline the approval of housing related development applications. There is a direct correlation between the cost of housing and the time it takes for Council approval to be obtained for a development. It is the intention of this project to isolate the unnecessary costs and, where possible, remove them from the assessment process.
Important in discussing the scope of the housing affordability crisis in rural England is taking into consideration housing affordability in England as a whole. A recent survey using ONS data shows that “since 2003 the average house price has gone up by £100,000, whereas the average annual salary has risen by just £6,570.” While this data includes non-rural England including London, “even removing London and the South East the average home h...
People commonly believe that property values decline when blacks or non-whites move into a neighborhood. However, the real reason why property values decline is because of whites moving away and taking their resources with them. White homebuyers fear that property values will decline rapidly when nonwhite residents begin moving into a neighborhood. What they do not take into consideration is that the nonwhite residents may be their socioeconomic equals. Instead, they focus on race—they categorize individuals into socioeconomic classes on the basis of race.
With this many students, both state and federal representatives have made efforts to adopt reforms designed to make a solution to the funding inequality. The disproportion of funds first and foremost effects the amount of programs offered to children that vary from basic subjects such as: English, Math, and Science. This created the motivation to improve the quality of education for low-income neighborhoods by targeting resources other than property taxes and redirecting the states budgets. The goal the school districts all shared was the need to increase instruction, add after school activities, promote a well-rounded education, physical innovations to facilities and classrooms, and to update the academic resources. The popular demand that the funding to public education needs to correspond throughout all the school districts. Wealthy tax payers often argue that a region that depends on property taxes is the “American way.” This argument derives from the ideology that American success relies on perseverance and hard work, but if the playing field is uneven the higher born student has an advantage. “High property taxes—the burdens and perverse incentives they create, the rage they generate, the town-to-town school funding inequities they proliferate—…represent an endless New England nightmare…” (Peirce and Johnson, 2006). In the attempt to
William Goetzmann, a. L. (2006). Estimating House Price Indexes in the Presence of Seller Reservation Prices. Review Of Economics and Statistics. pp. 100-112.
On the other hand, the poor are stuck with insufficiently-funded public schools. Because neighborhoods are segregated by class and education, schools are financed mostly from local property taxes and state taxes. Children from different school districts will therefore have different qualities of education depending on the class of the community in which they live. For example, in Texas, the ten highest school districts spent $5,423 per student compared to $1,848 per student for the 10 lowest school districts (Kalra 274). The difference in expenditures affects class sizes, teacher's salaries and the facilities.
Then comes the education part, where according to the author Jonathan Kozol in his book Savage Inequalities Children in America’s schools, property tax is one of the main financial distributions that goes towards local schools. In Kozol’s book he quotes that, “typically in the United States, very poor communities place high priority on education, and they often tax themselves at higher rates than do the very affluent communities.
Compare and contrast the ways in which housing inequalities are discussed from the perspectives of social policy and criminology, and economics (TMA 02)
Nevertheless, the previous researches were either focused on the role of affordable housing associating with residential stability or educational improvement for children and employment outcomes for the adults (Manturuk, 2012). Others also emphasized that affordable housing could contribute to community-wide economic development, both for troubled and vibrant communities (Lubell et al., 2007). In addition, even the past researches started to examine the impact difference from various categories ownerships versus; however, the subcate...
Ellig, J. (1999). Issue Analysis 96-School Choice:Issues and Answers. [55 paragrphs]. Retrieved April 3, 2003 from the World Wide Web: www.cse.org/informed/issues_template.php?issue_id=669
“While there is significant variation across regions, within the cities and within the rural areas, the most significant inequality is between the urban and the rural” (Saich, 2011:316).
There are numerous accounts for why schools receive unequal funding. Some schools may reside within wealthy areas where the property taxes are higher. According to the Thomas B. Fordham Foundation & Institute in "Fund the Child: Tackling Inequity & Antiquity in School Finance”, the amount of money a school gets depends on where it is located. Some schools may be within wealthier neighborhoods and receive more money as a result. For Example, the 2010 Public School Review report from the Modoc Joint Unified School District in California shows that the high school spends $7,858 per student whereas the 2010 Public School Review report for Tamalpais Union High School District in California shows that the school spends $19,821 per student (2010 Pubic School Review). This serves as a great disadvantage for students who do not live in wealthy neighborhoods because their schools are not receiving the proper funding...
Most people, today, are looking forward to buying their first property. When individuals decide to buy a house those individuals would have to look at all their options and all the advantages and disadvantages that come from purchasing a house. The economy plays a huge role in the decision whether people will purchase a house, purchase a condominiums, or rent property.
Valuation of real estates or properties basically, refers to appraising a property or a real estate to form an opinion about the value of the property. This value is normally the properties’ market value. Properties are heterogeneous in nature; meaning they are not all identical or alike and thus, they have different values. However, it is possible to get a range for the values. There are some obvious factors like physical location of a property that automatically makes the market value of different properties differ. The materials used on a property and other features also contribute to making property differ in their value. Other factors such as the physical size of a property still determine a property’s market value (Histon Fine Homes, 2008