House Prices and School Quality: The Impact of Score and Non-score Components of Contextual Value-Added

Sofia Andreou () and Panos Pashardes

University of Cyprus Working Papers in Economics from University of Cyprus Department of Economics

Abstract: This paper investigates how the newly introduced Contextual Value Added (CVA) indicator of school quality affects house prices in the catchment area of primary and secondary schools in England. The empirical analysis, based on the data drawn from three independent and previously unexplored UK data sources, shows that the score component of CVA has a strong positive effect on house prices at both primary and secondary levels of education; while the non-score component of this school quality indicator has a significant (negative) effect only in the analysis of secondary school data. Nevertheless, the effect of CVA and its score and non-score components on house prices also varies with the level of spatial aggregation at which empirical investigation is pursued, assuming a more positive role between rather than within Local Authorities (Las). This reflects the emphasis placed by CVA on public good aspects of school quality and suggests that LA policies aimed at raising the average non-score quality characteristics of school conform to household preferences.

Keywords: School quality; hedonic regression; house prices (search for similar items in EconPapers)
Pages: 26 pages
Date: 2010-07
New Economics Papers: this item is included in nep-lab, nep-mic and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ucy:cypeua:05-2010

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