Working Paper

Causal Effects of Changes in Ofsted School Ratings on Local Housing Sale and Rent Prices

This study examines whether sustained improvements or deterioration in Office for Standards in Education, Children’s Services and Skills (Ofsted) school ratings affect nearby housing prices in England. Using a large sample of UK housing listings from Zoopla and applying the Individual Synthetic Control (ISC) method, we analyse changes in school quality and their relationship to local rental and sales markets across thousands of primary and secondary schools.

By Xiang Ao, Daniel Valdenegro, Douglas Leasure, Wenlan Zhang, and Melinda Mills