End to school rating system could play havoc with house prices, says Ofsted chief

Martyn Oliver says he knows of property values shooting up by 15,000 after schools were graded as outstanding

House prices in England could be put in turmoil by the government's scrapping of headline school grades such as outstanding or inadequate, according to Ofsted's chief inspector.

Speaking at an education conference, Martyn Oliver said parents and schools had become familiar with headline grades after 30 years of use, saying he knew of house prices shooting up by 15,000 after nearby schools were graded as outstanding.