We all know that houses within the catchment areas of the best schools tend to be much more sought after – and therefore potentially much more expensive – than those either out of catchment areas or close to schools that parents would do anything to avoid sending their children to. So, if you do live outside the catchment area of the school you want your child to go to, what do you do?

Either you’re lucky enough to have sufficient funds to move nearer the school. Or you cheat. I know parents who have bent the rules when getting their children into a good school – some have rented nearby (and rented their own homes out in the meantime). Others have bought rental properties nearby and used these addresses to apply from – covering the mortgage on the property itself by letting it out to renters. And then, of course, some people just stay temporarily with friends or family who live within the catchment area.

So what’s fair and what’s clearly not? It’s not fair – but perfectly legal – that people who can afford to buy a house near the school do so when others can’t. But then, it’s our desire to send our kids to good schools that drives the house prices up in these areas. It’s not fair that people buy a rental property in which they pretend to live so that they can apply to the school they want their children to go to. But how can local councils police every single application to find out if they are really living there? And it’s not fair that children who go to good schools because their parents are either wealthy or lucky enough to be able to send them there grow up to be better paid, better educated adults, who then ensure their children go to good schools, too. But then that’s capitalism for you.

So, just how far would you go?

If you’re looking for clarification of Sarah’s remarks about the housing market, we have our own expert take on the property market. It’s realistic, it’s not all pretty, but it’s by our expert Kate Faulkner, who knows exactly what she’s talking about. Don’t miss it. And let us know what you thought of last night’s show, too.

After spending an entire morning 15 minutes or so playing around with the remarkably detailed search tool (’I need a house that’s Grade II listed, with a balcony and high ceilings, please’) I came up with these five bargain properties, all of which could be yours for £50,000 or less. There’s none of that shared equity stuff here, nor are there any flats. Each of these houses might need a bit of TLC, but all come in at about one-third of the country’s average house price.

1. Nottingham, three bed terrace, £40,000

Listing info: For sale by auction: terrace property with three beds which is freehold.

2. Ipswich, three bed semi, £49,950

Listing info: Fancy a challenge? If so, then this is the property for you! Located towards the south/east side of Ipswich is this spacious three bedroom semi detached property which is in need of a complete renovation throughout. Miss it – Miss out.

3. Swansea, three bed mid terrace, £49,995

Listing info: Situated in a cul-de-sac of similar properties, we offer for sale this 3 bedroom mid terraced property. The accommodation which is on two floors briefly comprises; entrance hall, lounge, kitchen with bathroom opening off. On the first floor there are three bedrooms. The property is in need of updating and decoration but may offer an ideal opportunity for investors or first time buyers.

4. Middlesbrough, three bed end terrace £50,000

Listing info: For sale by auction: terraced house with three beds which is freehold with vacant possession.

5. Blackpool, two bed terrace, £50,000

Listing info: For sale by auction: terrace property with two beds needing updating, which is freehold with vacant possession.

Why not have a play around with the 4Homes Property Search for yourself? Please leave your comments below…

Is this the start of the great house price recovery? Probably not. With the economy predicted to contract by 3.5% this year, unemployment set to rise, and the general scarcity of lending capital showing few signs of abating, May 2009 could well be a blip on the graph.

According to the Nationwide House Price Index, April saw a 0.3% fall (-15% year-on-year), while May’s 1.2% rise puts average house prices 11.3% down on 2008 prices.

Whether the recovery’s started or not, it does at least look as though the rate at which prices fall should be wholly more manageable than in 2008.

Learn more about how house prices are calculated, or read the full May 2009 Nationwide House Prices Report.

Which way do you think house prices will go? Has the market bottomed out? Let us know your thoughts by leaving comments below…

Kate Faulkner wrote a great piece for us on understanding conflicting house price reports, which is well worth a peek. If you want to make up your own mind, here’s some of the latest house price reports for your perusal.

Rock kickstarts lending with 70% rise in home loans
This Is Money

Property prices on the rise
South West Business (West Country)

Nationwide are warning us about getting carried away, though. It’s far to early to talk about a market recovery, although right now I think we’re all just content with a bit of market stabilisation.

You can read the full Nationwide March House Price Report here, and find out how Nationwide calculate their house price statistics here.

How will a rise in prices affect you? Can you see light at the end of the tunnel, or will the market start falling again? Please leave your comments below…

Now, Sarah Beeny is to examine how developers have adapted to a falling market, meeting some of the big winners and losers of the house price slump.

Her new show, Property Snakes And Ladders, forms part of the Channel 4 spring/summer schedule. Expect to see it on your screens in the not-too-distant future.

Are you a property developer? Interested in what Sarah will have to say in her new programme? Leave your comments below…

The article is by Kate Faulkner, who is a real expert on all things property and homes-related.

Read the full article on what makes house prices rise and fall.

While gross lending may be down, the number of individual mortgage approvals rose from just over 24,000 in January to 28,179 in February. This figure is inevitably well down on 2008, but it suggests that more people are buying more houses for less money. Sellers are willing to accept lower offers and those previously priced out of the market are finding themselves in a position to buy. With London house prices stabilising, there are some genuine signs of a modest market recovery and a correction of house prices to more realistic levels.

Findaproperty.com have more detailed info – note that mortgage approvals for house purchases are up, while remortgaging approvals are down.

What do you think about the latest figures, and how do they affect you? Please leave your comments below…