£300,000 to buy a house near England's top state schools
27 October 2013
- Parents pay a house price premium of £31,500 to live close to a top state school
Parents looking to purchase a home close to one of the country's top 30 performing state schools face paying an average house price of £295,972, according to new research by Lloyds Bank.
Average property prices in the postal districts of the top 30 state schools in England – defined as those secondary schools that achieved the best GCSE results1 in 2012 - were on average £31,490 (12%) higher than the neighbouring locations in their county (£264,482).
A third of locations close to the top state schools command a housing premium of over £80,000
Nine of the 30 top state schools are in locations that command a house price premium of over £80,000 compared to their surrounding locations. Homes in the postal district of the Henrietta Barnett School in North London have the largest premium with homes trading at a premium of 87% (£402,600) to the average house price in neighbouring areas. Homes within the postal district of Tiffin Girls' School and Tiffin (Boys') School in Kingston-upon-Thames command the second highest premium with house prices in the postal district of KT2 at a premium of 51% (£207,591) to the average for the borough