This is how much extra you’ll have to pay for the privilege...

  • By Annabel Dixon

    September 5, 2016 09:00
  • What’s the latest?

    Parents are prepared to fork out an EXTRA £53,000 for a home near a top English secondary state school.

    That’s £13,000 more than the premium ambitious parents were willing to pay last year, according to the Lloyds Bank research.

    Average property prices around the 30 top-performing state schools have now hit £366,744, compared with the county average of £313,318.

    Why is this happening?

    It's no secret that top schools push up local house prices. And the climbing price premium suggests that parents are attaching even greater importance to a good education for their children.

    Reception room of home for sale in Beaconsfield.

    Above: five-bedroom house for sale in Beaconsfield.

    Who does it affect?

    Parents already living near top-ranking state schools will be sitting pretty.

    In fact, those who bought a home near one of the top 30 schools just before their child first entered secondary school in 2011 have seen an average house price rise of £76,000 (from £290,683 to £366,744) in 2016 alone.

    That’s a significantly faster rise than in England as a whole, where average house prices have jumped £42,145 over the same period.

    But Andrew Mason, Lloyds Bank mortgage products director, warned: “The popularity of areas close to high performing schools may mean that homes remain unaffordable for buyers on average earnings.”

    Sounds interesting. What’s the background?

    House price premiums are an eye-watering £150,000 in six of the 30 state schools with the best 2015 GCSE results.

    Homes in Beaconsfield High School’s postal district, HP9, command the largest premium, trading at £629,021 above the county average.

    Find out where the other biggest house price school premiums in England are below....

    School

    County/borough

    House price

    Premium (£)

    Premium (%)

     

    Beaconsfield High School

     
    Buckinghamshire  £996,212  £629,021  171%  

    The Henrietta Barnett School 
    Barnet  £1,011,016  £429,506  74% 

    Sir William Borlase's Grammar School 
    Buckinghamshire  £587,272  £220,082   60%
    The Tiffin Girls' School  Kingston upon Thames  £721,078  £192,011  36% 
     
    Dr Challoner's High School
    Buckinghamshire  £535,498  £168,308   46% 

    Altrincham Grammar School for Girls 
    Cheshire £380,847  £151,720  66% 

    Stratford Girls' Grammar School 
    Warwickshire  £344,502  £87,725  34%  

    King Edward VI School 
    Warwickshire  £344,502  £87,725  34% 

    The Skinners' School 
    Kent  £394,904  £86,618  28% 

    Clitheroe Royal Grammar School  
    Lancashire £232,694  £79,455  52% 

    Top 3 takeaways

    • Parents pay an extra £53,000 to live near one of England's top-performing state schools.
    • At £629,021, homes near Beaconsfield High School in Buckinghamshire command the highest price premium.
    • Homes in six of the top 30 ranked state schools command a price premium of more than £150,000. 

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    What premium, if any, would you pay to live near a top state school? Tell us by posting a comment below...

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