Posted on 6.9.16
House prices within the areas that contain the 30 schools with the best 2015 GCSE grades are £366,744 or 17% higher than the average asking price.
Lloyds Bank has found that in the districts of 30 schools with the top 2015 GCSE results, average prices are shockingly more than the normal price.
A typical house near top-performing Beaconsfield High School in Buckinghamshire sells for £996,212 which is almost three times the county average £367,191. Homes in areas such as this mean that families will pay a premium of £53,000 to live near one of these top performing schools.
Research suggests that some parents will have to pay a further increased premium; properties in the Beaconsfield High School district in Buckinghamshire have the largest premium to pay, with homes trading at £629,021 more than the county average house price of £367,491.
Parents who bought a home near one of the top 30 schools just before their child first entered secondary school in 2011 have seen average house prices increase of £76,000. This is considerably quicker growth than in England as a whole, where the average house price has increased by £42,145 over the same period of time.
The research shows the district and the county, as well as the average house price near to the school, the typical house price in the surrounding county, as well as the premium that parents can expect to pay:
- Beaconsfield High School area (£996,212) Buckinghamshire (£367,191) 171% premium
- The Henrietta Barnet School area (£1,011,016) Barnet (£581,510) 74% premium
- Sir William Borlase’s Grammar School area (£587,272) Buckinghamshire (£367,191) 60% premium
- The Tiffin Girls’ School area (£721,078) Kingston Upon Thames (529,066) 36% premium.
- Dr Challoner’s High School area (£535,498) Buckinghamshire (367,191) 46% premium.
- Altrincham Grammar School for Girls area (£380,847) Cheshire (229,127) 66% premium.
Buying a property close to a top ranked state school has been described as a “shrewd investment”.
If you are looking at buying a new property and are looking for legal advice, our team can help you. As experienced conveyancers we’ll discuss each of the steps to be undertaken when buying your home, so you can have all the information you need to make the best informed decisions. To get a quote for your property purchase you can call our Residential Property team on 0343 507 5151, e-mail us at firstname.lastname@example.org, fill in our online form or use our conveyancing guide to obtain a quote.