Parents pay almost £21,000 more on average to buy houses near top state schools, new research shows.
Research out today from Lloyds Bank suggests being in the neighbourhood of one of the top 30 state schools – defined as those with the best 2013 GCSE results – adds an extra 8 per cent, or £20,955, to the average house price.
Five locations close to the top schools command a hefty housing premium of over £115,000.
In the most extreme case, homebuyers in the postal district of Buckinghamshire’s Beaconsfield High School paying a premium of £483,031 – 154 per cent – compared to the average house prices in neighbouring areas.
However, half of England’s top 30 state schools are in bargain locations where property prices are below average for the surrounding area.
For example, at an average price of £134,261, properties in the postal district of Devonport High School for Girls in Devon (PL2) are 38 per cent (or £83,375) below the county average.
In cash terms, the largest discount can be found in the area close to Reading School where the average house price in RG1 of £212,994 is £107,979 lower than the Berkshire county average.
