£34,000 extra to live near England's top state schools
Parents face paying almost £34,000 extra to buy a home close to the country's top performing state schools, according to new research by Lloyds TSB.
In 2012, house prices in the postal districts of the top 30 state schools in England - defined as those secondary schools that achieved the best GCSE results in 2011 - were on average £33,631 (12%) higher than the neighbouring locations in their county.
The house price premium associated with living close to the country's top state schools (£33,631) is almost three times the average annual private school fee of £11,422. Overall, the typical price of a home in the postal districts of England's best state schools is £303,902. This is almost a third higher (29% or £67,581) than the average house price across England of £236,321.
The postal districts of six of the 30 top state schools command a house price premium of over £100,000 compared to their surrounding locations. Suren Thiru, Housing Economist, Lloyds TSB said: “In general, homes close to the nation's top performing state schools command a significant premium over neighbouring areas.â€
September 14, 2012
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