House prices near top 30 state schools are ‘12% higher’

Parents are paying “premiums” of on average £31,500 for a home in an area with one of the UK’s leading state schools, according to research from Lloyds. This is from the Guardian

The findings are are likely to reignite the controversy surrounding schools selecting by parents’ ability to afford to live somewhere.

Property prices within postcodes with the top 30 sought-after secondary state schools are 12% higher than the average price in the rest of the county, at an average of £295,972, or almost nine times average annual earnings for a full-time male employee at £33,740.

Properties close to the top state schools command a housing premium of more than £80,000 in almost a third of cases.

The north-west has the largest premium, with average house prices in the postcode of the top 10 state schools in the region trading 28% – or £43,142 – above the average house price in their county.

This is followed by Yorkshire and the Humber, with a premium of 18%, and London at 15%. In contrast, house prices in the East Midlands that are close to the best performing state schools are on average 6% lower than in neighbouring locations.

The most expensive catchment area of a state school in Britain is that of the Henrietta Barnett all-girls grammar school in Barnet, north-west London, where the average house price trades at a premium of 87% or an average of £402,600.

Homes within the postal district of Tiffin girls’ school and Tiffin school in Kingston-upon-Thames commanded the second highest premium, with house prices in the KT2 postcode trading at more than double the average for the borough at £207,591.

However, more than a third of England’s top 30 state schools are in locations where the average property price is less than the average of those in neighbouring areas. With an average price of £94,843, properties in the catchment of King Edward VI Handsworth school in Birmingham, B21, for instance, are 42% or £67,738 below the county average. Meanwhile, prices in the surrounding area to Kendrick school and Reading school were £108,033 lower than the county average.

The research is based on average asking prices in June 2013 and GCSE results taken from 2012…

More at:  House prices near top 30 state schools are ‘12% higher’

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Comments

  1. Ed_Tmprince

    “SchoolsImprove: House prices near top 30 state schools are ’12% higher’…. Supply and demand… Pure economics!

  2. PeteBeaumont68

    SchoolsImprove it means that one way or another the aspiring middle classes will always pay to get their kids away from kids of the proles!

  3. Philip_Britton

    SchoolsImprove Odd that for some spending money to live next to good school is acceptable, spending it on a good independent school is not

  4. Philip_Britton

    SchoolsImprove Also HMC_Org independent school bursaries improve social mix – no bursaries for house buying next to good state schools!

  5. trutheducation

    SchoolsImprove Same true for areas with top performing/sought after primaries where you often need to live less than 500m from gate.

  6. ScarletBanna

    Philip_Britton SchoolsImprove Not odd at all. Some want a non-selective education without the sense of entitlement of many indies.

  7. christoclifford

    Philip_Britton SchoolsImprove If everyone went to a good State School you would have a good social mix anyway

  8. DeniseWalford

    SchoolsImprove but the schools are grammar – you don’t get in because you live near, you have to pass the test. Lazy journalism

  9. MsRiddlesRoom

    DeniseWalford SchoolsImprove Yes but people don’t know that. Also some grammar schools will be once again offering places to local kids.

  10. DeniseWalford

    MsRiddlesRoom SchoolsImprove Who doesn’t know that? The parents paying £1000s for tuition? NONE of my local grammars have “local slots”

  11. MsRiddlesRoom

    DeniseWalford SchoolsImprove …also several years ago when we had priority for locals people complained of house price rises & poor…

  12. MsRiddlesRoom

    DeniseWalford SchoolsImprove … people not being able to afford to live in area so we got rid of that, now locals complain can’t get in

  13. DeniseWalford

    MsRiddlesRoom SchoolsImprove Not really. Why would such a move be a secret? Who’s interests are being protected?

  14. MsRiddlesRoom

    DeniseWalford SchoolsImprove It’s not a secret, I just know it’s in the works and I’m sure will be announced by the proper folks in time

  15. MsRiddlesRoom

    DeniseWalford SchoolsImprove Still hammering out details I believe. Don’t be so paranoid,I’m a teacher not MI6!

  16. DeniseWalford

    MsRiddlesRoom SchoolsImprove If you’re not meant to talk about it my advice is don’t. Do you call students paranoid for asking questions?

  17. MsRiddlesRoom

    DeniseWalford SchoolsImprove Wow you are clearly a weirdo. Of course one can talk without revealing school identity. Happens in press…

  18. MsRiddlesRoom

    DeniseWalford SchoolsImprove …all the time. Sorry I thought I was having a sensible discussion but there is clearly no pleasing you…

  19. MsRiddlesRoom

    DeniseWalford SchoolsImprove …Good luck with getting your child into a grammar school. Like I was saying, should be more places soon.

  20. DeniseWalford

    MsRiddlesRoom Name calling, really? Goodness me. Just checked your profile – what a very angry lady you are. I am a teacher by the way

  21. DeniseWalford

    MsRiddlesRoom Name calling, really? Goodness me. Just checked your profile – what a very angry lady you are. I am a teacher by the way

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