Popular state schools ‘creating mini house bubble’

The Telegraph is reporting that the most popular state schools are creating a mini – but very expensive – housing bubble all on their own…

A new study of Britain’s most popular and highest achieving secondary schools shows that house prices in their catchment areas are, on average, more than 20 per cent higher than those just outside.

The findings suggest a greater than ever squeeze on family homes near the best state schools. Some have catchment areas, according to the study, of as little as 600 yards causing a frenzy when houses come on the market.

Research by the Good Schools Guide and Savills estate agents shows that on average parents are prepared to pay an extra 22 per cent to live close to some of the best state secondary schools, which are often grammar schools.

In one case, Savills discovered that homes sharing a postcode with one girls’ grammar school in south Manchester were worth a staggering three times more than the price of an average house in the same local authority. One girls’ grammar school in north London – which is regularly rated the “highest performing” state school in the country – has seen houses in its vicinity worth two and a half times the average for the rest of the local authority.

The extent of the premium has been exacerbated by an increased interest in state schooling in the wake of the financial crisis that plunged Britain into a long recession. That prompted parents who would previously only ever consider sending their children to private schools to look at state schools instead…

Janette Wallis, of the Good Schools Guide, which produced the research in conjunction with Savills, said she suspected that the credit crunch was only partly a factor in the large premiums being paid to live near good state schools. The Good Schools Guide reckons that fears that private school pupils are being discriminated against by the leading universities has led to a scramble for places at the best state schools…

More (including a list of the ‘most desired’ state schools at: Popular state schools ‘creating mini house bubble’

Should we celebrate or be concerned that some state schools are so popular as to have such as impact on local house prices? Is it a further argument for alternative admissions approaches such as lotteries and fair banding? Please give us your feedback in the comments or via Twitter…

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