Buyers are spending up to 102% more on property to live near the best schools, the latest research from estate agent comparison site GetAgent.co.uk reveals.
GetAgent’s research used data on house price values surrounding every primary and secondary school in England and the premium of buying close to a top-performing school at both levels of education.
In terms of the best performing primary schools, which the comparison site used schools where 40% or more of pupils are receiving high scores in reading and maths, the average house price is 102% more than the national average.
In regards to secondary schools, where 80% or more of pupils are achieving strong passes in both english and maths GCSEs, the average house price is 44.4% higher than the national average.
Colby Short, founder and chief executive of GetAgent.co.uk, said: “We know that the close proximity of any sought after amenity can lift a property’s value, but living close by to a school is up there with the most important for parents and whether it’s that all-important catchment area or the ease of carting the kids back and forth every day, parents will always pay when house hunting.
“While secondary schools command a higher price on the whole, it’s clear that when it comes to the best schools, it’s primary level education that sees home buyers pay the most.
“This is not only to ensure they get the best start during their school life but due to the younger age kids aren’t yet able to cycle, walk or get public transport to school alone, and so this additional peace of mind and convenience is preferable for parental home buyers.
“This demand coupled with the long-term investment in a property and the potential of better exam results at the end of it is what causes these much larger property price premiums around the best schools in particular.”