Buying near top schools incurs £53,000 premium

Ryan Bembridge

September 5, 2016

Buying homes near England’s top 30 performing state schools typically incurs a £53,000 premium compared to surrounding areas, Lloyds Bank data shows.

Purchasing property in the same postcode as the best schools typically costs 17% more than the the corresponding county – on average £366,744 compared to £313,318.

The most significant premium is near Beaconsfield High School in Buckinghamshire, where average house prices near the school are just under £1m (£996,212) compared to £367,191 in the county.

Andrew Mason, Lloyds Bank mortgage products director, said: “Schools with the best exam performance are proving to be an increasingly strong draw for homemovers, as we’ve seen house prices rise sharply in locations close to such schools.

“Our analysis shows that since 2011 average house prices in areas with the best state schools have increased by £76,000, compared to a national increase of £42,145. And seven of the areas covered in this survey have seen house prices rise by over £100,000 in the last five years.

“The popularity of areas close to high performing schools may mean that homes remain unaffordable for buyers on average earnings.”

The top 30 state schools were ranked by which achieved the strongest GCSE results in 2015.

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