Parents cheat school catchment system
The data found that nearly half of families plan to cheat the system in such a way, which would negate the property premium of living in such areas which currently stands in excess of £32,000.
Some parents are willing to make significant sacrifices to live in a school catchment area, as one in four ditched living in their dream home to be near a good school while almost a third had to change jobs as a result.
Miguel Sard, managing director of mortgages, Santander UK, said: “With competition for school places fiercer than ever, parents are making significant financial and lifestyle sacrifices to be within the catchment area of desirable schools.
“All buyers will have a wish list of what they want their new home to have and being within a certain school catchment is increasingly common amongst young families – but can often come at a cost.
“Many of these sought-after areas command significant premiums, so it’s important that parents don’t stretch themselves beyond their means if they are looking to move.”