The premium parents face to live near Ofsted rated ‘outstanding’ state secondary schools has dropped to £175,022, a decrease of over £20,000 over the past year, according to Trussle.
The survey completed by 2,000 homeowners with children showed that 78% would consider moving home to be closer to an ‘outstanding’ rated secondary school, and 75% would be willing to pay a higher property price to do so, with 54% willing to pay as much as 10% above the average market rate.
Of the postcodes Trussle surveyed, over 76% had property prices above the average English house price of £271,000.
As was the case in 2020, London continued to dominate the price rankings, with 16 schools in the 20 most expensive postcodes, and a top price of £4,042,394 for a home near The St Marylebone CofE School.
There was also a high proportion of schools in the South East climbing the ranks, which Trussle said was linked to the trend of buyers searching for properties with more outdoor and indoor space, with almost half (47%) of parents stating the pandemic has led them to consider moving to a less populated area with more space.
For parents looking for an affordable property near an ‘outstanding’ school, Trussle found that 160 postcodes offered house prices below the average house price in England.
The most affordable location was Peterlee, County Durham (£98,080), overtaking Bradford which was the most affordable city in 2020.
Miles Robinson, head of mortgages at Trussle, said: “There is no doubt that the pandemic has changed many aspects of our lives, including our choice of careers, how we spend our time and how we keep in touch with loved ones.
“However our research shows one thing that hasn’t altered; parents’ prioritisation of their children’s education when it comes to choosing a suitable family property.
“The housing market has been thriving since it reopened following lockdown, bolstered by the stamp duty holiday.
“The high levels of demand have acted as a catalyst for growing house prices across the country, whilst city centre locations like London, have suffered small dips in prices.
“This is good news for parents as the elevation of property prices across the board has led to a reduction in the premium parents face when choosing a home close by to an ‘outstanding’ rated secondary school.”