Homes near England’s top state schools have an average house price of £415,844 – 45% higher than the English average according to new research by Lloyds Bank. This is £128,615 higher than in England as a whole (£287,229).
Average property prices in the postal districts of the top 30 state schools in England - defined as the secondary schools that achieved the best GCSE results - were on average £43,490 (12%) higher than other locations in the same county (£372,354).
Homes near Beaconsfield High School in Buckinghamshire pay the biggest premium of £643,181 (158%) compared to the average house price in neighbouring areas. Homes close to the Henrietta Barnett School in Barnet command the second highest premium of £367,632 (59%). These schools are followed by Dr Challoner's Grammar School in Buckinghamshire with a premium of £246,598 and the Tiffin Girls’ School and Tiffin School in Kingston upon Thames (both £167,628).
However, 14 of the top state schools are in locations where the average property price is below the average for the area. With an average price of £288,430, properties close to the Reading School and Kendrick School, both in Reading, are £132,718 (-32%) below the county average, which is the biggest discount for a house near a top performing state school within the survey. These are followed by Aylesbury High School in Buckinghamshire with a discount of £112,674 and King Edward VI Handsworth School in Birmingham (-£82,640) followed by Aylesbury High School in Buckinghamshire with a discount of £112,674 and King Edward VI Handsworth School in Birmingham (-£82,640).
Andrew Mason, Lloyds Bank mortgage products director said:
"All parents want to ensure their children get a good education, so it’s not surprising that homes in areas close to the top performing schools typically command a significant premium over the surrounding area and high demand has led to prices being out of reach for many buyers."