Purchasing a home in the vicinity of a top-tier state school in England can lead to a property price premium of up to £275,000, according to recent data. The highest premium is observed for properties near Bishop Vesey's Grammar School in Sutton Coldfield, where homes in the B74 postcode district average £509,964. This figure represents a 54.1% increase compared to the Birmingham average of £234,150.
On average, homes in postcodes associated with the top 50 state secondary schools command a price of £415,791. This is £40,574, or 9.8%, higher than the average price in the wider local authority areas where these schools are located. This trend underscores the significant value parents place on proximity to high-quality education when choosing a residence.
Other areas with notable property price premiums include locations near Sutton Coldfield Grammar School for Girls, where the average home in the B73 postcode district costs approximately £402,432, a premium of £168,282 (41.8%). Dr Challoner's Grammar School in Amersham sees homes in the HP6 postcode district averaging £796,141, about £305,633 (38.4%) above the Buckinghamshire average. In London, properties near The Henrietta Barnett School in the NW11 postcode district command a 37% premium compared to the Barnet average, equivalent to an additional £354,288.
Several other schools also contribute to this trend. Homes near Dr Challoner's High School in Little Chalfont command a 32.8% premium. Altrincham School for Girls and Altrincham School for Boys in WA14 see a 28% premium. Sir Thomas Rich's School in Gloucester has a 27.1% premium, Langley Grammar School in Slough has a 25.9% premium, and Colyton Grammar School in EX24 has a 25.1% premium.
Verona Frankish, chief executive of Yopa, commented on the findings, stating that school quality is a primary consideration for many homebuyers with children. She noted that sustained demand in these areas naturally supports higher house prices. Frankish advised parents to carefully consider the additional costs associated with buying in their desired school catchment areas, especially given current market conditions, including higher mortgage rates.
However, the data also highlights areas where proximity to a reputable state school does not necessarily incur a steep price premium. For instance, near Reading School and Kendrick School in Reading, the average property price is £276,870, which is £84,373 (30.5%) below the wider Reading average. Similarly, homes in the BT28 postcode district, home to Friends’ School Lisburn, are 30.2% below the Lisburn and Castlereagh average. The N9 postcode district, home to The Latymer School in London, is 30.1% more affordable than the wider Enfield average.
Frankish suggested that these areas could offer families the best of both worlds for those willing to broaden their search. A school's catchment area, the geographic zone from which students are prioritized for admission, often drives demand. Limited supply of homes within these high-demand catchments can contribute to price increases.