Buyers seeking homes near top-performing state secondary schools in England face substantial property price premiums, with some areas commanding over £275,000 more than the local average, according to new data.
The steepest premium is observed near Bishop Vesey's Grammar School in Sutton Coldfield, where properties in the B74 postcode district are priced at an average of £509,964. This represents a 54.1% increase, or £275,814, compared to the Birmingham average of £234,150.
Data compiled by Yopa indicates that the average home in postcodes associated with a top 50 state secondary school costs £415,791. This is approximately £40,574, or 9.8%, higher than the average price in the wider local authorities where these schools are located.
Sutton Coldfield Grammar School for Girls also shows a significant premium, with homes in the B73 postcode district averaging £402,432. This is £168,282, or 41.8%, above the Birmingham average.
In Amersham, properties near Dr Challoner's Grammar School in the HP6 postcode district average £796,141, a premium of £305,633, or 38.4%, compared to the Buckinghamshire average.
London's Henrietta Barnett School is also among those with high premiums. Properties in the NW11 postcode district command a 37% premium, equivalent to an additional £354,288, versus the Barnet average.
Other schools with notable property price premiums include Dr Challoner's High School in Little Chalfont (32.8%), Altrincham Grammar School for Girls and Boys (28%), Sir Thomas Rich's School in Gloucester (27.1%), Langley Grammar School in Slough (25.9%), and Colyton Grammar School (25.1%).
Verona Frankish, chief executive of Yopa, noted that school quality is a primary consideration for many homebuyers with children. "This sustained level of demand naturally helps to support house prices within reach of the very best schools," Frankish said. She added that while the average premium is around £40,000, it can be considerably higher, emphasizing the need for buyers to factor in the additional costs, particularly with current market affordability challenges due to higher mortgage rates.
Conversely, some top state schools are located in areas with more reasonable property price premiums. For example, near Reading School and Kendrick School in Reading, the average property costs £276,870, which is £84,373, or 30.5%, below the wider Reading average. Homes near Friends' School Lisburn were 30.2% below the local average, and properties near The Latymer School in London were 30.1% more affordable than the wider Enfield average.
Frankish suggested that these areas could offer a balance for families willing to explore further afield. The concept of a catchment area, a geographical zone prioritizing school admissions, significantly influences housing demand and prices in surrounding areas. Limited supply in high-demand catchment zones often drives up property values.