Parental home buyers are paying up to 102% more to live near the top performing schools, according to research.
Its figures show that home buyers are paying 28.6% more than the average house price in England to live near a secondary school and 19.7% more to live near a primary school.
When looking at top tier primary schools, where 40% or more of pupils are achieving high scores in reading and maths, the average house price climbs to £499,249 – a 69.6% house price premium compared to schools with a score below 40%, and 102.3% more expensive than the national average.
When looking at secondary schools where 80% or more of pupils are achieving strong 9-5 passes in both English and mathematics GCSEs, the average house price again increases to £356,274; a 13.1% property price premium when compared to schools with a score below 80% and 44.4% higher than the national average.
When comparing the two, property around the best primary schools sells for 40.1% more than property surrounding the best secondary schools.
Parents strive to ensure their children get the best start during their school life, but due to the younger age, they aren’t yet able to cycle, walk or get public transport to school alone, and so this additional peace of mind and convenience is preferable for parental home buyers.
Living close by to a school is a priority for parents, and whether it’s that all-important catchment area or the ease of the school run, parents will always pay a premium for these when house hunting. Secondary schools command a higher price on the whole, it’s clear that when it comes to the best schools, it’s primary level education that sees home buyers pay the most.