Pay £34,000 extra to live near England's top state schools, research shows | Europe | News

Pay £34,000 extra to live near England's top state schools, research shows | Europe | News

Parents face parting with almost £34,000 extra to secure a home close to the country's top performing state schools, according to new research by Lloyds TSB.
In 2012, house prices in the postal districts of the top 30 state schools in England, defined as those secondary schools that achieved the best GCSE results1 in 2011, were on average £33,631 or 12% higher than the neighbouring locations in their county. The house price premium associated with living close to the country's top state schools is almost three times the average annual private school fee of £11,422.
Overall, the typical price of a home in the postal districts of England's best state schools is £303,902. This is almost a third higher, 29% or £67,581, than the average house price across England of £236,321.
The postal districts of six of the 30 top state schools command a house price premium of over £100,000 compared to their surrounding locations. Homes in the postal district of the Henrietta Barnett School in North London have the largest premium with homes trading at a premium of 91%, or £394,282, compared to the average house price in neighbouring areas.
Homes within the postal district of the Altrincham Grammar School for Girls command the second highest premium with house prices in this Cheshire postal district trading at a premium of 74% or £148,516, compared to the county average.