Living close to one of England’s top primary and secondary state schools can add over £25,000 to the price of a house, according to new research.
Parents can end up paying a price premium of £180,000 to live near an outstanding rated state secondary school in England, a new study suggests.
Buying a home in England near a top rated secondary school costs on average £331,605 but falls to £292,933 for schools rated as good, new research has found.
Traditionally, many people have often sought homes which fall within the catchment area of a good school but new research suggests this is no longer the case and a budget supermarket is a bigger draw.
Being near a good primary school adds £18,600 to the average house price in England, government research has found.
A study by the Department for Education (DfE) has found prices are 8% higher near the best-performing primary schools and 6.8% higher near the best secondary schools.
Good schools have come out top in a survey of parents in the UK asked about their priorities when choosing a place to live.
Some 72% of parents placed a good local school among their top three, followed by 37% favouring somewhere with good transport links and 33% highlighting the importance of a community feel, according to the research from Redrow Homes.
Being close to family members came fourth overall but, while this was a big priority for 33% of mums, only 22% of dads saw it as important.
Parents in parts of the UK are willing to pay a premium of £32,000 premiums to move to a property within a desirable school catchment area, new research has found.
Almost a third of these parents had to change jobs in order to get their children into the desired school and one in four were forced to ditch their dream home and downsize, according to the study from Santander Mortgages.
Overall some 26% of parents with children of a school age have either bought or rented a new property in order to secure an address within their desired school catchment area and paid on average an 18% premium or £32,127 to do so.
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