Good schools add £21,000 to local property prices

9:37 am | Blog,News | 29th August, 2014

A top state secondary school adds an average of £21,000 to house prices in the local area, with one school in Beaconsfield, Buckinghamshire, helping houses command a £483,000 premium over prices across the county, according to research by Lloyds Bank.

To live close to one of the top 30 state schools in England, parents pay an average premium of £21,000, with homes near good schools selling for £268,000 compared to the average national house price of £247,000, said Lloyds, which based its figures on Land Registry data.

Competition for property around the highest-rated schools is most intense in the south-east, with house prices close to the top 10 state schools in the region being sold 27% (£72,314) above the average house price in their county.

Property near Bishop Vesey’s grammar school, in Sutton Coldfield, near Birmingham, was the second most sought after, followed by Clitheroe royal grammar in Lancashire.

The Guardian August 2014