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Parents pay over 40% more to stay near the best state schools in England

Living in the catchment area of one of England’s top 100 state secondary schools carries a 42% house price premium compared to the surrounding area, new research has found.

It is not just proximity to high performing secondary schools that sees local house prices rise. Buying a property near one of England’s top 1,000 state primary schools also carries an 8% house price premium.

Overall, the research from Santander Mortgages shows that across the whole of the UK parents are willing to pay a premium to secure a place for their child in their desired school. Parents with school age children who have moved or are willing to move to live in their preferred catchment area are prepared to pay £26,860 more than the average UK property price in a bid to secure a space at a top school.

Parents keen to move are willing to pay a higher premium for a school catchment area than nearly any other amenity, as they would only pay an 11% premium to live in an area of low crime or 10% for good transport links.

The catchment area premium in London stands at £70,675, as parents willing to move would be prepared to pay 15% more to live in the vicinity of their first choice school, more than anywhere else in the UK.

<!--[if gte mso 9]><xml> Normal 0 false false false MicrosoftInternetExplorer4 </xml><![endif]--><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if !mso]><object classid="clsid:38481807-CA0E-42D2-BF39-B33AF135CC4D" id=ieooui></object> <style> st1\:*{behavior:url(#ieooui) } </style> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> span style="font-size: 12.0pt; font-weight: normal; mso-bidi-font-weight: bold;">Living in the catchment area of one of England’s top 100 state secondary schools carries a 42% house price premium compared to the surrounding area, new research has found.

It is not just proximity to high performing secondary schools that sees local house prices rise. Buying a property near one of England’s top 1,000 state primary schools also carries an 8% house price premium.

Overall, the research from Santander Mortgages shows that across the whole of the UK parents are willing to pay a premium to secure a place for their child in their desired school. Parents with school age children who have moved or are willing to move to live in their preferred catchment area are prepared to pay £26,860 more than the average UK property price in a bid to secure a space at a top school.

Parents keen to move are willing to pay a higher premium for a school catchment area than nearly any other amenity, as they would only pay an 11% premium to live in an area of low crime or 10% for good transport links.

The catchment area premium in London stands at £70,675, as parents willing to move would be prepared to pay 15% more to live in the vicinity of their first choice school, more than anywhere else in the UK.

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