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Living close to an 'outstanding' school adds £44k to house prices

How much extra would you be prepared to pay to give your child a good chance at getting into the best local school? 

Families in England are paying a house price premium of almost £44,000 on average to make sure their children live within the catchment of primary schools rated ‘outstanding’ by Ofsted, new analysis suggests.

The added cost of these top-performing school catchment areas was compared to the average property price of the rest of the postcode in which the school is situated.

Premium prices: You’ll pay 44 per cent more on average to live close to an ‘outstanding’ primary school

The figures are based on research into the catchment areas of 50 state-funded English primary schools conducted by slot online estate agent HouseSimple.com using Zoopla sold price data.

It found that homes in the streets closest to these sought-after school are 18 per cent higher than average property prices for the rest of the area.

However that premium rises to 45 per cent in the catchment area of St Luke’s Primary School in Brighton and Hove, adding just over £150,000 to the average house price.The average price for the postcode is £334,692 but homes within the catchment cost £485,813 on average.  

In fact, HouseSimple found that more than half of the highest premiums to be close to an outstanding school are for homes located in the South of England. 

Other than St Luke’s, Crowland Primary School in the London borough of Haringey and Bodriggy School in Cornwall commands the next biggest premiums, at 45 and just under 44 per cent respectively.Staggeringly, the Crowland catchment adds almost £200,000 onto the average house price of £442,017 and take to average price of streets close to the school to £635,833. 

Bodriggy catchment: A home currently for sale close to the outstanding Cornish school is listed on the HouseSimple website for £325,000

The table below shows the highest average percentage premium paid to purchase a property in the catchment area of an outstanding primary school. 

OUTSTANDING PREMIUMS TO LIVE CLOSE TO A TOP PRIMARY SCHOOL
School Local authority area Average property price for local area (£) Average property price in streets close to school (£) Percentage difference (%)
St Luke’s Primary School Brighton and Hove £334,692 £485,813 45.15
Crowland Primary School Haringey £442,017 £635,833 43.85
Bodriggy Academy Cornwall £237,629 £321,000 35.08
Trowse Primary School Norfolk £257,025 £346,286 34.73
St Julie’s Catholic Primary School St Helens £133,329 £179,500 34.63
Stoke Prior First School Worcestershire £256,074 £344,100 34.38
Anton Junior School Hampshire £231,715 £311,316 34.35
The Croft Primary School Swindon £214,086 £284,581 32.93
Springdale First School Poole £391,561 £519,202 32.6
Brierley Church of England Voluntary Controlled Primary School Barnsley £105,247 £138,999 32.07
Copley Primary School Calderdale £159,937 £209,960 31.28
Hall Green Infant School Birmingham £195,361 £252,444 29.22
Wortham Primary School South Norfolk £247,884 £320,305 29.22
Ashton-on-Ribble St Andrew’s Church of England Primary School Lancashire £153,764 £198,326 28.98
Valley View Primary School South Tyneside £130,181 £167,427 28.61
Darley Dale Primary School Derbyshire £229,356 £289,631 26.28
Thames View Infants’ School Barking and Dagenham £250,105 £311,448 24.53
Pewithall Primary School Halton £130,638 £161,389 23.54
St Michael and All Angels Catholic Primary School Knowsley £100,153 £122,917 22.73
Victoria Park Junior School Trafford £173,157 £212,386 22.66
Source: HouseSimple.com

Some families are spared the burden of having to pay over the odds for a home close to a stop school.Properties close to The Mayflower Primary School in Essex, Henry Cavendish Primary School in the London borough of Lambeth, Highfields Primary School in Leicester and Elmore Green Primary School in Walsall have all recently sold for less than the average house price across the rest of their respective postcodes.

And the smallest premium to be found was for homes close to the ‘outstanding’ Orleans Primary School in Richmond upon Thames – at just 1.23 per cent.Though these homes still recently sold for an eye-watering £755,392.

THE BEST SCHOOLS WITH NO PROPERTY PREMIUM – AND ONE WITH THE SMALLEST
School Local authority area Average property price for local area (£) Average property price in streets close to school (£) Percentage difference (%)
The Mayflower Primary School Essex £165,236 £160,361 -2.95
Henry Cavendish Primary School Lambeth £790,323 £771,374 -2.4
Highfields Primary School Leicester £119,821 £117,500 -1.94
Elmore Green Primary School Walsall £136,606 £136,424 -0.13
Orleans Primary School Richmond upon Thames £746,177 £755,392 1.23
Source: HouseSimple.com

Alex Gosling, chief executive of HouseSimple.com, said: ‘One of the most valuable gifts we can give our children is a good education, and many parents will go to great lengths to get their children a place at the best local state-funded primary school.But there is a price to pay for the best free schooling.

‘Private education is out of reach for many families, which is why there is high demand for places at top-rated state primary schools. But there aren’t enough places to go around, which has led property prices in the catchment areas of popular primary schools to rocket in recent years.

​’Attending an outstanding state school can offer an education as good as, if not better, than paying to go private, but with property prices close to the best state schools commanding average premiums of 18 per cent, paying the price to live close by certainly doesn’t equate to a free education.’

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