UK houses near top state secondary schools cost £40,000 more, research reveals
Summary
Houses near top state secondary schools in the UK cost about £40,000 more on average than those in the surrounding areas. This extra cost is similar to the price of several years of private school fees. The price difference varies by location, with some areas showing much larger premiums.Key Facts
- The average house near a top 50 state secondary school costs about £415,791, which is £40,574 (11%) more than homes in the wider local area.
- Private school fees average £23,000 per year, so over seven years, the total cost is similar to the extra house price near top state schools.
- In Sutton Coldfield, near Bishop Vesey’s grammar school, home prices are £275,814 higher than the wider Birmingham area.
- Near Henrietta Barnett School in London, homes cost 37% more than the rest of the Barnet borough, adding an extra £354,288 in value.
- Some areas show the opposite trend; near Reading School and Kendrick School, houses are cheaper than the local average by £84,373.
- Families often consider the quality of local schools when choosing where to live, leading to these price premiums.
- Near top private schools in London, prices can be up to 77% higher, with Queen’s College area homes costing around £1.92 million on average.
- Premiums near private schools like Westminster School and Francis Holland School are about 54.5% higher than the wider Westminster area.
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