School premiums driving up house prices

27 August 2014

Beaconsfield High School House price news now, and if parents want their nippers to go to the best state schools in England, they're looking down the barrel of half a million to buy a home in the right area.

According to a report from Lloyds, it reckons the average premium to live nearby to a top school is £21,000

The most extreme example was Beaconsfield High School in Buckinghamshire (pictured) where the average house price is £797,000, compared to an average price of £314,000 in the rest of the county, giving it a ‘school premium’ of £483,031, the largest one in England.

Researchers looked at the top 30 secondary state schools in England as well as the top ten performing secondary state schools in each region, based on last year’s [2013] GCSE data.

But it's not all demented premium news, as Heckmondwike grammar, in West Yorkshire, has results that place it among the top 30 state schools in the country, but house prices nearby average just £99,000.

For that lot in London, Barnet also stands out as an area with some of the best state schools. But house prices are lower in the area than the average for the capital.

A mortgages director at Lloyds, who we'll call for this purpose Marc Page, said: "Although property values can be significantly lower in neighbouring areas, many parents don’t appear to be put off from paying a premium to ensure their child has the best possible chance to attend their chosen school."

Shall we look at the Top Ten of where the biggest house price 'school premiums' are?:

1. Beaconsfield High School, Buckinghamshire, £483,031, 154%
2. Bishop Vesey's Grammar School, West Midlands, £131,656, 79%
3. Clitheroe Royal Grammar School, Lancashire, £86,857, 62%
4. St Olave's and St Saviour's Grammar School, Kent, £152,680, 59%
4. Sir William Borlase's Grammar School, Buckinghamshire, £184,058, 59%
6. Altrincham Grammar School for Girls, Cheshire, £117,439, 56%
7. Colyton Grammar School, Devon, £53,309, 24%
8. Newport Girls' High School, Shropshire, £23,432, 12%
8. Wolverhampton Girls' High School, West Midlands, £20,195, 12%
10. Nonsuch High School for Girls, Sutton, £23,380, 8%

Mostly Girls Schools too, the pervs.

TOPICS:   Banking

3 comments

  • Paula f.
    You know what else pushed house prices up? In a commuter belt for a major city. What about this one? Number of bedrooms. Wow.
  • Pie M.
    Wouldn't live anywhere near Clitheroe for all the 'A' level grades in China. Like most of Lancashire it's a foul post-industrial wasteland, filled with racist inbreds.* * see also Rochdale, Burnley and Blackburn.
  • Pie M.
    "But it’s not all demented premium news, as Heckmondwike grammar, in West Yorkshire, has results that place it among the top 30 state schools in the country, but house prices nearby average just £99,000." And if you'd ever clapped eyes on Heckmondwike, or any of it's slack jawed tracky wearing inmates, you'd know why.

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