05 Apr Parents face £52,000 premium to live in catchment of ‘outstanding’ primary schools
- Parents are willing to pay 18% more to live in admission area of top schools
- In London, parents face a £80,000 premium to live near ‘outstanding’ schools
- Theresa May has said England’s schools have ‘selection by house price’
- PM plans to introduce grammar schools to boost attainment among disadvantaged pupils
Parents in England face paying a premium of £52,000 to live near a primary school rated as outstanding, research has found.
The average “primary school premium” to live in an admission area of a school that is rated by Ofsted as outstanding, compared with living near a school that requires improvement, is £52,372 or 18%, according to the study.
Competition is so fierce to get into the best schools that parents are prepared to pay over the odds to live in homes nearby.
The research combines house asking price figures from website Rightmove with data provided by FindASchool by 192.com, which tells house hunters whether a property was in the previous successful admission area for a local school.
The study also found that the house price premium to live near a school rated as outstanding versus a school deemed to be good is £36,889, or 12%, on average.
The smallest premium in cash terms is in the North East, where home buyers face paying £17,090 more to live near an outstanding school versus one that requires improvement.
What about London?
In London, parents face a £80,000 premium to live close to an outstanding school versus one that requires improvement, the research found.
Miles Shipside, director of Rightmove, said many house hunters are willing to compromise on other factors if it means getting their children into a good or outstanding school.
Mr Shipside continued: “There are of course other factors that play a part in the overall asking price of an area. Things like the size of properties and how high the demand is, especially if there’s a shortage of available property.”
Dominic Blackburn, product director of 192.com, said: “Living near a school is not necessarily a guarantee of securing a place, with some Ofsted outstanding schools having successful admission areas of less than 100 metres.”
Properties listed on Rightmove have a “school checker” tab with details of schools’ previous successful admission areas from FindASchool.
Here are the average premiums needed in each region to live near an outstanding primary school versus one that is rated as needing improvement. According to the Rightmove/192.com study the difference is :
- West Midlands, £52,919, 32%
- North West, £39,390, 27%
- Yorkshire and Humber, £32,886, 22%
- South East, £71,979, 21%
- East of England, £59,823, 20%
- South West, £47,071, 19%
- London, £80,542, 13%
- North East, £17,090, 13%
- East Midlands, £23,325, 13%
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