Business & Finance
UK homes near top state secondary schools cost 11% more on average, research shows
Analysis by estate agent Yopa highlights significant regional variations in property price premiums near leading schools across the UK.
The short version
- Homes located in postcode districts near top 50 UK state secondary schools carry an average price premium of £40,574, or about 11%, compared to surrounding local authority areas.
- Regional variations are substantial: properties near Bishop Vesey's grammar school in Sutton Coldfield command a £275,814 premium, while homes near Reading and Kendrick schools cost £84,373 less than the broader local average.
- Separate data shows properties near top London private schools face price premiums of up to 77%, on top of private tuition fees.
Key facts
- According to research by estate agent Yopa, average property prices in postcode districts with a top 50 state secondary school are £415,791, compared to £375,217 in broader local authority areas.[The Guardian]
- The average state school location premium of £40,574 compares to an average annual private school fee of £23,000 as reported by the Good Schools Guide.[The Guardian]
- The highest state school property premium occurs around Bishop Vesey's grammar school in the B74 postcode, where average home prices of £509,964 exceed Birmingham's wider average of £234,150.[The Guardian]
- In London, homes in the NW11 postcode near Henrietta Barnett school carry a 37% premium over the rest of Barnet, adding an extra £354,288 to property prices.[The Guardian]
- Exceptions exist, such as the postcode containing Reading school and Kendrick school, where average property prices of £276,870 fall £84,373 below the broader Reading average.[The Guardian]
- Properties in the W1 postcode near Queen's college in London average £1.92m, representing a 77% premium compared to the wider Westminster average of £854,198.[The Guardian]
What remains uncertain
- Individual property price premiums vary widely and may be driven by specific local housing market dynamics rather than school proximity alone.[The Guardian]
Sources
- UK houses near top state secondary schools cost £40,000 more, research revealsThe Guardian - World