Issue 21Sept 2018

News Roundup

The Cost of a Good Education When Buying A Home

When deciding where to live, a home with a good school in the vicinity is certainly desirable for families looking to provide their children with a decent education. However with some of the top schools in the country driving the premiums of nearby properties - where are the most affordable areas with high performing schools?

According to research from Dataloft, two thirds of the top performing schools are located within areas that have seen significant growth of at least 80k in average house price in the last five years. In the postal districts of the top 30 schools, the house prices are around £30,968 higher than the house prices of other areas in the same district (or local authority in London). The largest premium of 149% is near Beaconsfield High School in Buckinghamshire where homes are now worth over £1 million in comparison to the rest of the county which holds an average of £600k. In comparison, this is twice the premium of Cheshire which boasts two top 20 schools (Altrincham Grammar School and Loreto Grammar School) where the average jumps 74%. 

Out of 30 top schools, only 11 are priced under English average. These include the High School for Girls in Gloucestershire (ranked 19th) where properties are 44% below the county average, King Edward VI Handsworth School in the West Midlands which is 42% county average and Kendrick School in Berkshire which is 32% county average. 

Least affordable homes are near the best performing state school in the country, Henrietta Barnett School in Barnett, whereby properties are 22.2 times the gross average annual earnings in the area.

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