UK houses near top state secondary schools cost £40,000 more, research reveals
Premium of nearly 10% paid by housebuyers comparable with cost of a cheaper private school over seven years A house near a top state secondary school costs an extra £40,000 on average, according to research that reveals education premiums that rank alongside some private school fees. The average property in a postcode district that includes a top 50 state secondary commands a price tag of…
A recent study conducted by estate agent Yopa has revealed that houses located near top state secondary schools in the UK typically cost an average of £40,000 more compared to properties in surrounding areas. This 11% premium is equivalent to the cost of a private school education over seven years. The research analyzed postcode districts containing some of the country's top state secondary schools and found that the price difference varies across the country, though the overall average remains consistent.
In Sutton Coldfield, West Midlands, homes in the B74 postcode district near Bishop Vesey’s grammar school fetch an average price of £509,964, a £275,814 premium compared to the rest of Birmingham. Meanwhile, in London’s NW11 postcode, properties near Henrietta Barnett school command a 37% premium, equivalent to £354,288 extra.
However, the trend isn't uniform. In Reading and Kendrick schools' postcode district, the average property price is £276,870, £84,373 below the broader Reading average. The largest premium is found in London's W1 postcode near Queen’s college, where homes average £1.92m, a 54.5% premium compared to Westminster's average of £854,198. Other prestigious schools in the area, such as Francis Holland school, Sloane Square, contribute to this high premium.
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