chelsea academy

Property prices rise near top public schools

Parents in England are paying several hundreds of thousands of pounds extra for their homes in order to get their children a place at top state schools.

Research has shown that parents are increasingly more willing to spend more to live closer to a top performing school. In fact – an average of £53,000 more (an increase of £13,000 from last year.)

A typical property in the postal districts of one of England’s top 30 state schools costs around 17% more than the average home in a neighbouring location, according to the study by Lloyds.

Overall, parents can expect to spend an average of £366,744 to live in the areas closest to England’s top 30 state schools, compared to a national average of £313,318.

Six of those top schools – including the Henrietta Barnett School, which was named the top performing school in the country for GCSE grades last month – have pushed their local house prices up to a record of at least £150,000 above their county averages.

Andrew Mason, Lloyds Bank mortgages director said: "Schools with the best exam performance are proving to be an increasingly strong draw for home-movers, as we've seen house prices rise sharply in locations close to such schools. Our analysis shows that since 2011 average house prices in areas with the best state schools have increased by £76,000, compared to a national increase of £42,145."

"And seven of the areas covered in this survey have seen house prices rise by over £100,000 in the last five years. The popularity of areas close to high performing schools may mean that homes remain unaffordable for buyers on average earnings." 

 

 

Comparison tool

Felicity Liebmann

Used your service last week to get travel money from ICE and it all worked beautifully. Very efficient and easy, the cash arrived when it was due so there was no hanging about waiting or anxiety about it not arriving when promised.

Alex Larsen

I've been struggling to find a way to make regular transfers to my Norwegian account from the UK (where I work). Finally I've at least got some pointers for where to start, so I won't have to pay a fortune every time I transfer!
Portugal property

MAKING OVERSEAS PAYMENTS FOR BUYING PROPERTY IN PORTUGAL

When purchasing property in Portugal, we explain all the steps involved in the purchase. We can demonstrate how to make the most of your money when making the international payments to cover the purchase price and associated costs and how to avoid exchange rate risks.

uae

International Money Transfers for Individuals

If you are purchasing overseas property, paying tuition fees, receiving your pensions or for whatever reason, transferring money internationally can be a costly. We compare the services on offer for the amount you wish to send and save you money by finding the best exchange rates and lowest fees.

Market Insights

Sign up for our newsletter.

Thank You for subscribing to our Newsletter

You have successfully signed up to our Newsletter