Good schools add £21,000 to local property prices

Aug 26, 2014 by

Homes near good schools sell for £268,000, compared with the average national house price of £247,000, Lloyds research shows

A top state secondary school adds an average of £21,000 to house prices in the local area, with one school in Beaconsfield, Buckinghamshire, helping houses command a £483,000 premium over prices across the county, according to research by Lloyds Bank.

It named Beaconsfield high school, where 75% of all students’ grades in recent GCSEs were A or A*, as the school that added most to local house prices and the town as the least affordable place for local people wanting to get their children into the school.

Average house prices close to the school stand at £797,000, 154% above the average for the county and more than 18 times gross local salaries, said Lloyds. However, the Beaconsfield area is prime “stockbroker belt” commuter territory and has always had higher than average house prices.

To live close to one of the top 30 state schools in England, parents pay an average premium of £21,000, with homes near good schools selling for £268,000 compared to the average national house price of £247,000, said Lloyds, which based its figures on Land Registry data.

via Good schools add £21,000 to local property prices | Money | The Guardian.

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