£52,000 premium to live near ‘outstanding’ school

PARENTS in the West Midlands face paying £52,000 more for a house if they want to live near a primary school rated as “outstanding”.

New research has found that the region has one of the highest average “primary school premiums” in the country.

Parents in the region are so desperate to ensure their children go to a decent school that the percentage increase is the highest in Britain.

The premium is described as the additional cost of a house in the admission area of any school that boasts Ofsted’s top rating.

Researchers combined house asking price figures with schools data to come up with the results.

The study also found that the average house price premium to live near a school deemed to be “good” is £36,889.

The highest figure was in London, at £80,000, while the lowest was in the North East, where home buyers face paying £17,090 more.

Miles Shipside, director of Rightmove, says many house hunters are willing to compromise on other factors if it means getting their children into a good or outstanding school.

He says the study “highlights the challenges many parents need to go through to secure a place at a school and a home that they know is right for them”.

“There are, of course, other factors that play a part in the overall asking price of an area,” he adds.

“These include the size of properties and how high the demand is, especially if there’s a shortage of available property.”

But Dominic Blackburn, product director of 192.com, warns: “Living near a school is not necessarily a guarantee of securing a place.

“Some Ofsted outstanding schools have successful admission areas of less than 100 metres.”