You are here: Home - Mortgages - First Time Buyer - News -

‘Outstanding’ schools push local property prices up by as much as a third

Written by:
Parents in Warrington pay the biggest premium to live near a top-rated school, shelling out an extra £80,000 to be in the catchment area of schools rated ‘outstanding’ by Ofsted.

Average property prices in the Cheshire town are £243,000 but rise by a third (33%) to £322,321 in areas with ‘outstanding’ schools, according to research by Comparethemarket.

In the UK’s most expensive postcode – western central London, which includes Soho and Fitzrovia – families can expect to pay an extra quarter of a million pounds or 22% to live near top-rated schools.

The average house price in the area is £1.2m but rises to almost £1.5m if there is an ‘outstanding’ school nearby.

However, the research shows there are a small number of areas where access to top schools does not come with a property premium.

The most affordable area to live near ‘outstanding’ rated schools is Sunderland, where the average house price in Ofsted ‘outstanding’ areas is just £117,747, 4% cheaper than the average house price in the area.

Other more affordable areas with the best schooling options include Blackburn, Oldham, Cleveland and Wigan.

Mark Gordon, director of money at, said: “Living within the catchment area of schools rated as ‘outstanding’ by Ofsted is a top priority for parents wishing to give their children access to the best quality of education.

“The cost of living in these high-demand areas can be a big concern for families, who often face a trade-off between house price and quality of education. However, our latest research reveals that it is possible to still reap the educational benefits without the price tag.”

Source: Comparethemarket

Related Posts

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week