Investing in property near a good primary school adds £18,600 to the average price of a home in England, while property near one of the best secondary schools commands an extra £15,800 on average, new research shows.
According to a new study by the Department for Education (DfE), homes near the best-performing primary schools are worth 8% more than the average and 6.8% higher near the best secondary schools.
The DfE said one of the top 10% of primary schools in the capital would add £38,800 to the value of a residential property located nearby.
The DfE study looked at non-selective state schools with the highest proportions of pupils getting level four or five at Key Stage 2 and at least five A* to C grades in GCSEs, including English and maths, and found that there is a ‘clear link’ between the price paid for a home and access to good schools.
School standards minister Nick Gibb commented: “With almost 1.8 million more children in good or outstanding schools than in 2010, more families are able to secure a good school place for their child than ever before. However, for too many young people their chances of success still depend on how much money their parents earn and where they can afford to live.
“This new analysis sheds a light on how far selection by house price is restricting ordinary parents’ access to the best schools.
“We want to end this unfairness and our proposals will create more good school places in every part of the country, so every child can have the excellent education they deserve.”