Parents are paying over £50k to live near outstanding schools
Parents are paying around 32 per cent more for a property which is in the catchment area of an ‘outstanding’ school.
According to data compiled by the property website Rightmove, some parents are paying an average of £52,000 to live in the proximity of an ‘outstanding’ primary school.
Parents in London are forking out an average of £80,542 extra to live near an ‘outstanding’ primary, compared with how much it would cost to be near a school that needs improvement.
The property premium is the highest in the West Midlands, where a house near an "outstanding" school costs an average of 32 per cent more than one near a school that "requires improvement".
In the East Midlands, houses near ‘outstanding’ schools still cost an average of £23,324 more than it would if it was near a primary which needs improvement, despite being a region with the lowest premium.
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