Key facts
- Properties in postcodes with top 50 state secondary schools are priced at an average of £415,791.
- This represents an average premium of £40,574, or approximately 11%, compared to wider local authority areas.
- The premium can be compared to the average annual fee of £23,000 charged by private schools.
- Bishop Vesey's grammar school in Sutton Coldfield showed a significant local price increase.
- In London, homes near Henrietta Barnett school are valued 37% higher than the Barnet borough average.
A UK-wide analysis by estate agent Yopa reveals that properties located in postcodes containing top 50 state secondary schools command an average price of £415,791. This is £40,574, or approximately 11%, more than the average property price of £375,217 across the wider local authority areas. The research highlights that this 'education premium' can be comparable to the cost of private schooling over several years, with average annual fees around £23,000. However, the premium varies significantly by region. In Sutton Coldfield, homes in the B74 postcode district, which includes Bishop Vesey's grammar school, average £509,964, a premium of £275,814 compared to the Birmingham average. London sees a substantial premium near Henrietta Barnett school, with properties in the NW11 postcode valued 37% higher than the rest of the Barnet borough, an additional £354,288. Conversely, some areas, such as Reading, show a reverse trend, with properties near Reading school and Kendrick school costing £84,373 less than the wider Reading average. Separate research indicates that in London, properties near top fee-paying private schools can command premiums of up to 77%, with Queen's college in the W1 postcode seeing homes average £1.92m, more than double the Westminster average.