UK School house price premium revealed

UKPA:

Parents face a "premium" of around £91,000 to buy a house near a top state primary school, a new study suggests.
Property website PrimeLocation.com looked at asking prices in the surrounding areas of the top 100 state primary schools across England, using official education figures.

It found that homes in top primary school areas command an average price of £309,732, which is £91,618 or 42% higher than the typical price of £218,114.
Nigel Lewis, a property analyst at PrimeLocation.com, said: "Analysis conducted by PrimeLocation.com in September 2011 revealed that living near one of the 50 best secondary schools in the UK adds an extra £77,000 to the value of a home - £14,000 less than living near one of the nation's top primary schools."

Primary schools in the East Midlands were found to command the biggest premiums in percentage terms, with asking prices £82,000, or 48% higher than the regional average of £171,135.

Posted by Jim Zellmer at March 28, 2012 2:55 AM
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