Homeowners can be expected to pay up to £331,605 on average to live near an ‘outstanding’ school, according to a recent study by confused.com.
Most shockingly, this price rockets to £635,949 for a London house.
The study used Ofsted data to calculate how much it would cost to live near the most sought after schools. They have analysed prices for each city, living near schools rated from 1-outstanding to 4- inadequate by the regulatory body.
School admission rules within England are largely based on ‘catchment area’; a location where a child must live within a specific mile radius to hold a chance of being accepted. For example, the average house price drops from £331,605 to £292,933 for a ‘Good’ rated school, across the country.
The number of pupils outstrips the number of places, causing a ‘catchment crisis’ which has led the website to create an online guide on ‘How to buy near good schools’.
A spokesperson for Confused.com said: “There is a lot to consider when applying for schools, and it can be quite confusing for parents who might not know where to start!
“So we’ve created a guide to buying a house in a good catchment area, which highlights some of the key considerations and things parents can explore to help them get their child into their school of choice, without forking out for a new house.”
Sunderland has been rated the best value place to live in England for parents wanting their child to attend leading schools; with house prices costing an average of £114,157.
In Western Central London, landing one of these properties in the ‘outstanding’ catchment costs a staggering £1,345,614; ranking SW7 as the most expensive postcode in England. This includes South Kensington and parts of Knightsbridge.
Londoners could be expected to pay up to £1.7m to be accepted into the best schools locally.
Buying a house in an area near a school that has received an ‘inadequate’ Ofsted rating is considerably cheaper, costing £461,273.
School catchment crisis details can be found here