Parents paying more than £100k property premium for outstanding education

Parents wanting an outstanding secondary school education for their children are paying an average property premium of more than £100,000. This is according to new figures from Quick Move Now.

Around 5 million teenagers are sitting their GCSEs this summer, all hoping they’ve done enough to achieve their future education and employment aspirations.

Every parent wants their child to have the best opportunities. Choosing which secondary school you want your child to attend is a big part of that. With parents fighting it our for properties in the best catchment areas, homes sell at a premium now estimated to be an average of more than £100,000.

According to the Ofsted website, there are currently 494 non-fee-paying secondary schools in England that are rated ‘outstanding’. The average property price in the areas surrounding an outstanding secondary school is £433,690. The national average property price in England of £302,000. That’s a premium of £131,690.

It’s a similar picture for those renting properties in catchment areas for an outstanding secondary school. Average rental prices in outstanding secondary school catchment areas is currently £1,960, compared to £1,285 nationwide.

Danny Luke, managing director of Quick Move Now – the company behind the data, says: “Parents want to provide the best opportunities they can for their children. Choosing a secondary school for your child is a big decision. Parents are often willing to go to great lengths to get their top choice.

“Your child’s secondary school can have a big impact on their exam results and, therefore, their future prospects. As a result, homes in catchment areas for an Ofsted outstanding secondary school are always in high demand. Our figures suggest that families are paying property premiums upwards of £100,000 in order to get their children into the country’s best state secondary schools. If Labour win the upcoming election and following through on their pledge to remove tax breaks for private schools, we’re likely to see that premium increase further as wealthy parents compete for a place at a top state secondary school.”

For a full list of ‘outstanding’ secondary schools and local property prices, please see our main press release.