10 Sep

House prices are far higher close to state schools in the UK

House prices are far higher close to state schools in the UK

Home buyers who are heading to visit their estate agents across the UK could be seeing a new emerging trend in the property market, a report has found.

According to the new study from Lloyds TSB, it now costs an average of £34,000 extra to live near to one of England's top state schools across the nation.

In 2011, the report stated, the cost of owning a home next to one of the schools that achieved highest results in GCSE examinations would set parents back an extra 12 per cent compared to the UK average.

This means that it costs three times as much to live near a top state school than to pay the fees to get into a private school.

Suren Thiru, housing economist, Lloyds TSB said: "The presence of a good school appears to help support property values in many of these locations as parents compete with other buyers and investors to land the property that gives their child the best possible chance to attend their chosen school."

It is often the case, with high school in particular, that many parents will opt to move to a new area just to make sure they live in the catchment area for a better school.ADNFCR-1222-ID-801446044-ADNFCR

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