Looking at house prices around the country when broken down by areas with an Ofsted-rated 'Outstanding' school and those without - and the difference in price for properties in the catchment area.
So how much does living nearby one of the country’s best schools inflate the price of your new home?
Buyers in Sunderland pay the biggest premium - areas without an 'Outstanding' school cost, on average, £125,917, whereas those in the catchment for an 'Outstanding' school will pay £176,326, a difference of 40.03%. The difference in Durham (39.31%) and Blackpool (31.55%) aren't far behind, with the next largest jump in prices paid.
However, not all areas experience this “education premium” and nowhere is this clearer than in the West Yorkshire city of Wakefield. Here, houses in areas with outstanding schools are actually more than 30% cheaper on average than in areas without. The same is also true in Wolverhampton, where homes that are close to some of the best schools are actually 22% cheaper on average.
Wolverhampton is home to a number of historic schools, such as Wolverhampton Grammar School, founded in 1512, The Royal School, Wolverhampton, and Tettenhall College. Another town which goes against the trend of houses near good schools being more expensive is Watford, north of London. Here, a house in a postcode sector with an outstanding school is 17.38% less than in those without.
For buyers looking for the best schools overall, the top three areas with a high percentage of 'Outstanding' schools are Kensington & Chelsea (with 60% of schools highly-rated), Richmond upon Thames (49.15%) and Harrow (44.07%) - and outside London, Trafford (35.87%), Windsor & Maidenhead (32.84%) and Gateshead (32.14%) top the list. The areas with the fewest 'Outstanding' schools are the Isle of Wight, with none, Dudley (6.54%) and Middlesborough (7.27%).
