Homeowners pay £12,000 more for good schools

23 August 2011

UK parents are prepared to pay an extra £12,141, on average, to buy a house close to the school they want their children to go to.

More than a third of potential homebuyers with children under the age of 10 say securing a house in their chosen school's catchment area is their main priority, according to research from Santander.


Geographically, people in the West Midlands are most concerned about moving into a good catchment area, while those in the North East are least worried.

Parents in the South East are forking out the most money and, on average, are prepared to pay an extra £10,961, while those in Scotland, where property prices are much lower, would pay an extra £1,784.

Phil Cliff, spokesperson for Santander, says people are increasingly concerned about the value of a good education: "In some areas of the country, there is a significant amount of competition for places at sought-after schools. This has led to many parents trying to move to a particular area deliberately to improve their child's chances of getting into their desired school."

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