Parents pay £21,000 more to live near top state schools

The study looked at house price sales figures from the Land Registry and GCSE performance data from the Department for Education.

It also found that half of England's top 30 state schools are in locations where the average property price is cheaper than those in neighbouring areas.

The biggest percentage discount was found in the area of Devonport High School for Girls, where property values are 38pc or £83,375 below their county average.

In cash terms, the largest discount can be found in the area close to Reading School, where the average house price is £107,979 lower than the county average.

More: Is it better to spend on school fees or private tuition?

The research found that homes within the area of Beaconsfield High School cost around 18.2 times average annual local earnings, while those near to Heckmondwike Grammar school in West Yorkshire are the most affordable, costing 3.2 times the typical annual wage there.

Marc Page, Lloyds Bank mortgages director said: "There is strong competition for properties in areas where state schools are providing top quality education, often in locations with limited supply, which is supporting prices.

"Although property values can be significantly lower in neighbouring areas, many parents don't appear to be put off paying a premium to ensure their child has the best possible chance to attend their chosen school."

Here are the top state schools which command the biggest percentage premiums to live nearby, when compared with house prices in the surrounding county, with the average house price in the school postal district followed by the typical house price in the county and the premium in cash and percentage terms:

1. Beaconsfield High School, Buckinghamshire, £796,909, £313,878, £483,031, 154pc

2. Bishop Vesey's Grammar School, West Midlands, £299,012, £167,355, £131,656, 79pc

3. Clitheroe Royal Grammar School, Lancashire, £227,602, £140,745, £86,857, 62pc

=4. St Olave's and St Saviour's Grammar School, Kent, £411,940, £259,260, £152,680, 59pc

=4. Sir William Borlase's Grammar School, Buckinghamshire, £497,936, £313,878, £184,058, 59pc

6. Altrincham Grammar School for Girls, Cheshire, £325,957, £208,518, £117,439, 56pc

7. Colyton Grammar School, Devon, £270,945, £217,636, £53,309, 24pc

=8. Newport Girls' High School, Shropshire, £210,979, £187,548, £23,432, 12pc

=8. Wolverhampton Girls' High School, West Midlands, £187,550, £167,355, £20,195, 12pc

10. Nonsuch High School for Girls, Sutton, £319,597, £296,217, £23,380, 8pc

>> Top 30 state schools average, £268,098, £247,143, £20,955, 8pc

Here are the top state schools where nearby house prices are lower compared to house prices in the surrounding county, with the average house price in the school postal district followed by the typical house price in the county and the discount in cash and percentage terms:

1. Devonport High School for Girls, Devon, £134,261, £217,636, minus £83,375, minus 38pc

2. Heckmondwike Grammar School, West Yorkshire, £99,063, £156,930, minus £57,867, minus 37pc

3. Reading School, Berkshire, £212,994, £320,973, minus £107,979, minus 34pc

4. The Latymer School, Enfield, £218,846, £318,566, minus £99,721, minus 31pc

5. Sir Thomas Rich's School, Gloucestershire, £190,292, £238,098, minus £47,806, minus 20pc

6. Westcliff High School for Girls, Essex, £206,437, £250,018, minus £43,580, minus 17pc

7. Queen Elizabeth's School, Barnet, £428,257, £502,007, minus £73,750, minus 15pc

8. St Michael's Catholic Grammar School, Barnet, £433,673, £502,007, minus £68,334, minus 14pc

=9. Stroud High School, Gloucestershire, £216,376, £238,098, minus £21,723, minus 9pc

=9. Rugby High School, Warwickshire, £209,604, £230,407, minus £20,802, minus 9pc

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