Published at 14:09, Friday, 30 March 2012

Parents face a ‘premium’ of around £91,000 to buy a house near a top state primary school.

Property website PrimeLocation.com looked at asking prices in the surrounding areas of the top 100 state primary schools across England, using official education figures.

It found that homes in top primary school areas command an average price of £309,732 – £91,618 or 42 per cent higher than the typical price of £218,114. Nigel Lewis for PrimeLocation.com, said: “Analysis conducted by PrimeLocation.com in September 2011 revealed that living near one of the 50 best secondary schools in the UK adds an extra £77,000 to the value of a home – £14,000 less than living near one of the nation’s top primary schools.”

Primary schools in the east Midlands were found to command the biggest premiums in percentage terms, with asking prices £82,000, or 48 per cent higher than the regional average of £171,135.

The added value of living near a top primary school in the north west stands at around £52,000.

Typical asking prices by region and the ‘premium’ paid in percentage terms:

1. East Midlands, £171,135, £253,238, 48 per cent

2. Yorkshire and Humberside, £157,718, £232,518, 47.4 per cent

3. West Midlands, £176,519, £253,883, 43.8 per cent

4. South east, £271,367, £371,823, 37 per cent

5. East of England, £210,981, £283,179, 34.2 per cent

6. North west, £163,124, £215,951, 32.4 per cent

7. North east, £148,121, £191,439, 29.2 per cent

8. South west, £236,085, £300,514, 27.3 per cent

9. London, £460,386, £494,678, 7.4 per cent

Published by http://www.cumberlandnews.co.uk