Parents Paying £52,000 More On A Home To Secure A Place At An Outstanding State Primary School
- With 86% of ‘outstanding’ state primary schools oversubscribed in England, parents are paying an average asking price premium of £52,000 to live in the successful admission area of one ·
- This 18% price premium is compared to living in admission areas of Ofsted grade 3 schools ·
- The ‘Primary School Premium’ study combines the largest asking prices data set from Rightmove with data from the only provider of successful admission areas, FindASchool by 192.com ·
- The West Midlands has the biggest premium, with property 32% more expensive to live near an ‘outstanding’ school than Ofsted 3, while the lowest premium of 13% is in the East Midlands ·
- To move from an area with ‘good’ schools to ‘outstanding’ schools holds a 12% premium of nearly £37,000 more on average
A new study reveals the asking price premium that parents will need to pay if they want to secure a place at an ‘outstanding’ state primary school.
Across England, 86% of ‘outstanding’ state primary schools are oversubscribed, making for fierce competition for school places. The average ‘Primary School Premium’ to move from an area in the successful admission area of a school that is rated as ‘requires improvement’ by Ofsted (grade 3) to a property in the successful admission area of an ‘outstanding’ school (grade 1) stands at £52,372 in England.
The West Midlands has the biggest premium of 32%, or £52,919 more. The neighbouring region of the East Midlands has the lowest premium of 13%, though that still means paying £23,325 more. In London, it would cost over £80,000 more to secure a place at an ‘outstanding’ school in the capital, with an average asking price of £678,595.
Currently, 20% of primary schools in England have ‘outstanding’ (Ofsted grade 1) status. A much bigger 62% have a good (Ofsted grade 2) status. The difference between sending your child to a ‘good’ school versus an ‘outstanding’ school is £37,000 more on average.