In the heart of prestigious schools estate in England is much more expensive

If you wish to buy a house near one of the 30 best schools in England, it is likely to pay approximately £31500 pounds more.

A study showing the effect of nearby good school for the price of residential property held by Lloyds Bank.

The average price of residential property in England in around 30 schools, which is leading in the national ranking in 2012 to £31940 or 12% higher property in the same region, but away from these schools.

The study also revealed that in the areas where located 9 out of the top 30 schools, the price of residential property for £80000 more than in nearby areas. Residential real estate located in the prestigious district school Henrietta Barnett School in North London has the largest increase in price or 87%, or £402600 is the increase in price compared to the prices of residential properties nearby. The house, located close to the Tiffin Girls’ School and Tiffin School in Kingston upon Thames have the increase in price of 51% or £207591 compared to districts where no such schools.

However, in 12 districts out of 30 in close proximity to the best schools in England average price of real estate is lower than in areas nearby.

For example, the average property price in the district schools of King Edward VI Handsworth in Birmingham is £95843, which is 42% lower than the average in the area.

The largest discount in price was noted in close proximity to schools, Kendrick School and Reading School, where the average price of residential property £202721 which is £108033 less than the average in the region. The biggest average increase in price recorded in the North-West of England – 28% or 43142, Yorkshire and the Humber – 18%, and London 15%.

The study compares the price of real estate in prestigious areas of schools with jobs residing in these districts. So, calculated that the average property price in the areas prestigious schools is £295972, or 8.8 average annual earnings, which is £33740 pounds.

For example, residential property in the London area postcode Henrietta Barnett School the most expensive – here the average price of a typical residential property is £863340 – the equivalent of 20.6 average annual wages in the area.

The houses in the district schools Tiffin Girls’ School and Tiffin School are a 13.3 average annual earnings. But the district close school King Edward VI Handsworth in Birmingham the most affordable in order to buy a house here, need only 3.3 annual earnings.

Obviously, every parent wants his child to attend the prestigious school, which increases the demand for real estate in the area of good schools. However, the increased demand creates a shortage of properties that makes its purchase for many families with average incomes can not afford.

®Maxim Savitsky. 28.10.2013

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