Parents in England face paying a premium of £53,000 typically for their family to live near a top-performing state school.
Average property prices have reached £366,744 in the postal districts of the 30 state schools in England which achieved the strongest GCSE results in 2015, research from Lloyds Bank found.
The report says homes near Altrincham Grammar School for Girls are trading at more than £150,000 above the average in surrounding areas.
That's the sixth highest premium in the country.
Properties near Clitheroe Royal Grammar School, are £79,455 above the average.
Lloyds used Land Registry house price figures as well as 2015 GCSE performance data from the Department for Education.
"Schools with the best exam performance are proving to be an increasingly strong draw for home movers, as we've seen house prices rise sharply in locations close to such schools. "The popularity of areas close to high performing schools may mean that homes remain unaffordable for buyers on average earnings."
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There have been celebrations and some commiserations across the region today as thousands of pupils collected their GCSE results.
Nationally there has been a record fall in pass rates with girls continuing to do better than boys.
- Watch Michael Worrall's report from one high school in Cheshire which is celebrating a rise in A star to C grades.
Students at Wade Deacon High School in Widnes are celebrating after receiving their GCSE results.
We'll have a full roundup on the tears and joys of GCSE results day in the North West on Granada Reports at 6pm.
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These parents are calling on others who've been fined for taking their children out of school for holidays, to fight back.
Hannah and Neil Hynes hoped to save at least a thousand pounds on their holiday to Spain in May - but they were warned they faced a fine of £240.
But they challenged the fine and Manchester city council backed down.
This from our correspondent Amy Welch:
A headteacher who was leaving her job after 34 years was treated to a surprise dance routine by pupils and staff.
Mrs Julie Heaton joined St Michaels CE Academy in Chorley in 1982 as a teacher of PE. She retires this year after being headteacher for 5 years.
Pupils of the school suggested organising a surprise dance routine to show their appreciation of Mrs Heaton's dedication to the school.
All pupils (over 1200 of them) and members of staff were taught the routine to Simply the Best by Tina Turner and on Thursday 21st July everyone gathered to surprise the Head.
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A parents project in Greater Manchester is getting a special award. The Key To The Door Toys scheme provides vital advice and support to parents who're under 25.
The award is being presented by singer and TV presenter Kimberley Wyatt. Kimberley, who has an 18 month old daughter, will join one of the workshops and meet young parents and staff from the project.
The courses aim to improve parenting, life, and employability skills and enable people in the same situation to share their experiences.
Students across the region have experienced the highs and lows of A-level results day, so important to the future of tens of thousands of young people across the north west. Record numbers of students have been offered places at university.
In our region there was a small increase in the exam pass rates, and in those awarded the top grades of A and A star. One girl even got offered a place at Oxford after overcoming mental illness.
This report from our correspondent Rob Smith.