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Prices for London homes with good schools nearby rocket by up to a 74% premium

Prices for London homes with good schools nearby have rocketed by up to a 74% premium, according to a high street bank.

The Henrietta Barnett School. Credit: Google Street View

House prices around the The Henrietta Barnett School trade at a premium of £429,506 (74%) compared to the whole of Barnet, a new study by a high street bank has revealed.

It represents the second highest premium in Britain, measuring the extra cash home buyers are prepared to pay for good schools, according to the report by Lloyds Bank

It's closely followed in London by Tiffin Girls School in Kingston upon Thames (£192,011 premium).

London's best performing areas relating to good schools are as follows:

School, Postal District, County, Average House Price 2016* (£), Average House Price in County 2016 (£), Premium to County 2016 £ Premium to County 2016 %

  • The Henrietta Barnett School, NW11, Barnet, £1,011,016, £581,510, 429,506, 74%
  • The Tiffin Girls' School, KT2, Kingston Upon Thames, £721,078, £529,066, 192,011, 36%
  • Wilson's School, SM6, Sutton, £355,046, £376,356, -21,310, -6%
  • Wallington County Grammar School, SM6, Sutton, £355,046, £376,356, -21,310, -6%
  • Sutton Grammar School, SM1, Sutton, £336,412, £376,356, -39,944, -11%

In addition to securing a place for their children at one of England’s current Top 30 state schools, buying a home nearby is also proving to be a shrewd investment.

Schools with the best exam performance are proving to be an increasingly strong draw for homemovers, as we’ve seen house prices rise sharply in locations close to such schools.

Our analysis shows that since 2011 average house prices in areas with the best state schools have increased by £76,000, compared to a national increase of £42,145.

And seven of the areas covered in this survey have seen house prices rise by over £100,000 in the last five years.

– Andrew Mason, Lloyds Bank

Parents who bought a home near one of the Top 30 schools just before their child first entered secondary school in 2011 have seen an average house price rise of £76,000, from £290,683 to £366,744, in 2016 - an increase of 26%.

This is a significantly faster rise than in England as a whole, where the average house price has grown over the same period from £240,208 to £282,353 – an increase of £42,145 or 18%.