Being in the catchment area of a top school is important to parents, and many will pay a premium to bag such a property.

In fact, they are willing to pay an average of £53,000 more to live in an area close to a top performing state school – an increase of £13,000 (31%) from last year, according to Lloyds Bank.

It noted that average property prices have reached £366,744 in the postal districts of the top 30 state schools in England which achieved the strongest GCSE results in 2015, with homes typically trading at a premium of £53,426 – or 17% – compared to the county average of £313,318.

And six areas command a staggering price premium of over £150,000 compared to their surrounding areas. Properties in the postal district of Beaconsfield High School have the largest premium, with homes trading at £629,021 (171%) above the county average house price (£367,191), at almost £1m.

House prices in the postal district of The Henrietta Barnett School trade at a premium of £429,506 (74%) compared to the whole of Barnet – the second highest premium; followed by Sir William Borlase’s Grammar School in Buckinghamshire (premium of £220,082) and the Tiffin Girls School in Kingston upon Thames (£192,011 premium).

Good investments

As well as securing entrance into a leading school for their children, homebuyers have also benefitted from making a good financial investment in recent years.

Average house prices have risen by £76,000 since 2011 in areas with a leading state school, an increase of 26%, while the average house price has grown over the same period by 18%.

Andrew Mason, Lloyds Bank mortgage products director, said: “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.

“The popularity of areas close to high performing schools may mean that homes remain unaffordable for buyers on average earnings.”