According to research carried out by Lloyds Bank, average property prices in the postal districts of the top 30 schools were 12% higher than neighbouring locations.

The top 30 schools were identified as those which achieved the best GCSE results last year.

In a third of postal districts next to the top state schools, parents are paying a premium of more than £80,000. Conversely, in another third of districts near top schools, the average property prices is below the average of those in neighbouring areas.

Properties near the Henrietta Barnett School in North London come with the biggest premium attached, with homes in the postal district costing 87% more than neighbouring areas, at an average of £402,600.

Properties near Tiffin Girls’ School and Tiffin (Boys’) School in Kingston-upon-Thames come next, with the average home in the postal district costing 51% more than those in neighbouring areas, at £207,591. 

Conversely, properties near King Edward VI Handsworth School in Birmingham cost 42% less than the county average at £67,738. And in the area close to both Kendrick School and Reading School the average house prices is £108,033 lower than the county average, at £202,721.

The average property price of £295,972 in the postal districts of the 30 best  state schools is 8.8 times average gross annual earnings (£33,740), compared to an England-wide average of 7.3 times earnings.

Homes near the Henrietta Barnett School are the least affordable, with the typical property price of £863,340 in this part of north London equating to 20.6 times gross average annual earnings in the area.

Properties near King Edward VI Handsworth School in Birmingham – the least expensive in this survey at £94,843 – are the most affordable with a house price to earnings ratio of 3.3.

Nitesh Patel, housing economist at Lloyds Bank said:

“All parents want to ensure their children have access to the best schools, so it is not surprising that homes in areas close to the top performing state schools typically command a significant premium over neighbouring areas.

“However, with the availability of suitable homes in short supply, high demand has led to average prices in many of these areas being out of reach for many buyers on average earnings.”