{"id":4326,"date":"2024-08-21T16:58:13","date_gmt":"2024-08-21T16:58:13","guid":{"rendered":"https:\/\/www.yopa.co.uk\/homeowners-hub\/?p=4326"},"modified":"2024-08-21T17:05:26","modified_gmt":"2024-08-21T17:05:26","slug":"are-you-paying-a-premium-to-live-by-the-best-schools","status":"publish","type":"post","link":"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/are-you-paying-a-premium-to-live-by-the-best-schools\/","title":{"rendered":"Are you paying a premium to live by the best schools?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">It&#8217;s official. Living near \u2018outstanding\u2019 rated schools commands a house price premium &#8211; both compared to lesser rated schools and the surrounding area.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here at Yopa, we analysed current housing market data for almost 18,500 schools up and down England*, looking at the average house price in each schools postcode, how the cost of homeownership differs depending on Ofsted rating, and the premiums commanded when compared to the wider local authorities in which they are found. <br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can view the full list of all 18,420 schools and their property market performance using the map below.<\/p>\n\n\n\n<iframe loading=\"lazy\" width=\"100%\" height=\"800\" frameborder=\"0\" src=\"https:\/\/yopa.carto.com\/builder\/954c9de3-770e-4821-8f9a-1e8e0a3d74a3\/embed\" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\">Our research shows that higher house prices generally correspond with better schools, as property costs an average of \u00a3359,000 near schools rated as\u00a0 \u2018outstanding\u2019, \u00a3305,000 near \u2018good\u2019 schools, \u00a3277,000 in postcodes where a school \u2018requires improvement\u2019, and finally, \u00a3243,000 for schools branded as \u2018inadequate\u2019.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It therefore costs an average of \u00a3116,000 more to live near an \u2018outstanding\u2019 school compared to \u2018inadequate\u2019.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With Labour unveiling plans to scrap VAT relief for private schools, it\u2019s possible more parents could see it as more cost effective to put their children into quality state schools in the years ahead. This could have the effect of widening the property price gap between areas near the best and the worst schools.<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Where good schools command the biggest premiums<\/strong><br><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The biggest chasm between the cost of property near a school and the surrounding area is in Devon\u2019s TQ8. It costs a huge \u00a3822,000 to live in the same outcode as \u2018good\u2019 rated Salcombe Church of England Primary School, 151.5% higher than the local authority price of \u00a3327,000.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the Northumberland outcode of NE20 there are six schools, with five rated \u2018good\u2019 and one \u2018outstanding\u2019. Living in that same outcode costs \u00a3450,000, more than double (121.7%) the typical local authority price of \u00a3203,000.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s a similar story in Cumberland, where the CA12 boasts four \u2018good\u2019 schools and one \u2018outstanding\u2019 school and commands an average price of \u00a3378,000 &#8211; 121.6% more than the local authority price of \u00a3170,000.<br><\/p>\n\n\n<div class=\"valuation-widgets\">\n    <div class=\"valuation-widgets__col\">\n        <a href=\"https:\/\/www.yopa.co.uk\/online-valuation\" class=\"valuation-widget\">\n            <div class=\"media\">\n    <div class=\"media__media\">\n        <img decoding=\"async\" src=\"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/wp-content\/themes\/yopa\/assets\/images\/icon-house.svg\" alt=\"\" role=\"presentation\">    <\/div>\n    <div class=\"media__inner\">\n        <div class=\"media__heading\">\n            Instant online <span class=\"chevron\">valuation<\/span>        <\/div>\n        <div class=\"media__content\">\n            <p>Get a rough estimate of your home's value now.<\/p>        <\/div>\n    <\/div>\n<\/div>\n        <\/a>\n    <\/div>\n    <div class=\"valuation-widgets__col\">\n        <a href=\"https:\/\/www.yopa.co.uk\/property-valuation\" class=\"valuation-widget\">\n            <div class=\"media\">\n    <div class=\"media__media\">\n        <img decoding=\"async\" src=\"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/wp-content\/themes\/yopa\/assets\/images\/icon-currency.svg\" alt=\"\" role=\"presentation\">    <\/div>\n    <div class=\"media__inner\">\n        <div class=\"media__heading\">\n            Face-to-face <span class=\"chevron\">valuation<\/span>        <\/div>\n        <div class=\"media__content\">\n            <p>Book an appointment with your local Yopa agent.<\/p>        <\/div>\n    <\/div>\n<\/div>\n        <\/a>\n    <\/div>\n<\/div>\n\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Going against the trend<\/strong><br><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">While it typically costs more to live near \u2018outstanding\u2019 schools, it\u2019s not always the case.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, being in the S4 outcode with the \u2018outstanding\u2019 St Catherine&#8217;s Catholic Primary School (Hallam) Sheffield costs \u00a394,000, -57.6% less than the local authority price of \u00a3221,000.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In contrast, the East Sussex postcode of TN3 is home to an average house price some 121.1% higher than the surrounding area, despite the fact that St Michael&#8217;s Primary School is rated as \u2018requires improvement\u2019.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Therefore, while house prices generally correlate with better schools, it isn\u2019t always the case.<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Data Tables and Sources<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><em>*Data based on analysis of 18,420 schools in England with an additional 37 excluded due to a lack of house price data at postcode level.<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.gov.uk\/school-performance-tables?_ga=2.9608821.1391712702.1723643500-1143691456.1723643500\">School performance data sourced from Gov UK &#8211; Compare the performance of schools and colleges in England and includes schools in England only, no post-16-only options, no special, overseas or open schools. (August 2024)<\/a><\/li><li><a href=\"https:\/\/propertydata.co.uk\/\">Postcode house price data for each school sourced from PropertyData.<\/a><\/li><li><a href=\"https:\/\/www.gov.uk\/government\/collections\/uk-house-price-index-reports\">Wider local authority house price sourced from Gov UK &#8211; UK House Price Index (June 2024 &#8211; latest available).<\/a><\/li><li>House price premium between school postcode and wider local authority calculated by Yopa.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s official. Living near \u2018outstanding\u2019 rated schools commands a house price premium &#8211; both compared to lesser rated schools and the surrounding area. Here at Yopa, we analysed current housing market data for almost 18,500 schools up and down England*, looking at the average house price in each schools postcode, how the cost of homeownership<\/p>\n","protected":false},"author":4,"featured_media":4329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5,1],"tags":[],"class_list":["post-4326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-buying"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Are you paying a premium to live by the best schools? - Yopa Homeowners Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/are-you-paying-a-premium-to-live-by-the-best-schools\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are you paying a premium to live by the best schools? - Yopa Homeowners Hub\" \/>\n<meta property=\"og:description\" content=\"It&#8217;s official. Living near \u2018outstanding\u2019 rated schools commands a house price premium &#8211; both compared to lesser rated schools and the surrounding area. 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