Homebuyers in Birmingham face considerable additional costs when purchasing properties near some of the nation’s highest-performing state secondary schools, with average premiums exceeding £40,000 and reaching up to £275,000 in certain areas.
A recent analysis conducted by Yopa examined current house prices across postcode districts housing the country’s top 50 state secondary schools. The study compared these prices with average property values in the wider local authorities to determine the financial impact of buying close to leading state schools.
Findings reveal that properties within postcode districts containing a top 50 state secondary school carry an average price tag of £415,791. This figure surpasses the average house price of £375,217 across the broader local authority areas by £40,574, representing a price premium of 9.8%.
READ MORE: Andy Burnham’s Government Urged to Bolster UK Food Supply Resilience
READ MORE: Serious Collision Closes Stratford Road Near Aldi
The premium is notably higher in some locations. Sutton Coldfield’s B74 postcode district, home to Bishop Vesey’s Grammar School, tops the list. Here, average property prices stand at £509,964-an increase of £275,814, or 54.1%, compared to the Birmingham average of £234,150.
Similarly, Sutton Coldfield Grammar School for Girls in the B73 postcode area is associated with an average home price of £402,432, equating to a £168,282 premium, or 41.8%, over the wider Birmingham average.
Verona Frankish, CEO of Yopa, commented on the findings, stating, “For many families with children, the quality of local schools is a priority when selecting where to live. With the new school year approaching, education remains a key concern for prospective buyers.”
She continued, “This consistent demand contributes to supporting elevated house prices near the top-performing schools. Our research shows that, on average, buyers pay approximately £40,000 more to reside in postcode districts containing these schools.”
“However, some areas exhibit substantially higher premiums, so parents need to carefully consider these additional expenses when planning a move, especially given current market conditions characterised by stretched affordability due to higher mortgage rates,” added Frankish.
She also highlighted that not all top-quality state schools attract such premiums. “There are several highly ranked schools where the surrounding property prices are below the local authority averages. Families willing to broaden their search may find these areas offer an excellent balance between education quality and affordability.”