Top school places will cost you

A NEW study has revealed the asking price premium parents will need to pay if they want to secure a place for their child at an “outstanding” state primary school.

Across England, 86 per cent of “outstanding” state primary schools are oversubscribed, leading to fierce competition for school places — and for properties in the relevant catchment areas.

The average “primary school premium” to move from an area in the successful admission area of a school that is rated as “requires improvement” by Ofsted (grade three) to a property in the successful admission area of an “outstanding” school (grade 1) stands at £52,372 in England.

In percentage terms, the West Midlands has the biggest premium of 32 per cent — or £52,919 more. The neighbouring region of the East Midlands has the lowest premium of 13 per cent, though that still means paying £23,325 more.

However, in terms of price, London unsurprisingly tops the poll — with the South East not far behind.

In the capital, it would cost £80,542 more to secure a place at an “outstanding” school, with an average asking price of £678,595.

Meanwhile, in the South East, where the average asking price is £408,201, the primary school premium is calculated at £71,979.

To go from a “good” (grade two) school to a grade one school costs a primary school premium of £40,215 in the South East.

Currently, 20 per cent of primary schools in England are rated “outstanding”. A much bigger 62 per cent are rated “good”.

The difference between sending your child to a “good” school versus an “outstanding school is £37,000 more on average according to the study for the website 192.com’s “Find A School” service.