£34,000 extra to live near England's top state schools

Homes close to top schools cost nine times annual average earnings with school house price premium highest in the North West

Parents face parting with almost £34,000 extra to secure a home close to the country's top performing state schools, according to new research by Lloyds TSB. In 2012, house prices in the postal districts of the top 30 state schools in England - defined as those secondary schools that achieved the best GCSE results1 in 2011 - were on average £33,631 (12%) higher than the neighbouring locations in their county. The house price premium associated with living close to the country's top state schools (£33,631) is almost three times the average annual private school fee of £11,422.

Overall, the typical price of a home in the postal districts of England's best state schools is £303,902. This is almost a third higher (29% or £67,581) than the average house price across England of £236,321.

A fifth of top state schools command a housing premium of over £100,000...