Recent research by The Good Schools Guide has suggested that the UK's best performing state schools are considerably pushing up local house prices.
On average, house prices in the catchment areas of the most popular state schools are more than 20% higher than those just outside their boundaries.
The study found that on average, concerned parents are prepared to pay an extra 22% to live close to their preferred schools, which are often grammar schools.
Homes sharing a postcode with one grammar school in Manchester were found to be as much as three times more expensive than those in the same local authority.
One spokesperson for the research felt that this trend is a legacy of the credit crunch:
'Since the downturn demand for places at top performing schools has in some cases put pressure on family house values as some parents who traditionally may have chosen the fee paying route have instead elected for state schools.'
While Jannete Wallis, of The Good Schools Guide, has a feeling it is all to do with university places:
"This house price premium has partly been driven by concern about university entrance because universities are being encouraged to look more carefully at state school applicants. Our aim is to help parents find a school that they would move house to be near."
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