Sending a child to a top state school could be costing parents as much as £47,000 in increased property costs according to research by Barclays Private Clients, the wealth management arm of Barclays.

Property in the catchment areas of the country’s top 50 community primary schools is on average 33 per cent higher than property in the local surrounding areas, a price that many parents are prepared to pay to get their child into the best school.

The average house price in the catchment areas of the top 50 schools was £194,507 in 2002 compared to an average of £146,676 in the surrounding areas. On this basis, parents are paying an extra £47,831 to live in the catchment area of a top rated primary school.

This difference is even more pronounced in some parts of the country. In Chesterfield, Derbyshire, houses in the catchment area of Ashover Primary School (No.20 ranked community primary school nationally) were around 265 per cent more expensive than other houses in Chesterfield, at £275,890 compared to £75,643, a whacking £200,000 premium.

And parents who wanted to send their children to Holbeton Primary in Plymouth could expect to pay 240% more for their home, paying an even greater premium at £223,000.

Russell Prior director, Barclays Private Clients Premier Banking said:

“The figures highlight the fact that people are prepared to pay a housing premium to get their children into a top state primary school.”

“However, as we reach the top of the housing market, this analysis provides an interesting new angle on the ongoing dilemma of whether parents should save for private education or move near a top rated state school.”

“Ordinarily private education is seen as expensive but as can be seen from the study education costs are not as transparent as might at first be thought.”

But homes in the catchment areas of good schools were not always more expensive.

• Property near Gawsworth primary in Macclesfield, Cheshire, ranked 9th was priced at 13% less than homes in the surrounding area.
• Homes close to Little Leigh Primary in Northwich, Cheshire, ranked 32nd, sold for 29% less.
• Houses near High Beeches Primary in Harpenden, Hertfordshire, ranked 23rd, went for 22% less.

Overall, parents could expect to pay a premium on property in the catchment areas of 37 of the top 50 primary schools, the study found.

A new guide to planning for private education, as well as those for retirement and moving house are available from Barclays Private Clients via Barclays branches or by telephoning 0845 850 1000

The top ten average house prices in school catchment areas versus average house prices in the school’s town schools are shown below.