Parents face house price premium to live near Ofsted rated Outstanding schools in Leeds
Families in Leeds face paying a premium in house prices in order to live near to the best rated schools in Leeds, new data has shown.
Research by online mortgage broker Trussle has revealed that parents in the city will face an average property price of £265,835 to live near an Ofsted rated ‘outstanding’ state secondary school.
In comparison, Leeds had an overall average price of £234,400 over the last year, according to the latest information from the HM Land Registry.
Homes near Allerton High School, in Alwoodley, command the highest house prices.
Alwoodley is home to some of the most expensive properties on the market in Leeds, with some properties selling for more than £1million.
However, parents wanting to live near the King Lane school, which falls under the LS17 7AG postcode, will pay on average £462,250.
This is compared to the overall average price in Alwoodley of £372,486 over the last year.
In east Leeds parents can expect to pay a premium to live near to Garforth Academy.
Garforth is a popular area for families due to it's semi-rural location and easy transport links into both Leeds and York.
Property hunters hoping to live near to the school and within the Lidgett Lane postcode, LS25 1LJ, will pay on average £344,797.
This is more than £100,000 than the average cost of a home in Garforth, which was £243,598 in the year from September 2020 to September 2021.
Over in Morley, in south Leeds, house buyers are, on average, paying an additional £15,000 on average to live near The Morley Academy, in Fountain Street.
Properties in the postcode surrounding the school, LS27 0PD, cost an average of £215,143, according to the data.
This is in comparison to the overall average price of £198,970 over the last year, itself an increase of nine per cent from average prices in 2020.
The Ruth Gorse Academy, in Black Bull Street, is in the LS10 area of Leeds, near the city centre.
On average, people purchasing a home in the immediate postcode (LS10 1HW) will pay £175,541.
This is around £4,000 more than the overall average price in LS10, which was £171,574 over the last year. However, the LS10 postcode covers a wide area and demographic including Leeds Dock, Hunslet, Stourton, and Middleton.
It is not all bad news - families who live near Roundhay School, in the popular Roundhay suburb of north Leeds, can expect to pay less than the average to live near the Ofsted rated 'outstanding' school.
Properties in Roundhay had an overall average price of £360,479 over the last year, according to the latest figures.
The Trussell research found that houses in the LS8 1ND postcode cost, on average, £212,992.
Similarly, in New Farnley, it will cost on average around £10,000 less to live near The Farnley Academy, in Chapel Lane.
Average property prices in New Farnley over the last year are £192,097. This is more than the LS12 5EU postcode average of £184,284.
In West Yorkshire, only two postcodes in the BD3 area of Bradford offered house prices below the average house price in England, with homes near Carlton Bolling College and Feversham Academy costing on average £107,546.
Miles Robinson, Head of Mortgages at Trussle, said: “There is no doubt that the pandemic has changed many aspects of our lives, including our choice of careers, how we spend our time and how we keep in touch with loved ones.
"However our research shows one thing that hasn’t altered; parents’ prioritisation of their children’s education when it comes to choosing a suitable family property.
"The housing market has been thriving since it reopened following lockdown, bolstered by the stamp duty holiday.
"The high levels of demand have acted as a catalyst for growing house prices across the country, whilst city centre locations like London, have suffered small dips in prices.
"This is good news for parents as the elevation of property prices across the board has led to a reduction in the premium parents face when choosing a home close by to an ‘outstanding’ rated secondary school.”
Support the YEP and become a subscriber today. Enjoy unlimited access to local news and the latest on Leeds United. With a digital subscription, you see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Click here to subscribe.