The study by Santander Mortgages also revealed that properties within distance of the top 1,000 state primary schools carry an 8% price premium.
Parents with school-age children – who would move to live in their preferred catchment area – are willing to pay £26,860 more than the average UK property price for their children to secure a place at a top school.
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Miguel Sard, managing director of Mortgages at Santander UK, said: “If families are looking to move into a catchment area specifically to boost their chances of getting into an elite school, they can expect to pay a hefty price.
“It is important when considering purchasing a property that people understand the true costs as the house price is just one of many.
“Stamp duty, solicitors’ fees and moving costs mount up.”