When Clara Lopez and her husband found out they were expecting their third child in 2023, they knew they would have to move house. But they were determined not to move out of their state school’s catchment area.
They had bought their first home on the border between Chiswick and Hammersmith & Fulham in 2016, via a shared ownership scheme. “It was our only option to get on the property ladder,” Lopez says.
By 2019 they had staircased from their initial 25 per cent to full 100 per cent ownership. But in 2020, their service charges shot up from £150 to £300 a month. “The service charge was fine until Covid kicked in,” she says. “Since then, it doubled every year.”
“Leaving the catchment area wasn’t even on the table.”
With two young children and another on the way, they knew they needed more space. Moving out of the area would allow the budget to go further — but the Lopez’s were prepared to pay a premium to stay within the catchment area for their children’s primary school.
“Leaving the catchment area wasn’t even on the table,” states Lopez. “Our eldest was in a fantastic primary school, and we were willing to pay extra for our new home to make sure all three kids could go there. Plus, we love the neighbourhood and we’re close to the secondary school we want, so it was a no-brainer"
They found a flat in a maisonette for £540,000, which they plan to add a loft extension. But renovations are on pause while interest rates remain high. “We couldn’t borrow additional money,” she says.
“We were willing to make that sacrifice to stay in this area.”
Still, they don’t regret their decision to max out their budget to stay in the catchment area.
“I’m not sure exactly how much extra we paid, but I know that for the same amount, we could have bought a house in Gunnersbury Park,” Lopez says. “Still, we were willing to make that sacrifice to stay in this area.”
The Lopez’s are far from alone in paying a premium to live close to their desired school.
Almost two in three parents (63 per cent) have paid or would be willing to pay extra for a home in their chosen catchment area, according to a new report from Santander. That’s a sizeable jump from just over one in four (26 per cent) prepared to pay extra in 2019.
“Many start thinking about moving homes to secure a place at the right school even before the baby has been born.”
Santander found that parents are willing to pay a 12 per cent premium on a house if it’s in the right catchment area.
“It’s clear that nabbing a sought-after primary school place for your child is playing an increasingly significant role in the property market for parents,” said Graham Sellar, head of mortgage development at Santander. “Our research shows many start thinking about moving homes to secure a place at the right school even before the baby has been born.”
Those parents looking to move outside of London to their desired catchment area ended up paying a premium of five per cent, on average, or about £21,215 more for the right address.
A quarter of parents began thinking about moving before they had had children, and were prepared to move 25 miles on average to get into the catchment area for a top state school.
The stress and financial burden takes its toll, with one in five parents reporting that securing a primary school place had a significant impact on their mental wellbeing.
“As a parent myself, I know only too well the sacrifices we make to support our children,” said Sellar.
