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According to a new survey from Santander, 1 in 4 families move and are willing to pay an extra 12%, to get within their desired school catchment area. This adds nearly £27,000 to the average home price.
Further sacrifices
Other findings were that 20% changed jobs, 20% had to downsize and 19% relocated to somewhere they felt less safe.
Short Sitting
The report also reports that 44% will move away, once a place is secure and 26% planning to stay put. In London, 66% plan to move.
Regional view
The North-East heads the list where 37% of families have bought or rented compared to only 12% in East of England. The price premium for a good catchment home ranges from 5% (£6,400) in Northern Ireland to a whopping 17% (£81,800) in London.
