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According to a new research, primary schools with good reports add up to a 70% to the value of homes in their catchment areas across all regions of the UK, particularly in Yorkshire and Humberside.

Economists at the Nationwide Building Society isolated the impact of school performance on house prices by stripping out the effect of other characteristics, such as a property's size, neighbourhood, fittings and other variables, just to find out that it adds more to property value than a second bathroom, but somewhat less than a 10% increase in floor area.

The study also suggested that building loft conversions or adding extra bedrooms typically add more value to a home than the proximity of a good primary school.

Chief economist at the building society Martin Gahbauer said: "The extent to which primary school performance affects property prices will depend upon the range of schools in the area.
The quality of local schools is likely to be a consideration for parents when buying a home, but it is only "one of a number of factors" that have an effect on the price of a home.'

Figures show that schools where every 11-year-old passed their Sats exams boosted house prices in their areas by thousands of pounds. And homes in areas with a combination of good state and independent school options can be worth two or three times their county average.

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