Parents pay £100,000 to live in good catchment areas

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Research conducted by YouGov on behalf of investment fund manager Fidelity International suggests that 21 per cent of London's parents would be willing to pay as much as £100,000 more for a home in the right area.

As house prices fall and are expected to continue, the cost of private education keeps rising.

As a result, the poll found that nine per cent of London parents are now willing to spend up to £5,000 more on a property near a good state school.

While only two per cent would be willing to spend over £100,000 extra, another 19 per cent would pay between £5,000 and £100,000 more for access to a good free education. More than a third of parents from London said that the quality of schools in an area would play a big part in their decision to buy a house.

The Private Schools Directory and Guide says that parents who want private schooling and a full university education for their children will pay as much as £300,000 per child.