People counting cost of living near top state schools

Research conducted by Lloyds TSB has found that some people's cost of living is much higher in certain places in the UK.

It stated that parents face parting with nearly £34,000 extra to secure a home close to the country's top performing state schools.

This year, house prices in the postal districts of the top 30 schools in England were on average 12 per cent higher at £33,631 than the neighbouring locations.

Parents that do decide to live near these schools with their family are being hit in the pocket and at a time when Britain is experiencing the longest double dip recession it has endured for over half a century.

Housing economist at Lloyds TSB Suren Thiru said in general, homes close to top schools command a significant premium over close-by areas.

"The downside of high property values in many of these areas is that it can create a financial barrier to attending the best non-fee paying schools," the expert added.

By Paul Thacker