Buyers face paying a property premium of up to £275,000 to purchase a home near one of England's top state schools, data shows. 

Parents or guardians wanting a home right by Bishop Vesey's Grammar School in Sutton Coldfield face the steepest property price premium. 

Properties in the B74 postcode district command an average price of £509,964, which is £275,814 or 54.1 per cent more than the Birmingham average of £234,150.

Yopa said the average home in postcodes home to a top 50 state secondary school has a price tag of £415,791. 

This was £40,574 more expensive than the average of £375,217 across the wider local authorities in which the top schools are located, representing a premium of 9.8 per cent.  

Sutton Coldfield Grammar School for Girls had the second highest property premium. 

The average home across the B73 postcode district, near Sutton Coldfield Grammar School for Girls, costs about £402,432, a premium of £168,282, or 41.8 per cent, compared to the wider Birmingham average.

Dr Challoner’s Grammar School in Amersham ranked third. Homes within the HP6 postcode district average £796,141, around £305,633, or 38.4 per cent, more than the Buckinghamshire average of £490,508.

The Henrietta Barnett School in London followed closely behind, with the average property across NW11 commanding a 37 per cent premium versus Barnet, equivalent to an additional £354,288.

Buyers looking for a home near Dr Challoner's High School in Little Chalfont can expect to pay a property premium of 32.8 per cent, while buyers looking for a property close to Altrincham Grammar School for Girls or Altrincham Grammar School for Boys can expect to stump up a premium of 28 per cent. 

Sir Thomas Rich's School in Gloucester also made it into the top ten property premium list, with buyers forking out a 27.1 per cent premium. 

Langley Grammar School in Slough also commands a hefty property price premium, at 25.9 per cent. Colyton Grammar School also made it to the top ten locations with the steepest premium, at 25.1 per cent. 

Verona Frankish, chief executive of Yopa, said: 'For many homebuyers with children, the quality of local schools is one of the most important considerations when deciding where to live and, with the new school year approaching, education will be front of mind for many families considering their next move.

'This sustained level of demand naturally helps to support house prices within reach of the very best schools and our research shows that, on average, buyers face paying around £40,000 more to live within the postcode district of a top-performing state secondary.

'In some cases, this premium is considerably higher and so it’s important that parents consider the additional cost of buying in their desired area when planning a move, particularly in the current market where affordability remains stretched by higher mortgage rates.'

Top state schools with more reasonable property price premiums

Having a decent state school nearby does not always necessitate a steep property price premium.  

Across the postcode district home to Reading School and Kendrick School, the average property costs £276,870, which is £84,373, or 30.5 per cent, below the wider Reading average of £361,243.

Homes within BT28, home to Friends’ School Lisburn, also came in 30.2 per cent below the wider Lisburn and Castlereagh average, while the N9 postcode district, home to The Latymer School in London, was 30.1 per cent more affordable than the wider Enfield average.

Frankish said: 'For families willing to cast their net a little wider, these areas could provide the best of both worlds.'

A catchment area is the geographic zone around a school where children are given priority for admission. 

Parents or guardians often seek to live within these areas to increase the likelihood of securing a place at their preferred school. 

Homes in high-demand catchment areas are often in limited supply, pushing up prices further.