Almost half of parents are sacrificing their ideal home and in many cases overstretching themselves financially to secure an address within the catchment of a desirable school, according to new research.

An extensive survey of nearly 5,000 buyers by estate agency Yopa found that 31% of parents had moved house specifically to qualify for their chosen school, with demand so fierce that more than a fifth resorted to renting in the area while waiting for a suitable property to come to market.

Competition is driving up prices. One in four parents admitted paying above asking price, with almost half of these forced to stretch 5 to 10% higher, while 9% paid as much as 20% more and 5% bid above that.

FINANCIAL STRAIN

The strain on household finances is stark: 38% said they borrowed beyond their means, typically by taking on larger mortgages than they had planned. Others relied on family assistance or other external support to close the gap.

Parents are also planning years in advance. Some 13% moved into their chosen area at the birth of their child, while almost four in ten relocated at least a year before applying for primary school. A minority even offered sellers gifts, financial incentives or personal letters to stand out in sealed bidding processes.

Despite the sacrifices, most achieved their aim, with 84% securing a place at their preferred school. But almost half conceded they had to compromise on their “dream home”, whether by accepting less space, fewer amenities or a location they would not otherwise have chosen. More than two thirds reported the process caused significant stress for their family.

SIGNIFICANT SACRIFICES

Verona Frankish, chief executive of Yopa, said: “School catchment areas remain one of the most influential factors for family buyers entering the market, and as our research shows, many parents are prepared to make significant sacrifices to secure a place for their child at their school of choice.

“Whether it’s paying above the odds, overstretching financially, or compromising on the dream home, education consistently takes priority.

“We’re also seeing parents plan further ahead than ever before, in some cases moving years in advance, which only adds to the pressure and competition in these highly desirable pockets of the market.

“It underlines just how much weight education carries in the decision-making process and why properties in sought-after catchments continue to command such strong demand.”