University towns see dramatic 5-year increase Published: 01/09/2008

Property prices in university towns across the country have seen significant increases in the past five years, new research reveals.

A study by Halifax found that 23 university towns in the UK have seen their average property value shoot up by more than 50 per cent since June 2003.

In Belfast, Dundee and Bangor, property values went up by 105 per cent, 101 per cent and 100 per cent respectively between June 2003 and June 2008.

Other top-performing areas included Bradford with a value increase of 94 per cent, Aberdeen with a rise of 95 per cent and Stoke on Trent with a rise of 52 per cent.

Guildford was the university town with the most expensive properties, with an average of £363,503.

Winchester and Bath were next in line with average values of £343,332 and £326,403.

Landlords looking to buy property which is more affordable should head for investment in Hull or Stoke on Trent with average values of £124,108 and £130,336 respectively.

Commenting, Nitesh Patel, Halifax economist, said: "Over a third of the university towns in this review experienced average house price growth of over 50 per cent in the last five years.

"While it can be a good investment, the decision to buy a property for a son or daughter at university ultimately depends on the parents' personal circumstances and property prices around the university in question."

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