Strong growth seen in university towns

Published on: 19/08/2007

People who buy property in towns with a university tend to see more of an increase in their house prices, according to new research.

Figures published by Halifax Estate Agents reveal that, on average, university town property values increased by 14 per cent, while the national average for the increase of house prices was 11 per cent.

In particular, seven university towns saw at least a 50 per cent increase in average property prices – Belfast, Aberdeen and Dundee were the top three, with Belfast property prices increasing by 97 per cent over the last three years.

Highly ranked universities also saw high property price rises – the top 20 universities according to the Times had a premium of 37 per cent to the average UK house price.

Halifax Estate Agents marketing director Colin Kemp said: “University towns are popular choices for home movers because they usually have a wide range of local facilities, while investors have been attracted by the steady increase in university populations.”

The newly published Times Good University Guide has again placedOxford University at the top for the sixth year in a row. Average house prices in Oxford are around 330,000, a seven per cent premium compared to property in Oxfordshire.


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