University towns seen strong price rises

University towns seen strong price rises

Property prices in university towns have increased by an average of 22 per cent over the past three years, according to new research.

Halifax conducted a study over 65 university towns across the UK and concluded the average house price has increased from £172,179 to £210,845 since 2014.

The top ten towns with the largest rise in prices were in southern England, with the highest increases seen in Guildford - with a £105,362 rise.

In Scotland, the increases were less prominent, with Paisley remaining the most affordable student town, with an average price of £122,681.

“While it is well documented that the student housing market can be lucrative for private landlords receiving monthly rental incomes, this research also indicates the potential earnings from bricks and mortar alone,” said Russell Galley, managing director of Halifax Community Bank.

“Over the last three years, parents who bought a property for their child to live in while undertaking their studies, could have seen an average gain of 22 per cent on the value of the property. They may also have benefitted from rental income from housemates or flat sharers,” he added.ADNFCR-1222-ID-801840355-ADNFCR

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