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Uni town prices £20,000 higher

Catherine Deshayes

Halifax has published its latest University Town House Price Review, a survey that tracks house price movements across the UK's university towns...

The research suggests that parents who bought properties for their student children and buy-to-let landlords who built portfolios in university towns have seen strong returns over the past five years.

The research found that in 35 of the 64 towns surveyed, house prices were on average £20,335 more costly than in the surrounding areas.

The premium was at its highest in Winchester: the city's average house price was 50 per cent, or £114,489, above the average for Hampshire.

Other university towns to have an average house price premium in excess of £20,000 include Bath (£98,562, or 43 per cent), Cambridge (£90,699, or 44 per cent), Warwick (£75,454, or 46 per cent), Oxford (£39,797, or 14 per cent), Newcastle (£25,005, or 16 per cent) and Stirling (£20,296, or 13 per cent).

According to the survey, the average weekly rent paid by students in private accommodation stood at £96. Regionally costs ranged from £64 in Northern Ireland to £116 in Greater London.

In Manchester, the city with the largest student population, average house prices increased by 63 per cent in the past five years, compared with a national average of 44 per cent.

The most expensive university town in the UK is Guildford, where the average house costs £363,503; followed by Winchester (£343,332) and Bath (£326,403).

Hull is the least expensive university town; an average house costs £124,108, despite property prices in the city having risen 79 per cent during the past five years.

Since 2003, three university towns have seen exceptionally strong house price rises: in Belfast the average cost of a property rose by 105 per cent; Dundee 101 per cent and Bangor 100 per cent.

Source: www.homemove.co.uk