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Sunday, 22 July 2018
HOUSE prices near top schools are one thing, but what about universities? Bricks and mortar boards, so to speak.
New research has shown that house prices in university towns grow by an average of 22 per cent over the course of a degree.
In the same time it takes to undertake the average degree course, university towns across the UK recorded an increase in average house price of 22.5 per cent (£38,666), according to the Halifax.
Across 65 university towns, the average house price has grown from £172,179 to £210,845 in the space of three years — an increase of £38,666, equivalent to a rise of £1,074 per month or 22.5 per cent since 2014. The top 10 university towns with the largest price growth are all located in southern England.
The largest price growth was in Guildford, home to the University of Surrey, which increased in value by £105,362 and also doubles up as the most expensive university town with an average house price of £511,673.
This is nearly two and a half times higher than the average for all universities.
The next most expensive is Winchester with an average house price of £458,228, followed by Uxbridge where Brunel University is located (£441,273), Oxford (£424,258) and Cambridge (£397,170). The greatest percentage increase was to be found in Bedfordshire, where house prices increased by 42 per cent from £200,086 to £284,707 in the last three years.
This was followed by Coventry, where the average price has grown from £154,573 to £207,974 — an increase of 35 per cent.
By contrast, the least expensive student town is Paisley, home to the University of the West of Scotland, with an average price of £122,681 – about quarter of average price in Guildford.
Others include Bradford (£127,643), Hull (£134,938), Sunderland (£138,548) and Middlesbrough (£142,412).