Smashing Estate

The recent statistics show, house costs in three university towns such as Guildford Dundee, and Belfast have around doubled during the last five years. The group, which observed home values in 64 university towns without London, informed in nine of these universities towns properties sold at a premium of minimum £20,000 relative to homes in the UK all together, with Winchester imposing the leading such as £114,489 or 50 percent.

In the figures the average home price in Belfast rose by 105% between the month of June 2003 and June 2008, though the recent home price of Halifax drops. Similarly, Dundee saw harshly house price increases of 101 percent during that period; though in Bangor, Gwynedd, and the average homes’ price soared by 100 percent. In the same way other 20 university towns saw average value increases of minimum 50 percent during the last five years, with Aberdeen and Bradford leading the way with boosting of 95 percent and 94 percent respectively. On the other hand among the university town Guildford is the UK’s most expensive in which to get a home, with the average property price £363,503. That price is strictly followed by Winchester cost at £343,332 and likewise Bath price at £326,403, with all of those 10 most expensive university towns being in the South East in the UK. Among universities towns, Hull has the most reasonable accommodation with average house values of just around £124,108, despite the fact that Stoke on Trent price at £130,336 and Bradford cost at £131,464 are just a little more expensive.

One of the economists at Halifax, Nitesh Patel, said:

Over a third of these university towns in this review experienced average house price growth of more than 50% in the previous five years.

He also added:

While it can be an excellent investment, the decision to purchase a home for a son or daughter at university towns ultimately depends on the parents’ personal circumstances and property values around the university in question.