House prices in new university towns 'on the up'

Posted: 15 Aug 2011 12:05:00 GMT

Average house prices in towns with a university established since 1960 have risen over the last decade.

House prices in new university towns across the UK have been on the increase throughout the last decade, it has been found.

New research from Lloyds TSB - which is regulated by the Financial Services Authority - revealed the average cost for property in areas with a higher education learning institute established post 1960 has risen by 70 per cent in the last ten years.

According to the figures, these prices have swelled from £91,612 to £155,953 across the time frame.

In comparison, costs in older university towns rose by a more conservative 64 per cent.

Nitesh Patel, housing economist at Lloyds TSB, noted increases in student numbers are having a positive impact on house prices in and around the places of learning.

"This effect has been heightened in the newer university towns where prices have, on average, risen more rapidly than in the towns that host the more established universities," the industry figure added.
 

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