The towns, cities and boroughs closest to the UK?s best universities are some of the best performing areas for house price growth, it has emerged
Buying a house close to a well-regarded university could be a wise move, according to property website Rightmove. It says more than 25% of university towns have seen house price increases of at least 20% over the past year.
For instance, Kensington, where Imperial College is based, has seen an average increase of £613,024 in the past year. Other well-known university towns also have healthy average asking prices, with Oxford at £354,927, Cambridge at £315,803 and Warwick at £287,263.
Part of the reason for this effect is that many parents opt to invest in buy-to-let properties, in the knowledge that University towns are popular choices anyway because they usually have a wide range of local facilities, while out and out investors are attracted by the steady increase in university populations.
Miles Shipside, Commercial Director at Rightmove, said: ?For many parents, the notion of their child leaving home and learning to survive on their own is a very worrying thought. Coupled with increasing rental yields and a steady demand, investing in a property close to a university is a popular choice.?