Country houses for sale

University town prices up

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.?