Sunday, August 21, 2005

Buy to let pushes up university property prices

House prices in university towns have soared by 88 per cent in five years and more than doubled in some cases. Issuing the figures yesterday, Halifax, the biggest mortgage lender, said that parents who invested in property for their children while at university would have had a good return on their money.

It said the average cost of a home in the towns and cities of the 20 best-performing universities had slightly outstripped the national average, with prices across the country as a whole rising by 83 per cent since 2000.

Manchester had the biggest rise, the cost of property soaring by 114 per cent to an average £136,603. Bath was next, with a 113 per cent rise to £253,208. In York the cost increased by 109 per cent and prices at least doubled in Birmingham, Sheffield, Nottingham and Durham.
Prices in 14 of the leading 20 university towns and cities exceeded the national average, with only Oxford, Cambridge, London, Warwick, Guildford and Reading lagging.

Telegraph 21 August 2005

Investing in student property has been lucrative for landlords and it's still worth investigating. Do your research. Good properties within walking distance of universities will always have a ready market in student tenants.

Chris Bell

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