Halifax: House prices boom in university towns

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Halifax: House prices boom in university towns

Fri 17th Aug 2007

New research from Halifax Estate Agents has revealed a boom in house prices in university towns.

On average, an increase in house prices of 14 per cent was experienced in university towns in the UK in the year to June.

Furthermore, 20 of these towns recorded an increase of 20 per cent or more over the past year- doubling the UK rate of 11 per cent.

The best performing area was Belfast, which has seen a growth in values of 97 per cent over the past three years, followed by Aberdeen (75 per cent), Dundee (64 per cent) and Tower Hamlets (61 per cent).

Colin Kemp, managing director of Halifax Estate Agents, said: "University towns are popular choices for home movers because they usually have a wide range of local facilities, while investors have been attracted by the steady increase in university populations."

In its House Price Index for the second quarter of 2007, Halifax identified eight Northern Irish towns as the fastest growing in terms of UK house prices.

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