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University towns see boost in property market thanks to students
25 August 2010
As more and more students head for university this autumn, house prices in university towns will be receiving a welcome boost.
The latest reports from Lloyds TSB show that around 60% of university towns across the UK have seen house price growth outperform their respective regions over the past five years.
Places like Aberdeen, Winchester and Ulster are all seeing around 30% to 40% rise in house prices, correlating with their massive increase in student population. This stems from the record amount of university interest this year, which has caused many first years to opt for privately owned housing due to a failure to acquire suitable halls of residence.
Nitesh Patel, a Housing Economist at Lloyds TSB, confirms: “Growing student numbers have had a big impact in boosting house prices in some university towns where the increase in demand has led to the local market outperforming the rest of the region”.
Source: Property Wire
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