Towns where universities have been established since 1960 have seen house prices increase by a substantial amount in a decade, new research has found. A study carried out by Lloyds TSB revealed that properties in such areas have experienced a 70 per cent rise in value since 2001, with the average home now costing 155,953 GBP - up from 91,612 GBP ten years ago.
Among the locations to record the biggest rises were Bangor, Carlisle, Sunderland, Dundee, Pontypridd - where the University of Glamorgan is based - Bradford and Plymouth. All of these places experienced hikes of more than 100 per cent in real estate values. Meanwhile, 'old' university towns also saw a boost in prices, climbing by an average of 64 per cent over the same period to reach 177,974 GBP.
However, this still puts these cities and towns below the national average for property prices. Figures published by the Department for Communities and Local Government in its latest House Price Index showed that values declined by two per cent in June, compared to the same month in 2010, to now stand at 204,981 GBP.
- Wednesday 17 August 2011