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| University towns home prices soar | University towns home prices soar |
| (4 days later) | |
| House prices in university towns have soared in the past five years, figures from a mortgage lender show. | House prices in university towns have soared in the past five years, figures from a mortgage lender show. |
| All 10 of the UK's most expensive university towns are in southern England, with Guildford having the highest prices, the Halifax said. | |
| The average price of a home there is £363,503, with Winchester next at £343,332 and Bath at £326,403. | The average price of a home there is £363,503, with Winchester next at £343,332 and Bath at £326,403. |
| The cost of a home in Belfast soared by 105% from June 2003 to June 2008, by 101% in Dundee and 100% in Bangor. | The cost of a home in Belfast soared by 105% from June 2003 to June 2008, by 101% in Dundee and 100% in Bangor. |
| A further 20 university towns saw average price rises of at least 50% during the five years, with Aberdeen and Bradford leading the way with increases of 95% and 94% respectively. | A further 20 university towns saw average price rises of at least 50% during the five years, with Aberdeen and Bradford leading the way with increases of 95% and 94% respectively. |
| Lending slowing | Lending slowing |
| At the other end of the scale, Hull has the most affordable accommodation of all university towns, with average house prices at £124,108. | At the other end of the scale, Hull has the most affordable accommodation of all university towns, with average house prices at £124,108. |
| Next are Stoke-on-Trent at £130,336 and Bradford at £131,464. | |
| The survey comes as the credit crunch sees house prices falling across the UK at their fastest rate in 18 years and mortgage lending slowing dramatically. | The survey comes as the credit crunch sees house prices falling across the UK at their fastest rate in 18 years and mortgage lending slowing dramatically. |
| Halifax, which looked at house prices in 64 university towns excluding London, said that in nine, properties sold at a premium of at least £20,000. | Halifax, which looked at house prices in 64 university towns excluding London, said that in nine, properties sold at a premium of at least £20,000. |
| Winchester commanded the biggest premium of £114,489 or 50%. | Winchester commanded the biggest premium of £114,489 or 50%. |
| "While it can be a good investment, the decision to buy a property for a son or daughter at university ultimately depends on the parents' personal circumstances and property prices around the university in question," said Halifax economist Nitesh Patel. | "While it can be a good investment, the decision to buy a property for a son or daughter at university ultimately depends on the parents' personal circumstances and property prices around the university in question," said Halifax economist Nitesh Patel. |