Property boom near universities

The massive rise of property prices in popular university towns is revealed today.

Some areas have enjoyed rises of 150 per cent in five years, with more and more parents emulating Tony and Cherie Blair in buying property for their student offspring.

House prices in Bristol have risen by more than 110 per cent in the last five years, and in nearby Bath, homeowners have enjoyed a 156 per cent increase in property value.

A survey released today by Halifax Estate Agents reveals that many parents who bought property in university locations outside London have seen their houses and flats double in value.

Halifax compared property prices close to Britain's topranking universities over the last five years.

In Cambridge, average prices doubled from £118,405 to £237,225, while in Oxford they rose by 99 per cent, from £141,495 to £281,670.

Jane Pridgeon, managing director of Halifax Estate Agents, said: "Feedback shows that student properties are in high demand, particularly among parents looking for a long-term investment while providing a home for their children."