Coventry is the top UK university city for house price growth
According to research undertaken by on-line estate agents Housesimple, average property prices in the UK’s top 50 university cities and towns have risen by £28,725 since 2015, and in more than half of those locations the increase in value would have funded a three-year degree course.
The research was predicated on house price changes as measured since 2015, when students who graduated this summer started their regular degree courses, in the top 50 ranked UK universities. The startling conclusion was that any property bought either for family living, or as a buy-to-let investment in 56% of the relevant locations would have generated a growth in value which would have covered the entire £27,250 cost of tuition for a three year degree.
Coventry, ranked 13th in the UK university rankings, came out on top as the university city which had seen the greatest increase in property prices, of 61% between June 2015 and June 2018, according to figures provided by the Land Registry. An average property in Coventry, which cost £114,625 in 2015, would now fetch £194,690 in 2018. That is an increase of over £70,000, which would have easily covered full tuition fees for two students at Coventry University, with room to spare.
This phenomena has had a marked impact on many university cities and towns, with most of them showing a sufficient increase in the price of housing to cover annual tuition fees, on the basis of a purchase made in 2015. Oxford and Cambridge, the top two ranked UK universities, also saw significant house price rises, but these were offset somewhat by the cost of property in both cities at £402,020 and £440,126 respectively.
