University cities bolster property prices

Property prices in university towns cities are leading the increase in inflation of Northern Ireland's housing market, with Belfast topping the table for fastest rising prices.

With Belfast offering two campuses, Queen's University and the University of Ulster, Halifax reports that property prices rose by 47 per cent over the year to the end of June.
Meanwhile the national average across the whole of Great Britain only was 11 per cent more value added to houses over the same period.

Over the past three years, property prices in Belfast almost doubled, Halifax revealed.

It is not only in Belfast that universities are pushing up property prices, but solicitors are unlikely to see strapped students sealing a deal on a house in a total of 20 university towns, where property values have risen by at least 20 per cent or more.

Furthermore, over three years, seven university towns have experienced a minimum of a 50 per cent rise in prices, including Scottish towns seeing much growth. A house in Aberdeen now costs 75 per cent more than it did three years ago while house prices in Dundee have risen by 64 per cent over the same time span.

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