20
Aug
University students 'begin to fill buy-to-let properties'
Students who received their A-Level results yesterday (August 19th
2010) are starting to fill up buy-to-let properties around the UK
as they accept their university places.
According to research from Lloyds TSB, more first-years students
are opting for shared housing over staying in halls, which has
boosted the buy-to-let market in university towns.
It revealed that over the last five years, 60 per cent of towns
with universities in them across Britain have seen house value
growth greater than in other areas of the country.
This comes as good news to homeowners, as the price of all houses
for sale in these areas has shot up.
The mortgage provider stated that in Aberdeen, which is home to
more than 29,300 students, house values rose by 40 per cent as its
student population grew by 54 per cent.
Housing economist at Lloyds TSB Nitesh Patel said: "Growing student
numbers have had a big impact in boosting housing prices in
university towns."
The "boost in demand" could also make a significant difference to
landlords after 300,000 students in England, Wales and Northern
Ireland received their grades yesterday.