House price growth strong in Scottish university towns

Three of Scotland's university towns have made it into the top 10 for house price growth over the past five years, according to a new survey from the Halifax.

Dundee, Aberdeen and Paisley showed some of the strongest growth of all towns and cities with universities in the UK.

Since 2003, Dundee has seen prices double. In Aberdeen property prices have gone up by 95% and, in Paisley by 86%.

However, Edinburgh remains the only Scottish entry in the top 20 UK university locations with the highest property prices in a list dominated by the south of England. The capital has the highest average house price of all Scottish university towns, at £218,500.

Paisley, while recording high growth, is still the least- expensive university town in Scotland and the fourth- cheapest in the UK with an average house price of £137,000. Hull has the lowest average price at £124,000.

In Dundee prices rose from £74,800 to £150,000, in Aberdeen from £101,000 to £198,000 and in Paisley from £73,700 to £136,800.

Guildford in Surrey, where the average house price is £363,500, is the most expensive university town in the UK, followed by Winchester and Bath. The top 10 are all in the south-east of England.

Paisley and the north of England are among the least expensive. Hull, Bradford, Middlesbrough, Sunderland and Durham, Salford and Bolton are all in the 10 cheapest for house prices.

Nitesh Patel, an economist with the Halifax, said: "Over one-third of the university towns experienced average house price growth of over 50% in the last five years.

"The decision to buy a property for a son or daughter at university ultimately depends on the parents' personal circumstances."