Will new University Boost Folkestone Property Prices?

New research from Halifax Estate Agents highlights that 20 university towns across the UK recorded an increase in house prices of 20% or more over the past year, close to double the nationwide increase of 11%. With University Centre Folkestone due to welcome its first degree students in September, many believe local property prices are likely to be boosted further.

The fastest rising university town was Belfast, home of Queen's University, with a 47% rise in its average house price over the year to June 2007. Folkestone Harvey Central Town Councillor Gary Fuller welcomes the opening of the University Centre as a major boost to Folkestone, but voiced concern on ever rising house prices. He said:

"Clearly, the University and other developments like the fast train link to London are going to have a really positive impact on our town. It's going to make Folkestone an even more popular place to be, and local home owners may well see big increases in property values over the next few months and years.

"Locally and nationally however we are eventually going to have to address the real problem caused by the huge increase in property prices especially in the last 10 years. It's getting harder and harder for many people to get onto the Property ladder at all: a mortgage on even the smallest flats and houses in Folkestone are out of reach to many families."