More than a third of university towns have experienced at least a 50 per cent rise in property prices since 2003, according to new research.

The new study by Halifax also shows nine university towns in the UK have property prices £20,000 higher than the county average.

According to Halifax, the three biggest house-price rises during the past five years occurred in the university towns of Bangor, which saw property values grow by 100 per cent, Dundee, with 101 per cent growth and Belfast, with 105 per cent.

Nitesh Patel, economist at Halifax, said: "Over a third of the university towns in this review experienced average house price growth of over 50 per cent in the last five years.

"While it can be a good investment, the decision to buy a property for a son or daughter at university ultimately depends on the parents'' personal circumstances."

According to the Press Association, London is the most expensive place in the country for student lettings – with average rent costing £103 a month.

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