North London is one of the worst areas to invest in a student home
- Credit: PA WIRE
A new university property index shows that London is one of the worst locations in the country for those looking to invest in student accommodation
If you want to invest in a property while at university, stay away from London. Research from online estate agent eMoov has found that the capital is one of the worst areas in the UK to invest in a student home.
eMoov’s University Property Index awards each university an index score calculated on how they perform against the average UCAS entry requirement in relation to the local average property price.
Out of 117 universities in the study, 15 of the 17 that didn’t make it into the top 100 were based in London.
North London universities fared particularly badly, with University College London, the School of Oriental and African Studies and Westminster University all absent from the top 100 list.
However, the worst performing university in eMoov’s University Property Index was the Imperial College London, based in Kensington - despite having a UCAS entry level requirement of 568 points.
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Only four London universities did scrape it into the top 100: Queen Mary University (94th), the London School of Economics (96th), East London University (96th) and Kings College London (100th).
Although some parents would struggle to help their children get onto the property ladder while they attend university, another recent study found that many would be willing to lend a hand.
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70 per cent would purchase a good investment property in order to help their child onto the property ladder, and 25 per cent would want that property to be in a “reputable” university town.
Founder and CEO of eMoov.co.uk, Russell Quirk, said: “Sending your kids off to university can be a joyful occasion for many parents and is often the first time they fly the nest to fend for themselves. What with the recent increase in university fees and the cost of living, it can also be an extremely expensive time for parent and student alike, as the debt begins to pile up.
This study shows which universities offer the best level of degree, but also an affordable property price, should you want to invest in a house for your child, or even as a uni-let for yourself.
Students are certainly an easy target where the high street letting agent is concerned and it is common practice for agents to strip them of their hefty deposits, for even the most minor of reasons. Not only does buying a university property avoid this but it also provides a future home should they stay in the chosen city for work, or a great money making opportunity renting to future students.”