It has recently been announced that a new university, set to rival the high standards of Oxford and Cambridge, is set to open in London’s Bloomsbury, in September 2012. The New College of the Humanities will charge £18,000 per year in fees and West End specialist estate agency, LDG, anticipate that the influx of students attending the school will have an effect on the local property market.
Ben Everest, a partner at LDG, comments: “Bloomsbury is home to University College London (UCL) and so it already has a strong student population, many of whom have affluent parents who are funding their accommodation whilst they study. As this new university promises to offer ‘a new model of higher education for the humanities in the UK’, I would expect it to attract a similar breed of moneyed students, many from overseas.
“Both the sales and lettings markets in the West End are currently experiencing a shortage in supply of good quality properties, so if there is a further influx of students into the area, I expect the increased demand to result in prices increasing and it could even lead to bidding wars over the most sought after properties, such as those in Paramount Court or Bloomsbury Terrace, which are popular with overseas students.”
For available properties in Bloomsbury for sale visit http://www.ldg.co.uk/residential-sales/search-results
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