York University expansion could squeeze first time home buyers

29-May-2007

The University of York has had its plans for expansion approved in a move that could limit the purchasing options of first time home buyers in the region who are not immediately equipped to get onto the housing ladder.

City officials now say that the development will bring an extra £185 million a year to the region and will also result in a considerable increase in house prices in the long term.

The university has secured planning permission for a second campus, spread over 117 hectares, that will bring thousands more potential renters to the region as York's student intake expands.

"The buy-to-let market will continue to flourish. At the moment, it's student lets which are the biggest buy to let sector in York," commented Your Move Anscombs owner Scott Anscomb, speaking to the York Press.

"This is great news for the university and great news for York as a city," added ex-director general of the BBC and current York university chancellor Greg Dyke.

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