The price of property in the majority of the UK's major university towns has doubled during the past five years, figures showed today.

Halifax Estate Agents said property prices in 10 of the 13 top university towns and cities outside of London had risen by more than the national average of 103% since 1999.

The group said parents were increasingly looking at buying investment properties for their children, as accommodation accounted for a substantial part of the cost of sending a child to university.

The biggest increase in prices was seen in Bath, where the cost of the average home soared by 156% to £258,379.

Strong rises were also recorded in Sheffield, with property prices increasing by 133%, while in York they are 130% higher than they were five years ago.

In Birmingham and Durham house prices moved up in line with the national average of 103%, while in Oxford and Cambridge they slightly under-performed at 99% and 100% respectively.

The group, which looked at house prices around the top 20 universities in the UK, said the lowest increase was seen in St Andrews, where the cost of property rose by 62% during the past five years, followed by London where it was up by 63%.

Parents who bought a property in Bath five years ago have made the most on their investment, seeing the value of their property increase by an average of £157,572, followed by Oxford, where prices have risen by around £140,175, and London at £111,452.

Other towns with universities which are outside the top 20 which have seen strong property price rises include Exeter, where the price of a home has soared by 124%, and Nottingham, Cardiff, Loughborough and Derby at 123%, while Hull and Leeds have seen increases of 121%.

Jane Pridgeon, managing director at Halifax Estate Agents, said: ''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 and property prices around the university in question.

''Feedback from our estate agents in university towns and cities shows that potential student properties are in high demand, particularly among parents looking for a long-term investment while at the same time providing a home for their children.''