With house prices rising across the UK, it comes as no surprise that London remains the most expensive city to live in with an average house pricing of a whopping £530,000. But there is one surprising UK city in second place and that's the historic university town of Cambridge.

With an average house price of £468,300, the city, located in the southeast of England, is home to some of the priciest properties in Britain. Delowar Hossain, a local Conservative councillor, told the Daily Express: "We've reached the point where, much like in London, people feel they are paying a premium just to live here.

"As lovely as Cambridge is, house prices and rents increasingly feel out of line with what people can reasonably expect to get for their money."

He added: "Cambridge is now the most unequal city in the country."

"This is not just a housing crisis - it's a crisis of fairness. The city's success must not come at the expense of the people who live and work here."

"As a local councillor, I represent the most deprived ward in the city - and I see first-hand the pressure this places on families."

The councillor, who represents the King's Hedges ward, explained that hardworking people like carers, cleaners and shopworkers are being "pushed out", adding: "They simply can't afford to live here any longer."

Delowar commented on residents' concerns about the University of Cambridge's "significant ownership of residential property" and the role this plays in the current housing crisis. He continued: "When one institution holds such a large amount of housing stock, it can drive up demand and reduce availability for local families."

Jenny Skilton, a Cambridge resident and vintage shop owner, said: "Cambridge prices are crazy and always have been - they seem to be in their own sort of bubble. It's crazy when you look at what you can buy for the same price in other parts of the country or even other parts of the world.

"The university here owns a lot of property, not just in Cambridge but throughout the whole of the country. It's quite powerful [as] they own residential as well as commercial property."

In 2018, The Guardian reported that the two major Cambridge landowners are St John's and Trinity colleges, which have 10,500 hectares worth £1.1 billion with Trinity valuing its property investments at £850m at the time.

But Isabel, owner of Isabel Hastie Independent Estate Agent in Cambridge, praised the university's impact on the city. She said: "Cambridge is a very successful city which has attracted a large number of employers in biomedical and technology [and has been] built from Cambridge University's knowledge and skills.

"The increase in well-paid jobs that this growth has created, coupled with a limited supply of homes, has meant that property prices have grown accordingly."

She added that the "residential property the university owns is largely confined to the historic centre" and they "provide a shared equity scheme for their employees".

Nevertheless, Isabel appreciates that the University of Cambridge's power over property "also depletes the number of properties available for local residents to purchase, so it does have an impact particularly in the more central areas of Cambridge."

Both Jenny and Isabel speculated over other reasons for the city's expensive housing prices. Jenny commented on Cambridge's proximity to London, its attractive green spaces and homey feeling of Cambridge in comparison to London. She said: "I've met a few young couples who are becoming parents who have moved from London.

"When they become parents they move away from London - I suppose they don't want to bring up their children in London. The young parents and students that come here seem to have money so it's a good place to have a shop.

"For a long time, we've been the only vintage shop, so it's been a good place for me to make a living."

Similarly, Isabel explained that the city's "unique blend of history; great cultural amenities; shopping; outdoor green spaces and fantastic schooling (both state as well as private) - whilst being within an hour of London by train" does attract relocators from London.

However, she clarified that it's not just Londoners moving in: "We have a mix of people relocating to Cambridge from many parts of the UK, as well as overseas."

Councillor Delowar insisted that, now, an honest question must be asked: "Who is Cambridge really for?"

He added: "We urgently need more genuinely affordable housing, stronger protections for renters, and a serious conversation about institutional property ownership. Because if growth comes at the cost of community, then we're not building a better Cambridge - we're losing it."

Local councillor Tim Bick echoed some of Delowar's demands for change. He said: "Demand for housing needs to be better met, with private, affordable and social housing. Politicians who pretend that Cambridge doesn't need more housing would have prices go even higher so that the next generation won't get the chances past ones already had."

The Liberal Democrat representative calls on the government for change, adding: "There are real obstacles that only the government can remove, such as the region's shortage of water and the funding of other essential infrastructure for communities that people want to live in. It shouldn't be only about making life easier for developers - it should also be holding them to account and ensuring the basics are put in place faster. It's not totally clear that the government has got that message."

In response to the statements made regarding the University of Cambridge's role in the city's housing crisis a spokesperson from the university said: "The University and Colleges take their role as partners and neighbours in the wider Cambridge community seriously. Innovation and growth need to benefit everyone.

The University's pioneering Eddington housing development is bringing more homes to the open market and creating new accommodation for University key workers, relieving pressure on the wider housing supply in the city. Around 700 new homes have already been provided for more than 2,000 University tenants who would otherwise have needed to rent privately elsewhere in Cambridge, and future phases of the development intend to provide more."

A Ministry of Housing, Communities and Local Government spokesperson added: "Cambridge is one of the UK's most important economic assets and we are committed to help overcome local issues in Greater Cambridge to help it realise its full potential for the benefit of local residents, communities, and businesses. The government and the Cambridge Growth Company are working with local partners to accelerate delivery of key developments and infrastructure, whilst developing a sustainable 'infrastructure-first' growth strategy. Our work on water supply in Greater Cambridge has helped to unlock planning applications for 9,000 homes, over 500,000sqm of commercial space, and a new cancer hospital."