redwing

Cambridge

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5 hours ago, crashmonitor said:

I can't understand the logic, that's way beyond a mortgage so the property must be being  purchased  mainly cash via inheritance/ equity swap on previous house. That being the case why would you put up with a former peasant's cottage when you could buy something decent up north with a few acres for half the price.  It could be a well heeled Tory borough with decent countryside, not situated on a flat God forsaken ugly marsh; and retire on the the other half of your Equity. I firmly believe the folk of Cambridge require psychological help.

I guess from the lofty heights of the Peak District it's easy to look down on the Fen Dwellers but many people enjoy what Cambridge has to offer, theatre, cinema, museums, concerts, lectures, further education, easy access to London.  All can be accessed on foot or by bike, no need for multiple cars for families.

Unemployment in Cambridge is low and is had an interesting mix of inhabitants with wide ranging backgrounds and views.  Many people do not want a few acres and a Tory borough.

i am aware of some of the terraced houses in Cambridge being bought by cash rich downsizes who want to maintain their city lifestyle and have sold the larger city properties they no longer need, so they are still close to shops and amenities but in a cheaper more manageable house.

i guess it's hard for people who have opted for a rural lifestyle to understand the enjoyment of city life but it does exist!

 

 

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34 minutes ago, ognum said:

I guess from the lofty heights of the Peak District it's easy to look down on the Fen Dwellers but many people enjoy what Cambridge has to offer, theatre, cinema, museums, concerts, lectures, further education, easy access to London.  All can be accessed on foot or by bike, no need for multiple cars for families.

Unemployment in Cambridge is low and is had an interesting mix of inhabitants with wide ranging backgrounds and views.  Many people do not want a few acres and a Tory borough.

i am aware of some of the terraced houses in Cambridge being bought by cash rich downsizes who want to maintain their city lifestyle and have sold the larger city properties they no longer need, so they are still close to shops and amenities but in a cheaper more manageable house.

i guess it's hard for people who have opted for a rural lifestyle to understand the enjoyment of city life but it does exist!

 

 

Well why not choose an urban centre elsewhere, Edinburgh, Harrogate etc. Why blow all your money on a house when you could live comfortably. I wasn't referring to the Peak District a lot of this country is nice but since you mention it the unemployment level in Derbys Dales is lower than Cambridge, check it out. So the metrics don't make any sense.

No justification for million pound terraced houses.

Edited by crashmonitor

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19 minutes ago, ognum said:

I guess from the lofty heights of the Peak District it's easy to look down on the Fen Dwellers but many people enjoy what Cambridge has to offer, theatre, cinema, museums, concerts, lectures, further education, easy access to London.  All can be accessed on foot or by bike, no need for multiple cars for families.

Unemployment in Cambridge is low and is had an interesting mix of inhabitants with wide ranging backgrounds and views.  Many people do not want a few acres and a Tory borough.

i am aware of some of the terraced houses in Cambridge being bought by cash rich downsizes who want to maintain their city lifestyle and have sold the larger city properties they no longer need, so they are still close to shops and amenities but in a cheaper more manageable house.

i guess it's hard for people who have opted for a rural lifestyle to understand the enjoyment of city life but it does exist!

 

 

This. I personally think Romsey is overrated, but a well heeled Tory borough with acres of land would be anathema to your average Mill Road resident. I mean, there's a vegetarian whole foods shop, a hipster café that sells second hand vinyl downstairs and another that also sells violins, and almost everyone will read The Guardian or Independent.

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5 minutes ago, crashmonitor said:

Well why not choose a posh urban centre elsewhere, Edinburgh, Harrogate etc. Why blow all your money on a house when you could live comfortably. I wasn't referring to the Peak District but since you mention it the unemployment level in Derbys Dales is lower than Cambridge, check it out. So the metrics don't make any sense.

Access to London isn't so easy from those places! And the point isn't just that Cambridge is posh and urban. I've lived in lots of posh urban places (Tunbridge Wells and St. Albans, for example), and they really don't compare. Cambridge is actually a fun place to live. There is something very wrong with the house prices here, and I think people are crazy to pay them, but there's no denying the appeal of the place for many people. 

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5 minutes ago, crashmonitor said:

Well why not choose a posh urban centre elsewhere, Edinburgh, Harrogate etc. Why blow all your money on a house when you could live comfortably. I wasn't referring to the Peak District but since you mention it the unemployment level in Derbys Dales is lower than Cambridge, check it out. So the metrics don't make any sense.

There's also 4 trains an hour to London within 5 minutes cycle in that area, 2 of which an hour are non stop and get to Kings Cross in 50 minutes.

Alongside the fact that it's near the station, the Romsey area is also quite fashionable (an academic friend who got a job at the university refused to look for a house in any other areas) and something of a hotspot for young professionals and therefore there's a decent amount of BTL HMOs.

 

It may not look much, but there is something of a premium for living in the Romsey area.

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2 minutes ago, MuTron1 said:

There's also 4 trains an hour to London within 5 minutes cycle in that area, 2 of which an hour are non stop and get to Kings Cross in 50 minutes.

Alongside the fact that it's near the station, the Romsey area is also quite fashionable (an academic friend who got a job at the university refused to look for a house in any other areas) and something of a hotspot for young professionals and therefore there's a decent amount of BTL HMOs.

 

It may not look much, but there is something of a premium for living in the Romsey area.

At the end of the day the people paying a million pounds for something that would have once been an ordinary dwelling comes down to unearned Equity on other property or inheritance because it represents a lifetime earnings.

Seems amazing to me you would want to then sink the lot into a terraced house in the middle of Cambridge when the world is your oyster.

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12 minutes ago, crashmonitor said:

Well why not choose an urban centre elsewhere, Edinburgh, Harrogate etc. Why blow all your money on a house when you could live comfortably. I wasn't referring to the Peak District a lot of this country is nice but since you mention it the unemployment level in Derbys Dales is lower than Cambridge, check it out. So the metrics don't make any sense.

Because this is where people's working lives have been so their friends, maybe family, things they enjoy are in Cambridge.  Most people choose to live where they have relationships, work and enjoy,net not just because the house they could live in is £100k less expensive.

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4 minutes ago, MuTron1 said:

There's also 4 trains an hour to London within 5 minutes cycle in that area, 2 of which an hour are non stop and get to Kings Cross in 50 minutes.

Alongside the fact that it's near the station, the Romsey area is also quite fashionable (an academic friend who got a job at the university refused to look for a house in any other areas) and something of a hotspot for young professionals and therefore there's a decent amount of BTL HMOs.

 

It may not look much, but there is something of a premium for living in the Romsey area.

Some of those HMOs are shocking. I've seen HMOs for sale in Romsey which are normal terraced houses with no loft conversion but with six bedrooms. Two downstairs, four upstairs, and the sum total of one shower cubicle and two toilets squeezed in downstairs by the kitchen. 

Actually, just found the one I saw for sale:

http://www.rightmove.co.uk/property-for-sale/property-55386286.html

Out of interest, does anyone know if that's actually legal?

 

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1 minute ago, crashmonitor said:

At the end of the day the people paying a million pounds for something that would have once been an ordinary dwelling comes down to unearned Equity on other property or inheritance because it represents a lifetime earnings.

Seems amazing to me you would want to then sink the lot into a terraced house in the middle of Cambridge when the world is your oyster.

I have lived in the Carabbean, recently sold a house there due to the increase in violent crime, a friends son was shot in the face this Christmas Day in a bungled robbery, I'm glad I've sold.

i have lived in the USA, enjoyed it but not close to my family and I live in Cambridge because that is where the things I enjoy are.  I can walk or bike everywhere, have a decent social life and get away easily if I want to.

it appears to me that you don't understand choice, what one person may choose won't be what another does.  

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6 minutes ago, ognum said:

Because this is where people's working lives have been so their friends, maybe family, things they enjoy are in Cambridge.  Most people choose to live where they have relationships, work and enjoy,net not just because the house they could live in is £100k less expensive.

Well I might be persuaded if we are talking 800k less expensive. Actually most people would. But like Tulips the assumption is it's an investment I guess.

Edited by crashmonitor

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3 minutes ago, ognum said:

I have lived in the Carabbean, recently sold a house there due to the increase in violent crime, a friends son was shot in the face this Christmas Day in a bungled robbery, I'm glad I've sold.

i have lived in the USA, enjoyed it but not close to my family and I live in Cambridge because that is where the things I enjoy are.  I can walk or bike everywhere, have a decent social life and get away easily if I want to.

it appears to me that you don't understand choice, what one person may choose won't be what another does.  

Most of the UK is safe, an urban centre like Cambridge will be middling re. crime at best.

Edited by crashmonitor

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5 minutes ago, neuvilla said:

Some of those HMOs are shocking. I've seen HMOs for sale in Romsey which are normal terraced houses with no loft conversion but with six bedrooms. Two downstairs, four upstairs, and the sum total of one shower cubicle and two toilets squeezed in downstairs by the kitchen. 

Actually, just found the one I saw for sale:

http://www.rightmove.co.uk/property-for-sale/property-55386286.html

Out of interest, does anyone know if that's actually legal?

 

Everyone I know who's lived here through their 20s has spent some time in a crap HMO somewhere off Mill Road. It seems it's something of a rite of passage, much like it is in places like London

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1 minute ago, crashmonitor said:

Most of the UK is safe, an urban centre like Cambridge will be middling re. crime at best.

I agree, most of the U.K. Is safe but some of the world which you claim is peoples oyster is becoming less so as exampled by my earlier post.

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3 minutes ago, crashmonitor said:

Well I might be persuaded if we are talking 800k less expensive. Actually most people would. But like Tulips the assumption is it's an investment I guess.

Exactly. I've got friends rushing in in Cambridge and London with hardly a second thought because they all assume prices won't go down substantially. They may well be right. 

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4 minutes ago, crashmonitor said:

Well I might be persuaded if we are talking 800k less expensive. Actually most people would. But like Tulips the assumption is it's an investment I guess.

If someone is looking at their home then it is seldom regarded as an investment IMO, it's is just a comfortable place to live.   

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Just now, ognum said:

I agree, most of the U.K. Is safe but some of the world which you claim is peoples oyster is becoming less so as exampled by my earlier post.

Well I agree with you there we knock the UK on here too much. Also I have been playing Devil's advocate architectually and culturally Cambridge is world class. Still think prices are too high.

May be I should have said the UK is your oyster.

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Just now, neuvilla said:

Exactly. I've got friends rushing in in Cambridge and London with hardly a second thought because they all assume prices won't go down substantially. They may well be right. 

No one can tell but if it's your home and you like living there it helps a bit if the value falls.  

Central Cambridge is not everyone's bag but if you work in the centre it saves an long commute in rush hour from the surrounding villages, which are also pricy.

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3 minutes ago, crashmonitor said:

Well I might be persuaded if we are talking 800k less expensive. Actually most people would. But like Tulips the assumption is it's an investment I guess.

Not necessarily. Most of my peer group has bought in and around Cambridge over the past few years, myself included, as first time buyers, and they've all made the same space/location/price compromises everyone else does. Some have compromised some space in order to live around the Mill Road area, most have moved out to cheaper areas of the city like Arbury, where prices are slightly more down to earth.

 

The assumption for us all is that it's been a home to live in, and everyone I know views the insane recent HPI with mixed feelings; Being able to drop from 90% LTV to 65% in 2 years means that most of us will be able to overpay and finish off our mortgages a good 7 years quicker than planned, which is somewhat lucky, but everyone's aware that it's not a good thing that it's increasingly difficult to buy within the city. I couldn't afford the buy my own house anymore, and I only got it 2 years ago. We all understand that this is a problem, and most people I know have friends who have had to move out of the city into the cheaper surrounding villages because they couldn't afford Cambridge.

 

 

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11 minutes ago, MuTron1 said:

Everyone I know who's lived here through their 20s has spent some time in a crap HMO somewhere off Mill Road. It seems it's something of a rite of passage, much like it is in places like London

It is interesting that many people who live in the crap HMO continue on to buy or would like to buy a central Cambridge property. The actual bricks and mortar they live in may be bad but the experience of living in Cambridge is not.

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The only people I know who gush about how amazing Cambridge is are ex-students or people who work for the University.

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51 minutes ago, Bug16 said:

The only people I know who gush about how amazing Cambridge is are ex-students or people who work for the University.

Genuine question...why do you think that is? 

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1 hour ago, Bug16 said:

The only people I know who gush about how amazing Cambridge is are ex-students or people who work for the University

12 minutes ago, neuvilla said:

Genuine question...why do you think that is? 

 

12 minutes ago, neuvilla said:

Genuine question...why do you think that is? 

 

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This is my own opinion I have no data to back it up.

firstly I wasn't aware people 'gushed' about Cambridge but many people do enjoy living here as they do in London and other places that some would not consider a place to have a home.

ex students everywhere often want t o return to live in their university city or stay their after graduation, this probably happens more in Cambridge as its a place with many graduate jobs.  Living somewhere as a student, moving away from home being independent has a special feeling that some want to recreate, if many of your student chums have stayed you have a friendship base.

University employees particularly academics within the college system have a priverlidged lifestyle if you want that type of life.  They are surrounded by other academics, clever and often eccentric people who provide a stimulus to everyday life.   There are other bonuses to being a college fellow, free food, cheap home loans, access to the college cellar, travel perks and a good pension.

For the non academic, non ex student population their is a multicultural city that has great theatre, events, concerts, beautiful architecture in the centre and a largely safe environment.   It is easy to get about, by bike or foot, most cities have a car problem like Cambridge but without the bike solution.   It is easy to access London and airports.   It has good state schools and for those who need it private schools.   

These are just my opinions, I live in central Cambridge I am not an ex student or a academic or a college employee.  I am sure there are other great cities to live in, not everyone wants to live in rolling hills, but where is better?

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25 minutes ago, ognum said:

These are just my opinions, I live in central Cambridge I am not an ex student or a academic or a college employee.  I am sure there are other great cities to live in, not everyone wants to live in rolling hills, but where is better?

2

A quick DuckDuckGo tells me the average salary for a software dev in Cambridge is £35k. Average house price £500k. I'd hazard a guess most people commute in and don't actually enjoy all the touted benefits it has to offer. Based on that Cambridge can stuff it's so called culture up its ****.

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35 minutes ago, gibbon said:

A quick DuckDuckGo tells me the average salary for a software dev in Cambridge is £35k. Average house price £500k. I'd hazard a guess most people commute in and don't actually enjoy all the touted benefits it has to offer. Based on that Cambridge can stuff it's so called culture up its ****.

Average house price is around £410k, not £500k.

In any case, I know a few software developers. They tend to be relatively young, so not everyone's bothered about owning a place. The ones that are are buying at the bottom end of the market, where you can get a 2 bed flat within the city for around £250k, or a 2-3 bed house for £300k. On a dual £35k salary, this is doable.

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