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RickyD

Ely House Seller's Struggling To Sell After Brexit

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Did anyone listen to BBC Radio Cambridge this morning? A woman was describing how she was having multiple viewings before the election, but after Brexi she's only had 3 viewings and is struggling to sell. She was selling a 3 bed semi-detached (I think), at £275,000.

An estate agent also admitted that the market has been slow for the past few months and prices would be coming down, although he framed it as a temporary blip and that they would continue to rise in the long term.

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> EVERY HOUSE IN THE UK WILL SELL

Indeed. I'm particularly interested to see what effect the uncertainty of the Brexit has on house prices in Cambridgeshire. Interestingly I have 2 landlords (they both own half of the property), and one of them says house prices won't drop because it's Cambridge and the other says a crash is due.

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I didn't mean Brexit was the cause.. The cause of insane property prices is a myriad of things.. prolongued low interest rates, the BTL brigade, low tax on foreign buyers, not building enough houses, etcetera.. What I meant was that perhaps the current uncertainty due to the Brexit will be the catalyst to start bringing prices down..

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£275000, to live in ELY! Tell her to put the price down. She will soon be rid of it!

Just change the listing to 'Cambridge North' rather than Ely - 'a mere 12mins train ride from the city center' and double the price - that trick worked round London, and Cambridge is even more of a world class city apparently...

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Along with London and Winchester I would put Cambridge in as one of the "top ten" areas to fall the most. The locals call it "Cranebridge" because of the amount of development that has been going on there. I have also seen in the press it is a hot spot for (Chinese) "buy to leave" investing.

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