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Timak

Cambridge

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Not posted on here for ages.....but thought I'd share some anecdotes.

Prices in Cambridge have been steady over the last 2 years.

I live in an estate of around 100 identical houses. The sold prices for these properties is now around £350k on average and in the range £330-£375k depending on extensions/decoration.

Up until 2 months ago they were flying off the shelves with <1 month being the typical time on the market.

It is an unusual market here as we have a lot of foreign buyers and demand from them has collapsed in the last 8 weeks. Spanish friends are selling and are asking a fairly sensible price (compared to previous sales) yet have had zero viewings and zero interest in the 3 weeks they've been on the market. Literally zero.

This morning I heard that a French couple also Brexiting had the same issue. They had the house on the market 2 years ago and had 10 viewings the day it came onto the market. This time no viewings at all.

Might be a temporary blip given the current situation with EU nationals. But could be the start of the downward trend.

 

 

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Cambridge is one of the UK's hot spots so this is welcome news.  I am hoping to see a general collapse in confidence soon spurred on by business investment decisions and individuals, like the ones you have mentioned, who decide the UK has nothing to offer them anymore.

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1 hour ago, Timak said:

Not posted on here for ages.....but thought I'd share some anecdotes.

Prices in Cambridge have been steady over the last 2 years.

I live in an estate of around 100 identical houses. The sold prices for these properties is now around £350k on average and in the range £330-£375k depending on extensions/decoration.

Up until 2 months ago they were flying off the shelves with <1 month being the typical time on the market.

It is an unusual market here as we have a lot of foreign buyers and demand from them has collapsed in the last 8 weeks. Spanish friends are selling and are asking a fairly sensible price (compared to previous sales) yet have had zero viewings and zero interest in the 3 weeks they've been on the market. Literally zero.

This morning I heard that a French couple also Brexiting had the same issue. They had the house on the market 2 years ago and had 10 viewings the day it came onto the market. This time no viewings at all.

Might be a temporary blip given the current situation with EU nationals. But could be the start of the downward trend.

 

 

Hi Timack,

How old is your estate and any of these sold using Help to Buy or any similar schemes?

 

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6 hours ago, Timak said:

Not posted on here for ages.....but thought I'd share some anecdotes.

Prices in Cambridge have been steady over the last 2 years.

I live in an estate of around 100 identical houses. The sold prices for these properties is now around £350k on average and in the range £330-£375k depending on extensions/decoration.

Up until 2 months ago they were flying off the shelves with <1 month being the typical time on the market.

It is an unusual market here as we have a lot of foreign buyers and demand from them has collapsed in the last 8 weeks. Spanish friends are selling and are asking a fairly sensible price (compared to previous sales) yet have had zero viewings and zero interest in the 3 weeks they've been on the market. Literally zero.

This morning I heard that a French couple also Brexiting had the same issue. They had the house on the market 2 years ago and had 10 viewings the day it came onto the market. This time no viewings at all.

Might be a temporary blip given the current situation with EU nationals. But could be the start of the downward trend.

 

 

The Europeans are starting to leave, their is a dark malevolent under-current that is scaring people, the UK has changed.

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20 hours ago, Flopsy said:

Hi Timack,

How old is your estate and any of these sold using Help to Buy or any similar schemes?

 

It is a 70s council estate so no schemes operating. 

Mix of council, ex-council RTB older people, rental (used to be rented to families, now by the room @£600 a month each) and people working at ARM/Addenbrookes/Biotech parks. But you need £100k income to buy one now which is just crazy.

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On a related note I've noticed that the number of houses on the market in Cambridge has increased by about 25% since May/June (when there were about 190) to now whether there are closer to 235.

The number with a reduced price has also increased slightly more quickly from about 60 to about 80 - up by about 33%.

[The figures I use are from Zoopla as and when I bother to look at it - it gives a quick and simple way to see a current count of houses and reductions.
Zoopla -> search "Cambridge, Cambridgeshire"; "Houses Only"; "Filters" - this shows totals.
The x axis in the graph is the day of the year highlights are highest and lowest values I've seen]
 

image.png.67a3478d58b6d278e4a96bc8f819407f.png

HouseReductions.png

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Good stuff @StuartMc

My own RM search area ,which is only my suburb, is now up to 74 from lows of around 30.

Prices still eye watering though. 

£600k to live off Coldhams Lane sandwiched between a Toyota showroom and an airport.

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On 23/10/2018 at 17:51, StuartMc said:

On a related note I've noticed that the number of houses on the market in Cambridge has increased by about 25% since May/June (when there were about 190) to now whether there are closer to 235.

The number with a reduced price has also increased slightly more quickly from about 60 to about 80 - up by about 33%.

[The figures I use are from Zoopla as and when I bother to look at it - it gives a quick and simple way to see a current count of houses and reductions.
Zoopla -> search "Cambridge, Cambridgeshire"; "Houses Only"; "Filters" - this shows totals.
The x axis in the graph is the day of the year highlights are highest and lowest values I've seen]
 

image.png.67a3478d58b6d278e4a96bc8f819407f.png

HouseReductions.png

Now 254 houses listed on the same market!

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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