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BuyingBear

Cambridge - The Last Crash

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A very interesting graph on the Cambridge Building Society website, as you can see after the crash in the late 80's it took 10 years until prices recovered above previous highs in actual terms.

This is obviously there to cover themselves should somebody drop themselves in hot water and blame them later, the information is out there, you just need to look for it.

Edited by BuyingBear

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BuyingBear,

Amazing how many sets of stats and graphs that get reported magically start at 1994/1995.

You need to look for later graphs very hard indeed.

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Guest Charlie The Tramp

Cambridge did quite well in comparison. In 1996 they recovered to 1989 prices, my area had to wait until 2001.

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A very interesting graph on the Cambridge Building Society website, as you can see after the crash in the late 80's it took 10 years until prices recovered above previous highs in actual terms.

This is obviously there to cover themselves should somebody drop themselves in hot water and blame them later, the information is out there, you just need to look for it.

This is quite significant I would think. This is the first account I have heard of lenders starting to assess potential liability.

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Cambridge is a funny place; I grew up and went to school there. It is a city devoid of much quality housing. In my youth East Road, Newmarket Road, and the streets off, were practically slums yet the drab low grade housing in these areas now command unbelievable prices.

Property prices in Cambridge also seem to accentuate national trends because I have, over the last 40 years, seen huge swings up followed by equal swings down. In the last crash houses in pleasant Hills Road could be bought for £200K or less. These agreeable houses (for now at least) can fetch close to £1 million.

Cambridge prices are barmy, frankly, and it will all end in tears as usual.

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Cambridge prices are indeed barmy. As barmy as anywhere else.

But it is true that there is a fantastic premium on terraced houses around within cycling/walking distance of the station/uni/citycentre. It's been a feature since the 60s at least.

I guess the premium will always exist relative to other houses in Cambridgeshire and other parts of the city.

btw

I noticed a marked upturn in houses for sale on Rightmove in Cambridge (city) this week. 12 Jan (31 properties), 19 Jan (24 properties), 26 Jan (29 properties), 2 Feb (54 properties). Median price fairly steady at c. £220,000

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  • 301 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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