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Cambridge New Developments Out Of Touch

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As a relatively new member I thought I'd see if any one else in Cambs had any thoughts.....

I think there is a distinct lack of properties that Cambridge people love, ie Victorian terraces at reasonable prices. Almost all of the new developments are flats and are very expensive, I have been offered huge summs (50k) off the price of some of the nicer new development 2 bed flats in the last months and many of the developments are completing much later than expected due to this.

What seems odd in Cambridge is the huge compression of prices, 220 gets you a lucky 2 bed buyer in Mill Road, but for 275 you can buy off Hills Road 3 beds or brand new 4 bed on Malta Road. I did see an oddity up on Rustat Road as well, a 1bed flat sold for 184 in Febuary, one of those first 3 blocks that were built, yet the 1bed new builds in lesser spec'd new blocks are now selling for 199, with a 'Cash Back' of 10 grand. Basically that to me says that the developers know they are too expensive but are just trying to convice people that the market is so strong, if a flat is worth 189, why not sell it for that why 199 with 10 grand off?

I also notice that the Belvedere are still mantaining their 50mins from London slogan. Shame First Capital Direct didnt let them know about the changes to the services. Still " Stand for at least 1 hour on a hot crowded train", doesnt sound as nice now does it.

The thing Ive noticed about many of the properties I know people to be selling for around 250k is that many of the viewers are down sizing, and that must suggest that confidence is not high that people will retain this level of equity in the future.

Anyone have any thoughts?

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Hi and welcome.

I've just had a quick look round the development in St Barnabas Road (v. expensive town houses). There are only 3 left for sale. But when I looked at Nethouseprices.com I see that the last sale there was 22 December.

When I last commented on this development in March2006, there were about 9 unsold. Nethouseprices claims to be up to date to May 2006. So there has been an apparent flurry of recent activity.

I can't wait (or can I?) to find out what these houses eventually sold for.

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