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Cambridge Rentals In Doldrums


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Thank you Zaranna for this remarkably comprehensive response. I'm a bit disappointed that there aren't any leafy neighbourhoods in Cambridge... what about the villages just outside? Anything picturesque and easily commutable? Oxfordshire equivalents would be Woodstock and Thame.

Come here, look around, then decide what you want and where. It sounds like you're doing things rather backwards. Renting from your current position would be dim but recoverable. Buying could land you with something you'll regret for a while... Your (stated) requirements aren't enough to be more helpful.

P.

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Most of Cambridge is pretty leafy! More parks than you can poke a stick at, so you are never far from large open spaces. My preferred area was near the station on the streets off Mill Road, due to proximity to town and the station, and nice housing stick. Tenison Road, Mawson Road, Devonshire Road and surrounding streets all have nice terrace houses of varying sizes but you will need at least 300k for a 2-3 bed. If you don't mind being a bit further out, then granchester is nice. Cambridge is much smaller than Oxford (about 1/5 the size) so it is only a short distance from city centre to open countryside in most directions.

Cambridge as a city is a bit greener in general than Oxford (certainly in the centre) but there really aren't the type of subsurban-style "leafy" neighbourhoods (wide roads, grass verges, large houses, mature trees) that you get in North Oxford, aside from a few roads in the South and West City around Addenbrooke's, Chaucer Road, Storey's Way etc. You'll pay a bit more than 300k in Tenison Road (!), though you could prob. manage a 3-bed for 300k+ in Mawson Road etc. However, those neighbourhoods, esp. by the station, aren't "leafy" by any means! (They only stopped finding discarded needles in Gwydir Street etc. a couple of years ago!!)

Grantchester is definitely nice, but how near do you want to live to Jeffrey Archer? :blink::P

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  • 3 weeks later...

Here are this week's HMO bail outs from Rightmove:

Hertford St with every bedroom with en suite shower.

Devonshire Road

Emery St

Hemingford Road

Another on Hemingford Road. Not an HMO - but shared or BTL "The property is offered with the earliest completion being 1 July 2007"

The stampede has started. But I can't imagine which professional landlords would be looking to increase their portfolios just at the moment. It will be interesting to see if this mini-flood of largish properties find buyers. Being HMOs they'll either need some work to bring them up to licensing requirements or a substantial input of funds to turn them back into attractive family homes.

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Offers around £320,000 are invited for the freehold^W^W^Wfrom the demented.

Especially when you add in the extra £120K to buy the garden back...

If this sells quickly, I'll be depressed.

P.

well happy happy - it HASN'T sold for 320k, in fact it appears, 2 months later, to not be selling for 300k now, so no need to get depressed now....

http://www.tgresidential.com/Buy/Details.aspx?id=S11721

Edited by Si1
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well happy happy - it HASN'T sold for 320k, in fact it appears, 2 months later, to not be selling for 300k now, so no need to get depressed now....

http://www.tgresidential.com/Buy/Details.aspx?id=S11721

Indeed, and I note that my neighbour's house, which has been on for an insane amount for 2 months, is now with TG. Very similar price, though...

It's all madness.

P.

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  • 2 weeks later...

More HMO (houses in multiple occupation) bail out news.

This one is now £440,000. 11 Bedrooms on Elizabeth Way.

And the best bit is that it was originally on at £475,000. That's a 7% drop in asking price.

How do I know it's dropped? Because it says so on this wonderfull new property drop web site www.propertysnake.co.uk. Link

The site is dreadfully slow - but have patience. You will be rewarded.

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Well, I know Cambridge well, I used to live in near by Haverhill not so long ago and even there the house prices were creeping up and up especially the two beds which made a leap within months from 120k to now above 150k. I can see BLT'ers soon suffering, especially the niave ones buying in at these high prices, interest rates on the up spells disaster.

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Well, I know Cambridge well, I used to live in near by Haverhill not so long ago and even there the house prices were creeping up and up especially the two beds which made a leap within months from 120k to now above 150k. I can see BLT'ers soon suffering, especially the niave ones buying in at these high prices, interest rates on the up spells disaster.

Hi 1SV. Welcome to HPC. You sound bearish. Stick around for a bit longer until you decide to change from being a 'neither'.

Edited by redwing
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Hold on a minute, "Arbury Park" not s*****y enough for Wimpey's brochure writers? Affinity, my ar$e.

http://www.rightmove.co.uk/viewdetails-138...=1&tr_t=buy

All the directions lead you to Arbury Park, but the map's ultra-vague (drops you onto Kings Hedges Road), and there's some kind of weird absence of information if you fetch the full details pdf...

And property snake says the price has dropped a bit, too :)

P.

(And, while I'm whinging -

Property reference 520e469c-c6f7-4760-bc94-1e5bde5870ac_8e29f220-ccae-42e5-aec7-703f991a09f8. What, exactly, is that?)

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Time to resurrect this thread. Passing the Haart rental window on Regent Street this morning I spotted a Reduced price on a rental in 'Scholars Court' aka St Matthews Gardens.

Peering through the sticker revealed an original asking price of £1595 pcm.

It's now available for £1350. A £250 drop.

But there again, you can get the same thing for £1300.

Example 1

Example 2

So, these 3 bed town houses. What are they 'worth'?

A quick look on nethouseprices discovers:

They mostly sold first time around in 2003 for £300,000 giving buyers then a gross yield of 5.2%. The lowest original prices seem to be £250,000 (gross yield of 6.24%)

The most recent sale was in May this year (2007) for £375,000 (incidentally a best ever price for this development). Which means that a newcomer BTLer would be getting a gross yield of 4.1% - if they paid top dollar.

Now. The BTL argument says that there is always the capital gain.

I've copied every price from nethouseprices for this large new build development into a spreadsheet [is my life sad, or what?]. Here is the capital gains news to date:

The development first started selling around 2003.

The average absolute rise per property is £10,982

The average number of days between sales is 751 days

The average selling price (over last 4 years) is £215788

The average annual %age rise is ...... 2.474 per cent.

That is a very small capital gain during a period of quite unrelenting HPI imho.

So, how does it all stack up?

Probably, pretty well if you are a BTLer. 2.5% capital gain and 5% gross yield (might just cover the mortgage). If you took out a lot of leverage to do this, then you've probably done OKish.

But looking again at the average rise. In fact, of about 30 resales, around 10 were at less than originally paid for; the corollary is that about 20 sales saw a profit.

What I'm wondering is:

  • what does having scumbag tenants (like wot I is) in a property for 4 years do to the resale value?
  • what are capital gains going to look like if there's stagnation (or worse) in the sales market?
  • when can I open the champagne?

I'll be keeping tabs on this development and will give you all an update in 6 months to a year.

Tally ho!

Redwing

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  • 2 weeks later...
I noticed today that the block of flats on the HSBC/Old Spring end of Mitcham's corner is now up for auction (opposite Four Seasons). The block next door is also for sale. BTL cashing in, I suppose?

J.

This is the block next door:

http://www.rightmove.co.uk/viewdetails-926...36&tr_t=buy

£649,950 for four one-bed flats

And this is the auctioned one, Lot No. 128 - now withdrawn (not Sold Prior or Sold After, just Withdrawn)

http://www.auction.co.uk/Both/OnlineCatalogue.asp

"Cambridge 155 Chesterton Road, Cambridgeshire CB4 1AA

A Freehold Attractive End of Terrace Building arranged to provide Four Self-Contained Flats. Three Flats subject to Assured Shorthold Tenancies, One Flat Fully Vacant"

Actually, I've just realised the auction was this weekend and today: "Residential auction 12th (London) and 17th (Leeds) September 2007". It would be interesting to see how quickly it sells, post-Nothern Rock frenzy, if it does.

Anybody fancy living on a busy traffic island?

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  • 444 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% +
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      • Even
      • up 2.5%
      • up 5%



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