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Nice to know me and Redwing have company in Cambridge!

It was going quiet...

No semi on Metcalfe Rd achieved more than £300K until Sept. 2005 (£310K) according to nethouseprices.

£375K asking. Now. Unreal unrealistic-ness. Can't wait until Bradshaws get bitten.

TuckerG are now valuing semis in much better parts of town at 2005 prices.

Which confirms the experience of the poster a few weeks back who got roughly a £100K range in valuations on Glebe Rd.

ie. that some EAs have a death wish

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The prices are slowly getting there, these EAs can be thick, so it will take them a while to get it.

None of the properties that I've put "insulting" offers in on have sold yet.

I like you am observing the Cambridge property market, on a daily basis I look at Cambridge Property Database as this lists new houses every day. What interests me is the reduction in the number of properties available, this time last year there were 3800 properties listed, today there are 2338. Some of these listing are sold and not removed but this is only about the same percentage as a year ago. The number only seems to decline on a daily basis and the same EAs are still listing.

http://www.cambridgepropertydatabase.co.uk/

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Thanks Ognum.

Visiting http://www.cambridgepropertydatabase.co.uk/ and not being familiar with the site, I ended up spotting this one (one of two actually):

Wimpole 5 Bed New Build

I've been driving past this development every day and watching with amazement as these monstrous houses emerged from a formerly derelict site.

I'd always assumed that they were being built to order. I couldn't imagine that anyone would build such things on spec. So, I was very surprised to see both for sale. And at a time when they are all but complete. I'd have thought for such large and luxurious houses they'd have wanted to secure the buyers in advance of the final decorating and kitchen fitting etc. Even more, I'd have thought the builders would have wanted buyers at the initial design stage to get the floor plans to match their clients' needs.

How wrong can you be.

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Thanks Ognum.

Visiting http://www.cambridgepropertydatabase.co.uk/ and not being familiar with the site, I ended up spotting this one (one of two actually):

Wimpole 5 Bed New Build

I've been driving past this development every day and watching with amazement as these monstrous houses emerged from a formerly derelict site.

I'd always assumed that they were being built to order. I couldn't imagine that anyone would build such things on spec. So, I was very surprised to see both for sale. And at a time when they are all but complete. I'd have thought for such large and luxurious houses they'd have wanted to secure the buyers in advance of the final decorating and kitchen fitting etc. Even more, I'd have thought the builders would have wanted buyers at the initial design stage to get the floor plans to match their clients' needs.

How wrong can you be.

Are they on the former wood yard on the main road? They are built as family houses I presume but I would certainly not want young children living that close to the lake. Interesting, you used to not get much for a million in Cambridge but times are changing, I think they may hang about a bit. Let me know when the Sold signs go up.

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Are they on the former wood yard on the main road? They are built as family houses I presume but I would certainly not want young children living that close to the lake. Interesting, you used to not get much for a million in Cambridge but times are changing, I think they may hang about a bit. Let me know when the Sold signs go up.

Are they on the former wood yard on the main road? Yes - I think that's the spot.

I would certainly not want young children living that close to the lake. They are more like ponds than lakes. I grew up with a very large pond at the bottom of the garden. It was marvellous; newts, sticklebacks, pond beetles. I couldn't wish for more for my kids than that they could grow up with some water to play in/on and learn from.

I'll let you know when there's a removals van. There's been no sign of a for sale sign yet. They are still struggling to sell some half million pound new builds on the opposite side of the road.

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First posting, so please excuse any netiquette errors.

Our son lives in Cambridge and is looking to buy his first property, which would be in, or close to, the city. We have offered to help him with the purchase, otherwise he would find it impossible to get on the ladder (snake?).

Since we live in France, we cannot easily check out the property scene in that area, but our son tells us that properties are now selling quickly and that Nationwide have told him of an increase in agreed mortgages locally. In other words, he is advised, the property market has bottomed in Cambridge.

We do not want him to be waiting for ever for his first home but, equally we do not want to see his capital (and ours) eroded by buying while the market may, in fact, still be falling.

Other than anecdotal evidence, what other evidence is there to show what is really happening in the area in and close to Cambridge?

We have looked at the following web site which indicates that there is still a strong downward price move. What do locals think or know?

http://www.zoopla.co.uk/market/CB1/

Thanks in advance.

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First posting, so please excuse any netiquette errors.

Our son lives in Cambridge and is looking to buy his first property, which would be in, or close to, the city. We have offered to help him with the purchase, otherwise he would find it impossible to get on the ladder (snake?).

Since we live in France, we cannot easily check out the property scene in that area, but our son tells us that properties are now selling quickly and that Nationwide have told him of an increase in agreed mortgages locally. In other words, he is advised, the property market has bottomed in Cambridge.

We do not want him to be waiting for ever for his first home but, equally we do not want to see his capital (and ours) eroded by buying while the market may, in fact, still be falling.

Other than anecdotal evidence, what other evidence is there to show what is really happening in the area in and close to Cambridge?

We have looked at the following web site which indicates that there is still a strong downward price move. What do locals think or know?

http://www.zoopla.co.uk/market/CB1/

Thanks in advance.

The only evidence that I can provide is a lack of supply, I dont know if thats helpful. As you see from my previous post I use http://www.cambridgepropertydatabase.co.uk/ daily and the supply has dropped by a third in the last year. I would say from what I see that good houses in good areas are still selling, prices have reduced and the scrum of bidding has reduced. I still hear of a house in Glisson Road that attracted several offers and sold way over asking though.

My opinion is the lower end is still falling and the upper end is following.

Edited by ognum
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If you take UK house price measures they range from a 10% to 20% decrease over last year. Anecdotally I'd say Cambridge has seen a 15% decrease in price.

It is now cheaper for your son to have a mortgage than to rent with rates as they are but I think there will be an 'overshoot' of prices, so you should hold off for a year if possible. I think we're about half way through the steepest falls and there's another 10-20% to go.

I don't see much evidence of properties selling quickly having regularly checked Rightmove website. I use the Firefox browser rather than Internet Explorer and this allows use of a plugin called Property Bee which tells you the price history of each property (the estate agents don't really want you to be tracking that!)

If the urge to buy is too strong, then make sure you start with cheeky offers - first offer should be almost embarrassing for you to make. However, if using property bee you see a property that has been on market for a long time you may get lucky.

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TuckerG are now valuing semis in much better parts of town at 2005 prices.

Which confirms the experience of the poster a few weeks back who got roughly a £100K range in valuations on Glebe Rd.

ie. that some EAs have a death wish

That was me, the 100K price range was given to me 12 months ago, its back on the market now for 10% off the price a year ago. The issue I have with price of course is that no one else is really putting the prices down properly either. I would be perfectly happy to sell our house for 2.50 if i bought the next one for 3 pounds :)

We have had about 12 viewings ( not including the couples who made a second visit ) in 7 days.

We at least are getting more viewings than I remember 12 months ago. Although reducing price is the way to increase viewings so maybe thats all thats changed ?

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First posting, so please excuse any netiquette errors.

Our son lives in Cambridge and is looking to buy his first property, which would be in, or close to, the city. We have offered to help him with the purchase, otherwise he would find it impossible to get on the ladder (snake?).

Since we live in France, we cannot easily check out the property scene in that area, but our son tells us that properties are now selling quickly and that Nationwide have told him of an increase in agreed mortgages locally. In other words, he is advised, the property market has bottomed in Cambridge.

We do not want him to be waiting for ever for his first home but, equally we do not want to see his capital (and ours) eroded by buying while the market may, in fact, still be falling.

Other than anecdotal evidence, what other evidence is there to show what is really happening in the area in and close to Cambridge?

We have looked at the following web site which indicates that there is still a strong downward price move. What do locals think or know?

http://www.zoopla.co.uk/market/CB1/

Thanks in advance.

I also am considering a Cambridge house purchase for one of my children, I will not be buying yet and I look at the market every day. I will also be very careful where the house is because location is key in the Cambridge city market.

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If you're buying started places for offspring, I imagine you're looking at exactly the same sorts of properties as me. Therefore you should s*d off, now is a really really really *reall* bad time to buy, honest.

Joking apart... my experience is that the bottom of the market is still falling. I've noticed there seems to be less 1 bed flats on the market than before, though they don't seem to be selling. The majority of the places I've been putting low offers in on still haven't sold, so I think people are going to have to stomach some further falls if they actually want to sell.

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First posting, so please excuse any netiquette errors.

We do not want him to be waiting for ever for his first home but, equally we do not want to see his capital (and ours) eroded by buying while the market may, in fact, still be falling.

http://www.zoopla.co.uk/market/CB1/

Thanks in advance.

I'm sorry to hear that your son is homeless. He could try renting a home. I know rents are high in Cambridge and you need to be earning to be able to afford private sector rents here. But if he's homeless and out of work, it's probably going to be difficult to get a mortgage.

Or am I missing the point?

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I'm sorry to hear that your son is homeless. He could try renting a home. I know rents are high in Cambridge and you need to be earning to be able to afford private sector rents here. But if he's homeless and out of work, it's probably going to be difficult to get a mortgage.

Or am I missing the point?

No, he's not homeless. He is currently renting in Cambridge but after many years paying landlords' their pound of flesh he now wants to have a place of his own which will be "home" and not just a room in a shared house.

Thank you - and all other respondents for your kind help.

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I bought about 5 years ago, probably in similar situation to your son. It is natural for him to want his own place, and for you to want to help out. But, as Redwing said consider the middle option of renting a house. I was lucky about when I bought in the cycle but it wasn't due to any skill or judgement on my part. I didn't consider renting a house. In this stage of the cycle (on way down) it may be the better option. Renting is not dead money if house prices are going down this fast.

Rent on, say a home of £170k is around £750 per month in Cambridge. If mortgage was £120k at 4% this would be £400 per month interest only... but the house is losing 1% a month which is £1700.

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Hi Forum.

have found some comments on the this thread really informative as we are currently looking to purchase in Cambridge. From our experience in the past few weeks some of the better presented properties (particularly period) have STC within days of being marketed....2 properties we were due to view last week were cancelled due to offers being made. There does seem to be a huge uplift in city centre properties...is this a form of postcode snobbery or are their outskirts of the city centre that are not too desirable?!

viewing several more houses this week but there doesnt appear to be the distressed seller syndrome in cambridge and many EAs seem to be pricing more realistic?

can keep you updated with our findings if this proves useful to others in similar position..

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Hi Forum.

have found some comments on the this thread really informative as we are currently looking to purchase in Cambridge. From our experience in the past few weeks some of the better presented properties (particularly period) have STC within days of being marketed....2 properties we were due to view last week were cancelled due to offers being made. There does seem to be a huge uplift in city centre properties...is this a form of postcode snobbery or are their outskirts of the city centre that are not too desirable?!

viewing several more houses this week but there doesnt appear to be the distressed seller syndrome in cambridge and many EAs seem to be pricing more realistic?

can keep you updated with our findings if this proves useful to others in similar position..

Welcome! :)

Yes, please do keep us all informed of your findings.

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Welcome! :)

Yes, please do keep us all informed of your findings.

Thanks for this information. I would be interested to know what price bracket you are looking in and what parts of the city, I hope you will be prepared to say. Would it be possible for you to post some rightmove links to property you have loved and lost.

As you are looking in the city I am sure you are aware that city prices have always carried a premium unlike other parts of the country where it is actually more expensive to live outside the town.

As for living out of the city it depends what you are looking for and where you are trying to commute too. The popular necklace villages are probably Histon/Impington, great for the Science Park and Stapleford Shelford grat foor Addenbrookes. Cambridge does at least seem to be investing in some good cycle infastructure.

If you are happy to tell us where you need to be close too I am sure I and others will help.

I know of several people with city homes who would sell if they could do so quickly and without too much fuss but will hang on if they have to put up with their homes being on the market for a long time. All these people to do need mortgages or NEED to sell but may move to be closer to family etc.

IMO there are plenty of people in Cambridge who are cash rich and they may be trying to get some return on their savings.

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thank you both.

we are not familiar with the cambridge market generally, ashistorically and are at the stage where every weekend visit find another potential desirable area/street. This one has come on recently and we are booked in to view..

http://www.rightmove.co.uk/property-for-sa...3Ftype%3DBUYING

its the right location, managebale distance to the station......but maybe at risk to wandering youth? we were suprised to see cambridge at the wrong end of the table for burglary staistics?!..info released today

the 1930/40's suburban area to the SE of the station ( over footbridge) also appeals as more green space and good bus links.

there is certainly a lot of cash tied up in cambridge and it would appear the 'gown' rules the roost and much land within the city. The lack of supply of period properties and central based houses tells me that many will keep hold until price movement goes North. Apologies if this is not how things are, it is just are feeling since our short introduction to the area. One EA has told us Cambridge prices do not do 'spring bounces' as this is the most busiest times for the local market and prices are fairly priced considering what the city has to offer

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thank you both.

we are not familiar with the cambridge market generally, ashistorically and are at the stage where every weekend visit find another potential desirable area/street. This one has come on recently and we are booked in to view..

http://www.rightmove.co.uk/property-for-sa...3Ftype%3DBUYING

its the right location, managebale distance to the station......but maybe at risk to wandering youth? we were suprised to see cambridge at the wrong end of the table for burglary staistics?!..info released today

the 1930/40's suburban area to the SE of the station ( over footbridge) also appeals as more green space and good bus links.

there is certainly a lot of cash tied up in cambridge and it would appear the 'gown' rules the roost and much land within the city. The lack of supply of period properties and central based houses tells me that many will keep hold until price movement goes North. Apologies if this is not how things are, it is just are feeling since our short introduction to the area. One EA has told us Cambridge prices do not do 'spring bounces' as this is the most busiest times for the local market and prices are fairly priced considering what the city has to offer

I am sure you have checked the historic sold prices

http://www.primelocation.com/uk-property-f...le/sold-prices/

The price is close to one nearby that sold for 5K more in December, I am not sure but I think this house has been on and off the market a few times as I remember seeing the interior shots a while ago.

Before you go for it I wouuld see what its like on a Saturday after pubs close. It is also a street which could be very noisy and abused when anything is going on at Midsummer Common, particulaly when the fair is on, Bonfire Night and Strawberry Fair.

Do you have a car because Im really not sure round there where you would park. Those are my negatives, I think its probably a nice place to live but I like city living. I think the price is a bit high and I would carefully check the 'tanking' in the basement because if its not well done it will be expensive and messy to fix!

Hope this is helpful!

Edited by ognum
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Also forgot to mention the ECHG hostel that is two or three doors away. I have never heard particulaly bad reports of it but the grafitti on the window frames would put me off a bit

This is how they describe themselves

ECHG offers affordable and sheltered housing and is increasingly recognised for its pioneering work with homeless people who have alcohol, drugs and mental health problems. This includes housing schemes such as Willow Walk in Cambridge, as well as nationally-recognised pilot projects in cities around the country.

I think I would ask around the area to see if it has any effects.

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I note that both BBC and Zoopla say that the prices of terraced houses in Cambridge showed a slight bounce over the past few months, while all other types of property in the city continued their downward trend. A statistical blip?

Our son(see earlier) has decided that he would prefer to live outside the city but within easy commuting and this week he will be viewing houses both north and south of the city, prefering south because of easier road links - and more property for your money. Is that correct on both counts?

We are so glad that we are not house hunting in that area. Our detached home in France is about the same price (we think) as the terraced house mentioned previously, but it has 220 m2 with a two acre garden. This is not meant to be a "look what we've got" scenario, but just pointing out how UK prices have become so unrealisticaally priced over the past ten years, that they can only continue to fall in order to return to their historical rlationship to earnings.

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This is not meant to be a "look what we've got" scenario, but just pointing out how UK prices have become so unrealisticaally priced over the past ten years, that they can only continue to fall in order to return to their historical rlationship to earnings.

Too fukcing right!

Now stop ramping our property market and try to sell your own friggin place in France. I bet it's not worth nearly as much as you think, and I don't think you'll be getting any offers for it anyway.

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  • 441 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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