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Just in case you missed this gem on the main forum

House to rent in Ross Street

At some point in the future people are going to realise that the whole Petersfield/Romsey area is now full of BTL scumlords and a rotting stock of late C19th housing that was tarted up in the late C20th and has been filled up with tenants who can't afford the rents, actually.

I know that Cambridge has somehow magically avoided the last two years of property deflation. But I still believe the town's heading for a huge amount of hubris and massive fall.

£700k for this, purlease....

http://tgresidential.com/Buy/Details.aspx?id=S14315

For 'landscaped garden to the rear' read 'starter-home back yard'.

Judging by the inverse relationship between property prices in Cambridge and the state of the UK economy, I predict that prices will rocket as soon as unemployment hits the three million mark...

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£700k for this, purlease....

http://tgresidential.com/Buy/Details.aspx?id=S14315

For 'landscaped garden to the rear' read 'starter-home back yard'.

Judging by the inverse relationship between property prices in Cambridge and the state of the UK economy, I predict that prices will rocket as soon as unemployment hits the three million mark...

yes landscaped indeed :lol::lol:

shoebox lounge for a £700K house

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It seems that 30 Magrath Ave was bought for £350k in Jan 2008, so that's a 100% mark-up in just a year and a half – ouch! Looking at the sold prices on that road makes Tucker Gardner's valuation look even more optimistic (but having said that, the way houses are flying off the shelves in the city at the moment, someone will probably by it)...

http://www.rightmove.co.uk/house-prices/de...;summaryIndex=0

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Hi,

I have been looking at this thread for a while now and always found some interesting views, so maybe you could help me understand something.

I am looking for a 3 bed house for under 250k, I asked to view a house a couple of weeks ago, but the EA never got back to me, I called him 3 times and every time he told me he couldn't get a hold of the landlord. In the end I asked for the address and had a look round, saw some laundry in the garden, knocked at the door and surprise the landlord was just inside and apparently the EA never told him about any viewings ( but they called him a day before ).

So was the EA thinking I am not a good enough buyer, or were they using this house as bait.

As well I am a foreigner, so I would like to know if it's possible to bypass the EA for this house, what would I risk ( the EA now knows I viewed the house).

It's located off newmarket road after the stadium on the stadium side, is it a reputable location in cambridge?

Thanks

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£700k for this, purlease....

http://tgresidential.com/Buy/Details.aspx?id=S14315

For 'landscaped garden to the rear' read 'starter-home back yard'.

Judging by the inverse relationship between property prices in Cambridge and the state of the UK economy, I predict that prices will rocket as soon as unemployment hits the three million mark...

Mortgage estimate of £3,642 a month? :blink: Well f**k a duck! :(

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Hi,

I have been looking at this thread for a while now and always found some interesting views, so maybe you could help me understand something.

I am looking for a 3 bed house for under 250k, I asked to view a house a couple of weeks ago, but the EA never got back to me, I called him 3 times and every time he told me he couldn't get a hold of the landlord. In the end I asked for the address and had a look round, saw some laundry in the garden, knocked at the door and surprise the landlord was just inside and apparently the EA never told him about any viewings ( but they called him a day before ).

So was the EA thinking I am not a good enough buyer, or were they using this house as bait.

As well I am a foreigner, so I would like to know if it's possible to bypass the EA for this house, what would I risk ( the EA now knows I viewed the house).

It's located off newmarket road after the stadium on the stadium side, is it a reputable location in cambridge?

Thanks

If you really want the house, cut a deal direct with the owner. The agent will then claim their fee from the owner who will have to pay it, but that isn't your problem. Or discuss with the owner then the two of you go back to the agent and get them to process the paperwork.

Or put a ridiculously low offer in with the agent and check with the owner that it got put through. By law agents have to pass on any offers to the owner. It could be that the EA is intending to stitch it up and sell the house to himself or to a mate so he is blocking any viewings. Surprisingly EA's eithics are often lacking.

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When I saw the recent thread 'Would you invest in Newmarket', I thought someone had found the wrong site and should be redirected to betfair or Ladbrookes.

But it got me thinking again. Cambridge prices are still insane. But prices fall quite quickly as you move further afield. Just what is it about Cambridge which rationally maintains such a huge differential? Is rational?

Typical Ely two bed terrace £145,000

Newmarket 2 bed terrace nicely done up £155,000

Cambridge 2 bed terrace £235,000

What extra amenity do you get for the extra 50% on the price? How else could you spend the £85,000 difference by living 15 odd miles away?

This is a serious question. I really do want to know why Cambridge is 50% more than neighbouring towns. I have some ideas of my own. But I'd like to hear yours' too.

Edited by redwing
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*sticks hands up* I can answer this one. It doesn't just affect people who've bought; the effects are similar when renting. I moved from renting a nice 1 bed flat in Huntingdon to a room in a shared house in Cambridge. It was worth it.

If you live in Cambridge you are live in a genuinely lovely town, but have available on your doorstep amenities and activities far beyond what would normally be expected of a place it's size.

In addition, most work in the area is in Cambridge or very close to it, and while travelling into Cambridge isn't that good, travelling out of Cambridge to the majority of the available work isn't that bad.

Further, if you work in London, Cambridge is about the limit of travelling distance and has frequent fast services. Ely's a bit far, and Newmarket's a bit far and doesn't have that great a service.

I used to spend about 15 hours a week on the A14 and kept on missing out on things I could have been doing and wanted to do that were in Cambridge. I now have that time to myself, and Cambridge offers plenty to do in it.

I often think of a slogan the Docklands Development Corporation used in the 80s; a montage of adverts for new towns stating their distance from London and how easy it was to get there, overlaid with the slogan "Why leave if you have to keep coming back?". Well Cambridge is in a similar situation; why move to Newmarket or Ely when you'd have to keep coming back to Cambridge?

Edited by mikeymadman
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If you live in Cambridge you are live in a genuinely lovely town, but have available on your doorstep amenities and activities far beyond what would normally be expected of a place it's size.

...

I used to spend about 15 hours a week on the A14 and kept on missing out on things I could have been doing and wanted to do that were in Cambridge. I now have that time to myself, and Cambridge offers plenty to do in it.

You're right. It is about amenity (in the economics use of the word). It just seems to me that at the moment the price of that amenity is huge.

Using my house price examples, an equivalent small mid-terrace is going to cost £85,000 more. Say you borrowed that money at 4% (or stuck it in the bank at 4%) that's an annual cost of £3,400 for the extra amenity.

Is living in Cambridge worth an extra three and a half grand a year? I guess if it's two of you, then that's shared.

I've lived in Cambridge off and on since 1983, and love the place to bits. I know it's cost me over the years. But I'm seriously thinking about getting out.

It's the same with Rentals. Renting outside Cambridge can save you £300 - £400 pcm for equivalent two-bed terraces. It's the same sum: about £4k pa.

Has the differential always been so huge? Or is this temporary as Cambridge prices seem to be maintaining better than the hinterland?

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I'm also forgetting education: if you have children then there are certain areas of Cambridge you want to live in for school purposes and nowhere else compares.

I made a similar calculation; but at the bottom of the rental market so the difference was a little smaller, and I live on my own. The first thing you have to do is take the additional travel costs off that. For me it would have been £1,000 a year, if it involved a car probably more.

But using your larger figure and for two people; for me the difference came down to 15 hours a week on the A14 v 15 hours a week enjoying myself in Cambridge (plus a bit more to allow for being able to do things late at night and so on, but lets call it 15 hours a week to make it easier).

This works out at high quality free time for a payment of about £1.25 an hour. I'd pay that :) It also means that if my current job does blow up, then I've got the opportunity of commuting to London to get another one.

I've only been in the area 5 years, but I think the difference has become bigger recently. Prices between Huntingdon and Bar Hill started to fall a year earlier and fell a goodish 20-25%, but prices in Cambridge only started to fall later, and only seemed to have gone down about 10% until the recent dead cat bounce. (I exclude Orchard Park from this as that's been more affected by the new build dump in the middle of nowhere market than the Cambridge market.)

However people that have lived here a long time assure me that in the last crash the furthest flung places lost up to 40% and Cambridge lost a lot less in comparison, so it may stay that way.

Since moving to Cambridge I have considered very bargain priced repos in Soham and Fordham. Despite their prices, it just came down to that I don't want to live in these places and have to get a car and travel.

Edited by mikeymadman
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When I saw the recent thread 'Would you invest in Newmarket', I thought someone had found the wrong site and should be redirected to betfair or Ladbrookes.

But it got me thinking again. Cambridge prices are still insane. But prices fall quite quickly as you move further afield. Just what is it about Cambridge which rationally maintains such a huge differential? Is rational?

Typical Ely two bed terrace £145,000

Newmarket 2 bed terrace nicely done up £155,000

Cambridge 2 bed terrace £235,000

What extra amenity do you get for the extra 50% on the price? How else could you spend the £85,000 difference by living 15 odd miles away?

This is a serious question. I really do want to know why Cambridge is 50% more than neighbouring towns. I have some ideas of my own. But I'd like to hear yours' too.

Ely linky doesn't work - guess it should be this one! http://www.rightmove.co.uk/property-for-sa...y-12363519.html

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An old friend has just returned to Rightmove:

http://www.rightmove.co.uk/property-for-sa...y-13271883.html

This place has been advertised on and off for the last 5 years at prices ranging from 800K+ down to the 500K they're now asking for. Basically I think it's unsaleable - it's listed, but it's right next to the river and must flood quite regularly and it has a direct line of sight to the A14.

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Flying off the shelves, but without any new ones really coming on the shelf? Or is that just my impression?

I think you're wrong - although I have no stats to prove it - stuff is certainly selling quick but there does also seem to be a lot of new stuff coming on (although a reasonable chunk of the new stuff is old stuff that didn't sell and was taken off the market).

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There are fewer properties on the market, prices are up and competition for houses is hotting up.

Well, interest rates did go from 5% to 0.5%.

We are seeing a housing recovery of sorts - no doubt about it, but for how long they keep interest rates this low - who knows?

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Any fool wanting to part with their money around here? Not likely!

Check this out

http://www.rightmove.co.uk/property-for-sa...campaign=buying

Bought for 530 in November 2006. They might have done some work, but it's a killer increase!

Are you sure it's the same house? Looks pretty big and 530 would be incredibly cheap for a house of that size on Wilberforce.

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I have not been watching Rightmove for a couple of weeks so I logged in today and searched for houses in Cambridge listed in the last 14 days.

61 houses were listed, 9 off which have been sold in the 14 days.

I was interested in the nine houses that sold quickly so checked them out.

Three were sold stc by Redmaynes

Willow Walk @ 475K

Holyrood Close 385K

Covent Garden 325K

The other 6 were shared equity new builds sold by Russells

I have noticed over the last few months that Redmaynes seem to sell houses quickly and they seldom come back onto the market. Is this due to the type/position of houses they sell, their knowledge of the market, their advice to clients on which offer to take or is it just a quirk.

Does anyone have any opinions, I am sure other EAs are selling, these just seem to go quickly. Maybe they are just better at keeping Rightmove updated.

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The Covent Garden one came on just over two weeks ago and I viewed it within a day or so. It was a lovely house in a good location, but just too small with no viable options to extend (plus right at the top of my budget). I'm not surprised its now STC and had expected there to be a bit of a bidding war over it. The vendor was keen to sell quickly as they were relocating overseas. When the agent contacted me about it 2 days after my viewing they said they already had 2 offers on the table and were looking to up the bidding.

Edited by Uitlander
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Are you sure it's the same house? Looks pretty big and 530 would be incredibly cheap for a house of that size on Wilberforce.

Checked again it is 575 in November 2006. so it has only risen by 95 per cent since Nov 06. Who are they kidding? I sold two houses in London and never got such a fat profit, not even in rising market. I was lucky to get 30 per cent more after nearly three years and after doing work to it.

There are better houses for that money, I saw a cheaper one in better location and with period features.

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700,000 for an uninsulated terraced house with no garage anyone ?

<snip>

Bought for 350,000 two years ago.

FFS.

Yeah I spat my coffee out when I saw that a few days ago. 3 bed on the same road also with a Bay (in need of work) was asking 350K a few months ago. The madness continues....

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That's the house next door to the magrath avenue nuthouse. Unbelievable but I'm sure they'll sell to a slightly naive but wealthy person that likes care in the community!

Yeah I spat my coffee out when I saw that a few days ago. 3 bed on the same road also with a Bay (in need of work) was asking 350K a few months ago. The madness continues....
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  • 439 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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