Good time to buy in Cambridge?

katiewise

Hi all

We're currently in the process of selling our house in South East London and looking for property in Cambridge. We've noticed a definite cooling in the market in our area and were wondering whether the same was happening in Cambridge, or if this is just the London effect, following numerous reports about markets slowing in the capital.

We're looking to buy at around the £400-425k mark, and are hoping that more houses come into that bracket over the next few months.

Any thoughts / area tips greatly appreciated!

DaftyDuck

I know the Cambridge market very well. It depends what you are looking for, and where.

There has been strong growth in house prices for well over 20 years, covering almost all town and near-village properties. When there have been dips, they have always more-affected the new build estates or less-desirable areas like Arbury. Closer to the city, and particularly the university areas and colleges, prices are and always will remain solid. If they fall, it will be less than in most other areas.

If you are chasing down older properties in these City areas, there are few cheap areas/properties left, but those that are higher priced are worth the outlay. Quality counts.

There has been huge growth in employed professionals on both the science parks to the north, and now medical sciences to the south, around Addenbrooks. However, too many cheap houses have been built close to these facilities, and those with money don't want to live beside their work, especially when the town and Villages are so pretty.

Will prices stay up? Well, if they stay high anywhere, I suspect Cambridge will be one such place. Gthere are overpriced areas there of course, especially some of the newbuild estates of "desirable" properties.

Has the market slowed.? Yes, it has slightly. Ready for a crash? I doubt it. Of course, some might not agree. Crashyman .. Crashyman... Crashyman... :D

Crashy_Time

You have to think about why Cambridge got so expensive, and then think about how any of this could change, then make your decision. Rising US interest rates and a global trade war won`t be good for bubbly UK housing markets.

DaftyDuck

.... and I am about to take on three more in my (insignificant in Cambridge terms) lab group. Tiny, yes, but they are all well-paid, with solid jobs. Permanent ones.

The larger group I work with in Cambridge had six employees in 1997. We now have over 200. Average salary is... well above double national average, lowest salary of technical staff is £34,000 plus bonus. I think numbers employed in Cambridge on above-average salary has increased in every single year since 1991... with no dip!

There were, at last count, twenty-three nationalities in my group. Although the dreaded Brexit has seen research move abroad, we still do the work, we are just "based" abroad for legal or financial reasons ... I'm in Basel at the moment, according to my computer and time sheet, but sitting in sunny Norfolk, but also working in my Cambridge lab... Confusing? It is for me, but that's now the working way. Now that spring is here, I can literally work while sitting in a field of sheep! Which I might do, after lunch...

Upturns... downturns, of course, Crashy, they will affect markets. But your utterly simplistic doom-laden prophesying claptrap bears no relationship to the real World!

There are few places outside London where there is massive inward investment. Cambridge and Oxford are two. There may be a downturn but, in all likelihood, that will result in a slower increase in investment. How does this affect housing? For the new build boxy stuff, even these cities might show a drop in prices. The historic money in Cambridge, let alone the continued scientific and medical input, will hold prices reasonably strong for the vast majority of properties, particularly those close to the city centre or rail/road links, especially those in more historic areas. There are overpriced properties, as people will always chance a profit on sale... even me

Now, if you want a house to rent in Cambridge.... that's expensive! :rotfl:

OP: Crashy is a regular little doomsayer on these pages. He is generally mocked, but I'm sure he is nice to his mother... reasonably sure...

Crashy_Time

DaftyDuck wrote: »

.... and I am about to take on three more in my (insignificant in Cambridge terms) lab group. Tiny, yes, but they are all well-paid, with solid jobs. Permanent ones.

The larger group I work with in Cambridge had six employees in 1997. We now have over 200. Average salary is... well above double national average, lowest salary of technical staff is £34,000 plus bonus. I think numbers employed in Cambridge on above-average salary has increased in every single year since 1991... with no dip!

There were, at last count, twenty-three nationalities in my group. Although the dreaded Brexit has seen research move abroad, we still do the work, we are just "based" abroad for legal or financial reasons ... I'm in Basel at the moment, according to my computer and time sheet, but sitting in sunny Norfolk, but also working in my Cambridge lab... Confusing? It is for me, but that's now the working way. Now that spring is here, I can literally work while sitting in a field of sheep! Which I might do, after lunch...

Upturns... downturns, of course, Crashy, they will affect markets. But your utterly simplistic doom-laden prophesying claptrap bears no relationship to the real World!

There are few places outside London where there is massive inward investment. Cambridge and Oxford are two. There may be a downturn but, in all likelihood, that will result in a slower increase in investment. How does this affect housing? For the new build boxy stuff, even these cities might show a drop in prices. The historic money in Cambridge, let alone the continued scientific and medical input, will hold prices reasonably strong for the vast majority of properties, particularly those close to the city centre or rail/road links, especially those in more historic areas. There are overpriced properties, as people will always chance a profit on sale... even me

Now, if you want a house to rent in Cambridge.... that's expensive! :rotfl:

OP: Crashy is a regular little doomsayer on these pages. He is generally mocked, but I'm sure he is nice to his mother... reasonably sure...

So population what, about 150,000? and your 200 "well paid" employees are going to save the housing market :rotfl: Throw in what 20 - 30 thousand students who could pass the bucket round at their families country mansion to help prop it all up :rotfl: In the face of the global change that is coming in how risk and credit is priced Cambridge isn`t even a spot on an elephants backside. You should stick to science and stay away from giving economic advice IMO


Oh, and please don`t mention doing sheep again...

Linton

Villages and small towns just outside Cambridge are very much cheaper and in my view provide a much more pleasant environment to live in. The traffic around the city and the number of tourists in the centre is a serious pain.

I know St Ives well, you can get a reasonable 4 bedroom detached for your money.

Crashy_Time

As London cools then so will Cambridge, but there will be a time lag before this becomes really apparent IMO.

DaftyDuck

Crashy_Time wrote: »

So population what, about 150,000? and your 200 "well paid" employees are going to save the housing market :rotfl: Throw in what 20 - 30 thousand students who could pass the bucket round at their families country mansion to help prop it all up :rotfl: In the face of the global change that is coming in how risk and credit is priced Cambridge isn`t even a spot on an elephants backside. You should stick to science and stay away from giving economic advice IMO


Oh, and please don`t mention doing sheep again...

Crashy idiocy at its best! The OP asks about the Cambridge housing market, and so you waffle on about the global change that you've been saying will come for god knows how long, and you have been wrong time after time after time .... endlessly. Who is offering duff economic advice here?

I'm not actually offering economic advice; merely reporting what has been going on here for the last three decades, and what appears to be continuing... firstly from the limited view of my own work, then in a broader context.

The OP will have to make their own mind up as to the future global or local risks. On the former, I have little idea, but I would bet what idea I do have will prove more accurate than yours. On the latter, I have some, albeit biassed, local understanding.

I'll happily agree not to mention sheep on this board, if you will stop spouting your endless claptrap bilge of economic doom.

Deal? Oh, I thought not .... baaaa !:rotfl::rotfl::rotfl:

I cannot think of anyone worse-placed than you to offer economic or housing advice, and no one has a worse record of accuracy than you.

OP. I'd agree with Linton, and go for the villages if you find the centre too expensive. However, the commute time on the A14 and A10 can be endless. Make sure you buy on the right side for your commute. I have no idea what stage the plans for expanding housing in the Waterbeach area are at, but that will cause more chaos whatever additional roads are squeezed in.

Crashy_Time

DaftyDuck wrote: »

Crashy idiocy at its best! The OP asks about the Cambridge housing market, and so you waffle on about the global change that you've been saying will come for god knows how long, and you have been wrong time after time after time .... endlessly. Who is offering duff economic advice here?

I'm not actually offering economic advice; merely reporting what has been going on here for the last three decades, and what appears to be continuing... firstly from the limited view of my own work, then in a broader context.

The OP will have to make their own mind up as to the future global or local risks. On the former, I have little idea, but I would bet what idea I do have will prove more accurate than yours. On the latter, I have some, albeit biassed, local understanding.

I'll happily agree not to mention sheep on this board, if you will stop spouting your endless claptrap bilge of economic doom.

Deal? Oh, I thought not .... baaaa !:rotfl::rotfl::rotfl:

I cannot think of anyone worse-placed than you to offer economic or housing advice, and no one has a worse record of accuracy than you.

OP. I'd agree with Linton, and go for the villages if you find the centre too expensive. However, the commute time on the A14 and A10 can be endless. Make sure you buy on the right side for your commute. I have no idea what stage the plans for expanding housing in the Waterbeach area are at, but that will cause more chaos whatever additional roads are squeezed in.

Amazing to think that you somehow think that Cambridge is immune to all that is going on in global finance at the moment :eek:

buggy_boy

Crashy_Time wrote: »

Amazing to think that you somehow think that Cambridge is immune to all that is going on in global finance at the moment :eek:

The same thing was said on HPC 10 years ago after the crash, they were expecting an Ireland style crash, predictions of 60%+ crash, they and you are still waiting. Cambridge has a lot going for it that will make it a lot more immune than other places in the country or the world...

DaftyDuck

Crashy_Time wrote: »

Amazing to think that you somehow think that Cambridge is immune to all that is going on in global finance at the moment :eek:

I don't think - or imply - that for a moment, to anyone but an idiot. I can, however, see how you might reach such a conclusion....

You currently think there is a financial crisis looming, and there will be a collapse in the housing market..... and you have posted the same thinking pretty much every day - for years... You have been wrong on every previous occasion. I suspect you will maintain this success rate into the future.

The OP is selling a house (a home, not an investment property) and wants to buy another to live in and asks if Cambridge is a good place to buy. Given "everything that is going on in the global market" is pretty much what goes on (and off) on a regular basis, Cambridge is a more sound place than most. If there is a downturn in the market, a slowdown, I don't think Cambridge will be much affected ... If there is a crash (unlikely to happen, won't be large in my opinion), Cambridge will be one of the least affected towns in the UK.

Not immune... but more able than most to weather a downturn, better placed to regain momentum in a recovery. Were there to be a crash, it would crash less and suffer less economic damage. The employment profile will certainly help, as will the breadth of investment.


You may want and wish for a housing crisis, and pose as some kind of economic expert, but you have little understanding, a childish outlook, a simplistic worldview, and have been wrong in virtually every one of the many posts you make on this forum. Pretty much 100% record. If that alone isn't enough to convince you of your own idiocy, I have nothing but pity for you.

Now, unlike you, I will never make assured claims that I can see into the future, can predict what will happen to house prices in a year or two. I suspect there will be no "crash" but some prices might fall a bit. Then they will go up, reasonably steadily.

Now, with your permission.. I have sheep to tend to. Next lot are lambing soon! Life is such fun and jollity.... Cheer up!