Why Cambridge so expensive?

MSforums

I was hoping to buy an apartment in Cambridge for around 150K. 
The cheapest are going for 300-400K. 
Why is it so expensive there and will prices go down soon?
Any suggestions?

[Deleted User]

If you want to debate house prices in various parts of the UK I suggest you post your questions on the Debate House Prices and the Economy board rather than starting multiple threads on this board with fictitious scenarios. 

https://forums.moneysavingexpert.com/discussion/6101047/apartments-for-200k#latest

[Deleted User]

Less than an hour to london on the train 
The University 
Tech capital of uk
Microsoft, Sony, hp all have massive offices there
Astrazenica relocated to there a few years back
Addenbrookes and its constant expansion

Its expensive as a lot of people want to live there.

With that budget have a look at Ely.  Beautiful city, cathedral, markets, 20 mins on the train to Cambridge.  2 bed apartments about £155k.
If you need cheaper, Littleport is also on the train line to Cambridge and London and you will get a 2 bed house for that price. Only 7 miles further up than Ely. 

[Deleted User]

Why considering buying apartments in Cambridge and/or Edinburgh?

[Deleted User]

MSforums said:

I was hoping to buy an apartment in Cambridge for around 150K. 
The cheapest are going for 300-400K. 
Why is it so expensive there and will prices go down soon?
Any suggestions?

Homes are unaffordable anywhere decent now.
The expectation is that prices will go up in the short term as people are fooled into thinking that brexit is "done", but when the proverbial really hits the fan at the start of next year there may be an adjustment downwards. Consult your crystal ball.

csgohan4

MSforums said:

I was hoping to buy an apartment in Cambridge for around 150K. 
The cheapest are going for 300-400K. 
Why is it so expensive there and will prices go down soon?
Any suggestions?

if your budget is only 150k, you will have to look further afield like everyone else. Whether prices will go down or why the are expensive, will change the fact your budget is only 150k. I moved out of London for the very reason my budget will not even buy a garage in London

Linton

Cambridge is rapidly expanding and is now a major development/research centre paying high wages.  The city centre is small and growth is constrained by geography. Thus the high prices comparable with London with little chance, in my view, of falls . It is very pleasant if you can afford to live in the centre, though shopping for household essentials is limited and parking a nightmare.  From driving through it, the outer ring seems to be dominated by pretty grim modern high rise estates. So I suggest you avoid Cambridge itself.

There are plenty of villages and small towns just outside Cambridge, some with very  good transport links into the city.  Both Ely and St Ives are attractive places with good facilities and much cheaper housing than Cambridge.

ACG

Why do you want to buy in Cambridge? That probably helps to answer your question. 
House prices are not going to halve, if they did you would probably find half the country is out of work. 

AdrianC

Deleted_User said:

Its expensive as a lot of people want to live there.

This is the entire answer that's needed. The rest is merely an explanation of why.

Crashy_Time

Linton said:

Cambridge is rapidly expanding and is now a major development/research centre paying high wages.  The city centre is small and growth is constrained by geography. Thus the high prices comparable with London with little chance, in my view, of falls . It is very pleasant if you can afford to live in the centre, though shopping for household essentials is limited and parking a nightmare.  From driving through it, the outer ring seems to be dominated by pretty grim modern high rise estates. So I suggest you avoid Cambridge itself.

There are plenty of villages and small towns just outside Cambridge, some with very  good transport links into the city.  Both Ely and St Ives are attractive places with good facilities and much cheaper housing than Cambridge.

Last time I was in Cambridge the Tesco more or less in the middle of town didn`t even sell alcohol! and there was a homeless guy living in a bus shelter (with no real shelter) where all the coaches for London etc. line up Well overrated and overpriced IMO, like many places.

Crashy_Time

ACG said:

Why do you want to buy in Cambridge? That probably helps to answer your question. 
House prices are not going to halve, if they did you would probably find half the country is out of work. 

The boost to the real economy from cheaper house prices would mean they quickly found other jobs, did you mean half the banking industry would be out of work?