Cambridge housing bubble

MovingForwards

https://forums.moneysavingexpert.com/discussion/6247299/no-4th-seiss-grant-for-me#latest

Postings reminds me of the boy who cried wolf, the one time he needed help no one believed him.

[Deleted User]

Been living outside Cambridge for about a decade now and every client i speak to talks about a housinf crash. It just doesnt happen.

People cant afford to live in london so they move to Cambridge, people then cant afford to live in Cambridge so they end up in newmarket, ely, st neots etc, people cant afford to live there so they live in Chatteris, march, Littleport, soham etc.

In my opinion the housing market works fine here. Its a bit pricey of course (especially as im from small town Scotland so i know the pain) but ultimately there is options if you cant get where you want and most of them have decent travel links back to the bigger towns and cities. 

There isnt going to be a property crash anytime soon.  Every large tech company and medical research company has a base around the area. Its stupidly attractive to live there for ao many people.

Also i think they are linking Cambridge to oxford with better travel kver next few years so only more reasons the bubble isnt bursting 

stevenbecca

MoneyTreeMe said:

stevenbecca said:

As i said on your other post, you won't get anything decent on cambridge for 200k, its just about the most science rich city on the country it has one of world's best universities and has the largest hospital in Europe housing the best heart hospital in the world and one of the brain surgery wards in the world. price's are because people that want to live in the city can mostly afford to. there's a reason every road is jammed up twice a day. 

With Brexit many of those workers will have or be leaving.
And there is supposed to be new towns built on the outskirts soon, providing new 'affordable' housing.
Will this cause prices to drop in the main city and by how much? Or maybe those new houses will making living there more attractive and push prices higher?
But how much does a tech worker earn?  Certainly not enough to afford a 500k house outright, maybe not even a mortgage on a single salary, which is what the average price is in Cambridge, thereabouts. It makes you wonder who is buying those houses - maybe mostly cash rich investors from London? -  or tech workers who come from rich families who have a lot of financial support. 

those supposedly affordable towns will unlikely have anything below 250k on them. the marleigh development 3bed start at just under 400k i believe.