Azara Blog: Cambridge allegedly a property hotspot

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Date published: 2006/04/30

The Cambridge Evening News says:

Cambridge is one of the best cities in the UK for property investment, according to a TV poll.

Students and commuters have led to a booming market, concluded celebrity house hunters Kirstie Allsopp and Phil Spencer, who revealed Where's Best to Invest.

Cambridge came second in the top 10, with only Oxford a better bet for a landlord's money.

House prices in Cambridge could rise an average of nearly ££100,000 in just five years as demand outstrips supply.

The rental market is booming and comprises mostly one or two-bed flats let to London commuters, the programme revealed last night.

Students lead demand with 20,000 living in the city, but many families are also searching for rental properties with townhouses and other larger buildings always fast to let.

New developments planned around the railway station and the regeneration of the city centre are areas to watch.

The programme singled out The Triangle and The Belvedere developments, where a penthouse sold for £1.2 million recently. The north of the city, with its lower prices, was earmarked as a future hot spot.

The average price of a house in Cambridge was projected to rise from £244,183 in 2005 to £336,239 by 2010.

Well most of the real top 10 were boroughs of London, but that would have made a boring TV show so they arbitrarily excluded London from the results, which is rather silly. And the idea that two TV pundits and their (unnamed) experts can predict house price rises five years into the future is not very credible. Of course prediction is cheap, nobody will come back in five years and sue them if they have it wrong. So another cheap prediction is that if anything goes up in value relative to the rest, it will be the few decent houses with decent gardens, because they are building no new such housing in Cambridge, just loads of flats and a few rubbish houses. And ironically the proposed railway station development has just been thrown out by the city. If the cattle market development is anything to go by, it could be ten or twenty years before the railway station development fully takes place.

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