As our new builds are sticking thread has been hived off to some distant corner, I thought I'd start a new Cambridge thread for you all in the place you'd probably look for it.
Oh, and why can I no longer find all the local stuff in one forum? If there's one forum that's got so large it has become unmanageable, it's not this one.
Full Version: Cambridge
Good idea redwing 
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QUOTE (redwing)
Thanks for the link. 2,300 homes of which 60% houses/ 40% flats. Is it me, or does there seem to have been a vast increase in house building in and around Cambridge in the last 5 years? I can't remember anything on this scale since Bar Hill and Kings Hedges in the 60s/70s.
Definitely, there was almost nothing built in the preceding 5 years either. Clay Farm and Arbury Park are the biggest new developments in Cambridge City itself for a very long time too.
House prices create a tale of two cities
From the Cambridge Evening News 28/12/08
From the Cambridge Evening News 28/12/08
QUOTE
CAMBRIDGE is now the sixth most expensive city in the UK, with average house prices breaking the £300,000 barrier for the first time.
A survey by Nationwide showed average house prices stood at a £306,134 at the end of 2007 - a nine per cent rise of last year's figure of £281,227.
It means the average cost of a home is now a staggering ELEVEN times the average national wage of £27,146 - making it virtually impossible for thousands of first-time buyers to get a foot on the housing ladder.
Only Belfast, Oxford, London, Brighton and St Albans were a more costly place to buy than Cambridge - with the Northern Irish capital seeing the fastest house price rises of £200 a day.
While rocketing prices are good news for some city residents, there are fears that rampant house inflation is damaging Cambridge, turning it into a society of the haves and have-nots.
Shop manager Emily Leslie (24), who rents a house with friends in Victoria Park, Cambridge, was dismayed to hear prices had continued to soar.
She said: "It's quite disheartening because I was starting to think about buying a home, but it's just too expensive.
"The only way I could afford to buy somewhere is by clubbing together with friends. My housemates and I talked about it, but the financial burden was still too heavy for somewhere in central Cambridge.
"It is definitely driving people away from Cambridge. They might come back from London once they've made some money, but is it a good thing for the city to lose so many young people?
"It seems that all people in their 20s and 30s in Cambridge are renting, which just means you are throwing your money away. But what else can you do?"
Coun John Hipkin, former Mayor of Cambridge, also believes the price rises are harming the region.
He said: "House prices are far too high.
"All the people that a successful economy needs, such as teachers, nurses and other key-workers, cannot afford to live in the city and are forced to move increasingly further out into places like the new Northstowe town.
"This is economically unsustainable as the city will struggle to cope with them pouring into work in the city each day.
"We are seriously behind the very modest target of 12,500 new homes by 2021 and significantly behind the Government's desired total of 19,500.
"We need to get a move on with our major housing projects, such as the Niab site, off Huntingdon Road, and other big developments in South Cambs."
The £68 a day rise throughout 2007 meant average house prices increased by almost £25,000 - with many people earning more from their homes than from their jobs.
It follows a rise of £99 a day last year, which saw average house prices rise from £243,915 to £280,079 in 2006.
But Martin Walshe, residential director at Cambridge estate agents Cheffins, said: "These reports can often be misleading because the market is very fragmented.
"Certain parts of the market went up by large amounts, while others saw very little change.
"Homes in Newnham costing between £500,000 and £1 million were largely unaffected by interest rate rises because the sales were done in cash, without mortgage. These prime spots continued to rise sharply.
"But the middle sector between £200,000 and £500,000 saw a marked downturn after the introduction of Home Information Packs and the interest rises in the middle of the year. These big differences can distort the real picture - not everyone will experience such rises.
"We've had a surprisingly successful December and it seems confidence is creeping back in the market for 2008.
"With forecasts of further interest rate cuts, I think we could have another strong year. However, it will be good if prices remain stable for a while."
A survey by Nationwide showed average house prices stood at a £306,134 at the end of 2007 - a nine per cent rise of last year's figure of £281,227.
It means the average cost of a home is now a staggering ELEVEN times the average national wage of £27,146 - making it virtually impossible for thousands of first-time buyers to get a foot on the housing ladder.
Only Belfast, Oxford, London, Brighton and St Albans were a more costly place to buy than Cambridge - with the Northern Irish capital seeing the fastest house price rises of £200 a day.
While rocketing prices are good news for some city residents, there are fears that rampant house inflation is damaging Cambridge, turning it into a society of the haves and have-nots.
Shop manager Emily Leslie (24), who rents a house with friends in Victoria Park, Cambridge, was dismayed to hear prices had continued to soar.
She said: "It's quite disheartening because I was starting to think about buying a home, but it's just too expensive.
"The only way I could afford to buy somewhere is by clubbing together with friends. My housemates and I talked about it, but the financial burden was still too heavy for somewhere in central Cambridge.
"It is definitely driving people away from Cambridge. They might come back from London once they've made some money, but is it a good thing for the city to lose so many young people?
"It seems that all people in their 20s and 30s in Cambridge are renting, which just means you are throwing your money away. But what else can you do?"
Coun John Hipkin, former Mayor of Cambridge, also believes the price rises are harming the region.
He said: "House prices are far too high.
"All the people that a successful economy needs, such as teachers, nurses and other key-workers, cannot afford to live in the city and are forced to move increasingly further out into places like the new Northstowe town.
"This is economically unsustainable as the city will struggle to cope with them pouring into work in the city each day.
"We are seriously behind the very modest target of 12,500 new homes by 2021 and significantly behind the Government's desired total of 19,500.
"We need to get a move on with our major housing projects, such as the Niab site, off Huntingdon Road, and other big developments in South Cambs."
The £68 a day rise throughout 2007 meant average house prices increased by almost £25,000 - with many people earning more from their homes than from their jobs.
It follows a rise of £99 a day last year, which saw average house prices rise from £243,915 to £280,079 in 2006.
But Martin Walshe, residential director at Cambridge estate agents Cheffins, said: "These reports can often be misleading because the market is very fragmented.
"Certain parts of the market went up by large amounts, while others saw very little change.
"Homes in Newnham costing between £500,000 and £1 million were largely unaffected by interest rate rises because the sales were done in cash, without mortgage. These prime spots continued to rise sharply.
"But the middle sector between £200,000 and £500,000 saw a marked downturn after the introduction of Home Information Packs and the interest rises in the middle of the year. These big differences can distort the real picture - not everyone will experience such rises.
"We've had a surprisingly successful December and it seems confidence is creeping back in the market for 2008.
"With forecasts of further interest rate cuts, I think we could have another strong year. However, it will be good if prices remain stable for a while."
Great idea to have a Cambridge thread. I doubt any of the bourgeois home owners or local council in Cambridge are worried in the slightest about a potential dwindling of the young local population in the city however. Cambridge have a fresh influx of students every year, many with wealthy parents ready to invest in the property market, grabbing the type of property normally attractive to first time buyers, so there's probably less chance of a market crash here in my view.
I'm originally from Durham, which follows a similar, if slightly less fierce model to Cambridge, a relatively small city centre with a high proportion of students. The locals found themselves pushed out to the fringes of the city, just like Cambridge, however Durham does not suffer from the 'South Cambridgeshire' effect where city types transform into country lovers and push up house prices further, so even moving to the fringes of town is problematic down here. That's unless you want to risk life and limb commuting on the A14 every day during peak rush hour or worse still, live in Hertfordshire (Royston for example!).
My husband works on the Science Park near Milton and as we'll be parents this year, had contemplated moving closer to his work to reduce the commute, but even rental prices are extortionate if you want anything other than a 1 bed flat...
I'm originally from Durham, which follows a similar, if slightly less fierce model to Cambridge, a relatively small city centre with a high proportion of students. The locals found themselves pushed out to the fringes of the city, just like Cambridge, however Durham does not suffer from the 'South Cambridgeshire' effect where city types transform into country lovers and push up house prices further, so even moving to the fringes of town is problematic down here. That's unless you want to risk life and limb commuting on the A14 every day during peak rush hour or worse still, live in Hertfordshire (Royston for example!).
My husband works on the Science Park near Milton and as we'll be parents this year, had contemplated moving closer to his work to reduce the commute, but even rental prices are extortionate if you want anything other than a 1 bed flat...
QUOTE (Janelle @ Jan 5 2008, 06:49 PM) 
Cambridge have a fresh influx of students every year, many with wealthy parents ready to invest in the property market, grabbing the type of property normally attractive to first time buyers, so there's probably less chance of a market crash here in my view.
Don't be so sure about that, Cambridge went way down in the last crash. I'm inclined to think that the parents of wealthy students amplify the effect in both directions. Something else to consider is that there's now lots of specialist student accommodation in Cambridge that didn't used to exist - and there's going to be loads more in the CB1 development too.
QUOTE (tbatst2000 @ Jan 6 2008, 10:34 AM)
Don't be so sure about that, Cambridge went way down in the last crash. I'm inclined to think that the parents of wealthy students amplify the effect in both directions. Something else to consider is that there's now lots of specialist student accommodation in Cambridge that didn't used to exist - and there's going to be loads more in the CB1 development too.
I have to agree. I watched a house in Mawson Road (CB1) through 2006/2007. It was empty the whole academic year. It had been advertised as a student shared house.
Students at the big university are almost all housed in hall, or Uni-owned properties. ARU is catching up with its own student halls (which I have the feeling are privatised) leaving less demand from students for the residential neighbourhoods.
And, as students face increasing levels of debt to get their BA(hons) from the a former Arts and Technology College, I get the impression that they are tending to go to their local uni and stay living with their parents.
And being an expensive town to live in, I would guess that ARU is going to struggle to get students from further afield.
The local free sheet dropped through my door late last week. It had an outer wrapper - A full 4 page advert from ARU trying to persuade us that it would be a really neat idea to enrol as nursing students there. A bit desparate looking, don't you think?
QUOTE (redwing @ Jan 6 2008, 08:49 PM)
A bit desparate looking, don't you think?
Yes, definitely, they borrowed big time to build all that new stuff down East Road, maybe it's catching up with them? Separately, and very childishly, do you think there's an Anglia Ruskin School of Eduction?
QUOTE (tbatst2000 @ Jan 6 2008, 09:17 PM)
Yes, definitely, they borrowed big time to build all that new stuff down East Road, maybe it's catching up with them? Separately, and very childishly, do you think there's an Anglia Ruskin School of Eduction?
Yes there is. I got my PGCE there. My employer at the time paid for it. And I no longer use it.
Frankly, I'd been teaching already for 5 years and I learnt nothing useful during my year at CCAT/AHEC/APU/ARU. It's still on my CV though.
In about 1977/78 I knew a couple who rented a house in York Street. They were about 19-22 years of age.
It was a 2-up, 2-down affair, walking along from the Newmarket Road end, it was probably one of the first 20 on the left, close to what used to then be the service entrance to the Beehive Store.
Beyond the 2-down, there was a tiny, tiny kitchen which had been added on. I only visited once. There was a tin bath on the living room wall. There was no bathroom
At the time they moved out, their landlord offered the house to them to buy. I can't remember how much, but it was £6-8,000. They declined. I remember thinking at the time I'd have bought it at that price!
To put that in persepctive, within a year or so, in my first job as a PA I was earning £3,000 (although I was the person earning the most from the others in my secretarial college class). A good Legal Secretary would expect to get £2,500/year. But remember, this was back in the days when we were properly qualified PA/Secretaries, not just people who can roughly cobble together a letter of sorts if put in front of Word!
This posting had no point other than for me to stroll down memory lane.
Thank you.
It was a 2-up, 2-down affair, walking along from the Newmarket Road end, it was probably one of the first 20 on the left, close to what used to then be the service entrance to the Beehive Store.
Beyond the 2-down, there was a tiny, tiny kitchen which had been added on. I only visited once. There was a tin bath on the living room wall. There was no bathroom
At the time they moved out, their landlord offered the house to them to buy. I can't remember how much, but it was £6-8,000. They declined. I remember thinking at the time I'd have bought it at that price!
To put that in persepctive, within a year or so, in my first job as a PA I was earning £3,000 (although I was the person earning the most from the others in my secretarial college class). A good Legal Secretary would expect to get £2,500/year. But remember, this was back in the days when we were properly qualified PA/Secretaries, not just people who can roughly cobble together a letter of sorts if put in front of Word!
This posting had no point other than for me to stroll down memory lane.
Thank you.
Just a brief annecdote for you. I was on the bus on Saturday and a little old dear (about 75) was chatting to the bus driver. She was saying how great it was that house prices were "rapidly falling" in Cambridge as she was hoping to move into the city. She mentioned that she hoped she wouldn't have to drop the price of her property too much but it would all be relative anyway.
I was just amazed to hear a little old dear talking about that.
I was just amazed to hear a little old dear talking about that.
Im not trying to make this a political issue...but I thought this was scary/amusing.
http://www.cambridgelabour.org.uk/pdfs/housingquiz.pdf
IMHO Labour dont seem to be very well placed to be pointing the finger of blame at other people when it comes to housing issues, whether its supposed to be local government or not.
http://www.cambridgelabour.org.uk/pdfs/housingquiz.pdf
IMHO Labour dont seem to be very well placed to be pointing the finger of blame at other people when it comes to housing issues, whether its supposed to be local government or not.
QUOTE (JustinC @ Jan 7 2008, 09:28 PM)
Im not trying to make this a political issue...
I don't see why not, I mean, it really _should_ be a political issue given that it's primarily political actions that have caused the problem (lack of targeting asset price inflation in the BoE rules, planning restrictions and probably a load of other stuff I've forgotten). Agreed Labour don't have a leg to stand on though - not that any of the other parties are much better in this point though.
QUOTE (tbatst2000 @ Jan 7 2008, 09:53 PM)
I don't see why not, I mean, it really _should_ be a political issue given that it's primarily political actions that have caused the problem (lack of targeting asset price inflation in the BoE rules, planning restrictions and probably a load of other stuff I've forgotten). Agreed Labour don't have a leg to stand on though - not that any of the other parties are much better in this point though.
What a bunch of A$$holes - Hipkin was being Ironic - basically saying housing had become so expensive that £300K was the affordable end of the market.
to$$ers - mid u the Lib dems are not much better.
QUOTE (ScaredEitherWay @ Jan 7 2008, 03:20 AM)
In about 1977/78 I knew a couple who rented a house in York Street. They were about 19-22 years of age.
It was a 2-up, 2-down affair, walking along from the Newmarket Road end, it was probably one of the first 20 on the left, close to what used to then be the service entrance to the Beehive Store.
Beyond the 2-down, there was a tiny, tiny kitchen which had been added on. I only visited once. There was a tin bath on the living room wall. There was no bathroom
At the time they moved out, their landlord offered the house to them to buy. I can't remember how much, but it was £6-8,000. They declined. I remember thinking at the time I'd have bought it at that price!
To put that in persepctive, within a year or so, in my first job as a PA I was earning £3,000 (although I was the person earning the most from the others in my secretarial college class). A good Legal Secretary would expect to get £2,500/year. But remember, this was back in the days when we were properly qualified PA/Secretaries, not just people who can roughly cobble together a letter of sorts if put in front of Word!
This posting had no point other than for me to stroll down memory lane.
Thank you.
It was a 2-up, 2-down affair, walking along from the Newmarket Road end, it was probably one of the first 20 on the left, close to what used to then be the service entrance to the Beehive Store.
Beyond the 2-down, there was a tiny, tiny kitchen which had been added on. I only visited once. There was a tin bath on the living room wall. There was no bathroom
At the time they moved out, their landlord offered the house to them to buy. I can't remember how much, but it was £6-8,000. They declined. I remember thinking at the time I'd have bought it at that price!
To put that in persepctive, within a year or so, in my first job as a PA I was earning £3,000 (although I was the person earning the most from the others in my secretarial college class). A good Legal Secretary would expect to get £2,500/year. But remember, this was back in the days when we were properly qualified PA/Secretaries, not just people who can roughly cobble together a letter of sorts if put in front of Word!
This posting had no point other than for me to stroll down memory lane.
Thank you.
No need to apologise ScaredEitherWay. I've spent the last 10 years living round York Street in rentals so found that very interesting. Here's a memory of mine. Back in 1998 a 2 bed maisonette in Sleaford St came on the market for £98k and we'd have loved to have bought it but it was >3x our salaries (£15k each, we were early 20s) and we had no deposit or mortgage offer. It sold in about a week. That was before prices went *really* crazy.
The New Builds really are sticking.
Take a look on Rightmove, select Cambridge and look for new homes added in the last 7 days.
Bidwells are getting desparate and have listed/relisted nearly 60 new builds in the last couple of days or so.
The bu55er is, that because newbuilds are so stupidly over-priced it's going to skew my weekly median price.
Take a look on Rightmove, select Cambridge and look for new homes added in the last 7 days.
Bidwells are getting desparate and have listed/relisted nearly 60 new builds in the last couple of days or so.
The bu55er is, that because newbuilds are so stupidly over-priced it's going to skew my weekly median price.
I'm gobsmacked by the prices of some of those properties. I really am.
Chuckled when I read this:
Is that their way of saying you don't get a roof?
Chuckled when I read this:
QUOTE
Accordia Living challenges the traditional concept of a new home with dynamic architecture, innovative apartments and townhouses designed to bring the outside into your life.
Is that their way of saying you don't get a roof?
Walking down Regent St last night I couldn't help noticing that Connells are no longer there.
Did I miss this news?
The Cambridge branch is no longer on their website. They are 'owned' I think by the Skipton BS.
Along with the empty Ellis and HAART shops on Regent St., I reckon it'll only be a few more before it starts to look like a ghost town.
Perhaps the EAs will claim they don't need High St anymore now that everything's on the interweb.
Did I miss this news?
The Cambridge branch is no longer on their website. They are 'owned' I think by the Skipton BS.
Along with the empty Ellis and HAART shops on Regent St., I reckon it'll only be a few more before it starts to look like a ghost town.
Perhaps the EAs will claim they don't need High St anymore now that everything's on the interweb.
QUOTE (redwing @ Jan 17 2008, 09:50 PM)
Walking down Regent St last night I couldn't help noticing that Connells are no longer there.
Did I miss this news?
Did I miss this news?
Yes, I posted about it just before Christmas. They've gone to Cambourne....lots of property there....
http://www.housepricecrash.co.uk/forum/ind...st&p=893014
BTW, Cambridge Evening News is changing it's tune with this article today
Property costs leave many out in the cold
http://www.cambridge-news.co.uk/cn%5Fnews%...e.asp?ID=249082
QUOTE
FIRST-TIME buyers need a household income of more than £73,000 to buy an average home in Cambridge, a new study claims.
A report from the National Housing Federation (NHF), which represents housing associations, says first-time buyers in the city "face a life on hold".
House prices in Cambridge are 10 times the average salary and 4,743 people are on the waiting list for council housing, the report says.
The NHF bases its calculation of the £73,000 income needed on a 95 per cent mortgage of 3.5 times combined salary.
But mortgage brokers and estate agents in the city do not believe the situation is that bleak. Jennifer-Rose Mitchell, of Cambridge mort-gage brokers Turney and Associates, said: "Most lenders are offering three or four times income. The clients we have are always able to get a mortgage.
"We do have quite a few first-time buyers that are quite young. Their average income tends to be £30,000 to £40,000 between them.
"That would not be for a house in the city centre. First-time buyers tend to be further out, in places like Milton or Chesterton."
Nick Redmayne, a partner at Redmayne, Arnold and Harris, thinks the recent slow-down in the market will help people struggling to get onto the housing ladder.
He said: "First-time buyers have found it tough for the last two or three years. But if prices stay stable and do not go up for a while, that will help them."
The NHF believes first-time buyers will face more hard times in future. It wants the Government to raise its targets for new homes.
Gina King, head of the group's eastern region, said: "With house prices in the region set to rise faster than anywhere else in the country over the next five years, we face an unhappy prospect of longer waiting lists, more overcrowding and more adult children unable to move away from the parental home."
However, the new study came as the Royal Institution of Chartered Surveyors reported house prices are falling at their fastest rate since the crash of the early 90s.
Mr Redmayne has seen no sign of such plunges in Cambridge.
Kim Stollard, director of operations at Cambridge Citizens' Advice Bureau, said: "The number of people walking into our bureau asking for help finding accommodation - which is not something we do - is huge. It is not just buying a house, renting is also incredibly expen-sive. What it means is you can be a single person or couple on a relatively decent wage and still be on the poverty line because your housing and living costs are so high."
A report from the National Housing Federation (NHF), which represents housing associations, says first-time buyers in the city "face a life on hold".
House prices in Cambridge are 10 times the average salary and 4,743 people are on the waiting list for council housing, the report says.
The NHF bases its calculation of the £73,000 income needed on a 95 per cent mortgage of 3.5 times combined salary.
But mortgage brokers and estate agents in the city do not believe the situation is that bleak. Jennifer-Rose Mitchell, of Cambridge mort-gage brokers Turney and Associates, said: "Most lenders are offering three or four times income. The clients we have are always able to get a mortgage.
"We do have quite a few first-time buyers that are quite young. Their average income tends to be £30,000 to £40,000 between them.
"That would not be for a house in the city centre. First-time buyers tend to be further out, in places like Milton or Chesterton."
Nick Redmayne, a partner at Redmayne, Arnold and Harris, thinks the recent slow-down in the market will help people struggling to get onto the housing ladder.
He said: "First-time buyers have found it tough for the last two or three years. But if prices stay stable and do not go up for a while, that will help them."
The NHF believes first-time buyers will face more hard times in future. It wants the Government to raise its targets for new homes.
Gina King, head of the group's eastern region, said: "With house prices in the region set to rise faster than anywhere else in the country over the next five years, we face an unhappy prospect of longer waiting lists, more overcrowding and more adult children unable to move away from the parental home."
However, the new study came as the Royal Institution of Chartered Surveyors reported house prices are falling at their fastest rate since the crash of the early 90s.
Mr Redmayne has seen no sign of such plunges in Cambridge.
Kim Stollard, director of operations at Cambridge Citizens' Advice Bureau, said: "The number of people walking into our bureau asking for help finding accommodation - which is not something we do - is huge. It is not just buying a house, renting is also incredibly expen-sive. What it means is you can be a single person or couple on a relatively decent wage and still be on the poverty line because your housing and living costs are so high."
"Gina King, head of the group's eastern region, said: "With house prices in the region set to rise faster than anywhere else in the country over the next five years, we face an unhappy prospect of longer waiting lists, more overcrowding and more adult children unable to move away from the parental home."
That's not what I'm seeing on Rightmove.
That's not what I'm seeing on Rightmove.
QUOTE
"That would not be for a house in the city centre. First-time buyers tend to be further out, in places like Milton or Chesterton."
Ah yes - like me back in 2003. Those anywhere closer are renting or old
As for Regent St, I think the number has probably halved. Pocock, Tylers, Rooke, Haart, Russell, Bairstow still there but Bush, Tucker, Connells, Ellis, Your Move, B&B have moved or gone.
I'm lacking some bear food, tasting of Cambridge reduced prices though I must admit. Any juicy examples?
Msgin's observations...
As a rightmove-a-holic. I try and limit my lookings to once a week so it stays "fresh". I was quite surprised this week in the change in the market. This is all for a radius of 0 miles in central Cambridge for 3+ bed properties.
No.1
http://www.rightmove.co.uk/viewdetails-178...11&tr_t=buy
was £389,950
then £375,000
now £365,000
backs on to Elizabeth way and another house on the same road was up for £275,000 whilst this was on at £389,950.
No.2
http://www.rightmove.co.uk/viewdetails-149...=4&tr_t=buy
Can't believe it's still there, was £795k now £650k. Still hasn't sold after being on at this price for maybe 6 months. Must be due a reduction. It basically has no garden which might be why it is sticking.
No.3
http://www.rightmove.co.uk/viewdetails-182...=6&tr_t=buy
This was on at £525k now down to £475k
No.4
http://www.rightmove.co.uk/viewdetails-178...=9&tr_t=buy
£425k down to £405k
pretty sure it's a developers jobbie.
No.5
http://www.rightmove.co.uk/viewdetails-176...14&tr_t=buy
Was on at £375k then £350k now £340k
I'm surprised about this one, I like it a lot.
These are just a very small sample and really only houses that I would consider living in and have kept an eye on (basically 3 bed+ older style properties). There must be a hell of a lot more in Central Cambridge. I also noticed a sudden rise of newly listed properties.
I hope all the links work.
As a rightmove-a-holic. I try and limit my lookings to once a week so it stays "fresh". I was quite surprised this week in the change in the market. This is all for a radius of 0 miles in central Cambridge for 3+ bed properties.
No.1
http://www.rightmove.co.uk/viewdetails-178...11&tr_t=buy
was £389,950
then £375,000
now £365,000
backs on to Elizabeth way and another house on the same road was up for £275,000 whilst this was on at £389,950.
No.2
http://www.rightmove.co.uk/viewdetails-149...=4&tr_t=buy
Can't believe it's still there, was £795k now £650k. Still hasn't sold after being on at this price for maybe 6 months. Must be due a reduction. It basically has no garden which might be why it is sticking.
No.3
http://www.rightmove.co.uk/viewdetails-182...=6&tr_t=buy
This was on at £525k now down to £475k
No.4
http://www.rightmove.co.uk/viewdetails-178...=9&tr_t=buy
£425k down to £405k
pretty sure it's a developers jobbie.
No.5
http://www.rightmove.co.uk/viewdetails-176...14&tr_t=buy
Was on at £375k then £350k now £340k
I'm surprised about this one, I like it a lot.
These are just a very small sample and really only houses that I would consider living in and have kept an eye on (basically 3 bed+ older style properties). There must be a hell of a lot more in Central Cambridge. I also noticed a sudden rise of newly listed properties.
I hope all the links work.
Nice work - there's some proof out there if you look for it then! I am interested in 3 types, probably not the 3 bedroom types although who knows
1) What I could get mortgage free - very little!
2) What is around the price I sold my house for - mixed view there at the moment but I didn't get a bad price.
3) What I can get below the £250k threshold which will be my self-imposed limit if things don't become too radical in next 2-3 years.
There are a fair few Victorian houses coming up for £250k which didn't happen too often 6 months ago, but it's still slow progress.
1) What I could get mortgage free - very little!
2) What is around the price I sold my house for - mixed view there at the moment but I didn't get a bad price.
3) What I can get below the £250k threshold which will be my self-imposed limit if things don't become too radical in next 2-3 years.
There are a fair few Victorian houses coming up for £250k which didn't happen too often 6 months ago, but it's still slow progress.
QUOTE (Tonester @ Jan 18 2008, 07:18 PM)
There are a fair few Victorian houses coming up for £250k which didn't happen too often 6 months ago, but it's still slow progress.
Agreed. I have noticed a lot more of these available. They were all £275K at the peak last spring. So asking prices are already 9% down.
That's pretty quick progress imo. We'll still have to wait at least 2 years before it's worth even starting to look at buying back in.
QUOTE (msgin @ Jan 18 2008, 06:58 PM)
Msgin's observations...
...
No.5
http://www.rightmove.co.uk/viewdetails-176...14&tr_t=buy
Was on at £375k then £350k now £340k
I'm surprised about this one, I like it a lot.
...
No.5
http://www.rightmove.co.uk/viewdetails-176...14&tr_t=buy
Was on at £375k then £350k now £340k
I'm surprised about this one, I like it a lot.
Interesting point is that now HIPS are available online you can get through the land registry copy to see that your No 5 here has a Paragon mortgage...
Here's an extract from the Halifax Regional Report:
[I did try to tab the figures to make it readable - but they get stripped out in this software]
QUOTE
Region: East Anglia
Fourth Quarter 2007
East Anglia Index (seasonally adjusted) 634.8
Quarterly Change (Q4 2007 on Q3 2007) -1.3%
Annual Change (Q4 2007 on Q4 2006) 3.9%
Standardised Average House Price in East Anglia (seasonally adjusted) £190,984.
House prices fell by -1.3% in East Anglia in Q4 2007 compared to the UK average decrease of 0.8%.
Annually, house price growth in the region is 3.9%, below the UK average of 5.2%.
The fall in house prices last quarter needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade.
Great Yarmouth recorded the biggest rise in price in the region over the past year with a 23% increase, followed by St Neots (18%) and Huntingdon (14%).
At £190,984, the average house price in East Anglia is 3% below the UK average of £197,071.
Cambridge remains the most expensive town in the region with an average price of £296,727. Lowestoft is the most affordable town with an average house price of £155,293.
Greater London prices are now 1.6 times higher than those in East Anglia compared with 1.7 times in 2002 Q4.
David Whitehead, Regional Manager, Halifax Estate Agency, comments:
"The housing market in East Anglia has been more subdued in the second half of 2007. Annual house price growth in East Anglia, at 3.9%, is below the UK average of 5.2%.
In the past quarter house prices fell by 1.3%. However, this needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade.
The average house price in East Anglia now stands at £190,984, 3% below the UK average of £197,071.
"The biggest rise in average house price over the past year was in Great Yarmouth, which saw an increase of 23% to £167,847. This was followed by St Neots with a rise of 18% to £243,218.
"After Cambridge (£296,727), Sudbury (£260,651) is the most expensive town in the region. Lowestoft is the most affordable town (£155,293), followed by Wisbech (£157,892)."
AVERAGE HOUSE PRICES IN THE EAST ANGLIA (ALL PROPERTIES)
Prices shown in the tables below are arithmetic average prices of houses on which an offer of mortgage has been granted. These prices are not standardised and therefore can be affected by changes in the sample from quarter to quarter. Figures include properties sold for £1 million plus.
POST TOWN AVERAGE HOUSE PRICE - £ 2006 AVERAGE HOUSE PRICE - £ 2007* %
Brandon 173,919 173,793 0%
Bury St Edmunds 223,430 241,358 8%
Cambridge 261,510 296,727 13%
Dereham 164,776 181,003 10%
Diss 194,806 218,139 12%
Ely 195,228 217,423 11%
Great Yarmouth 136,775 167,847 23%
Huntingdon 210,536 239,399 14%
Ipswich 181,362 202,781 12%
Lowestoft 142,901 155,293 9%
Norwich 180,986 200,752 11%
Peterborough 166,365 183,627 10%
St Neots 206,436 243,218 18%
Sudbury 244,488 260,651 7%
Thetford 158,968 174,202 10%
Wisbech 156,578 157,892 1%
* 12 months to November.
Over the last ten years Flats and Maisonettes in East Anglia have both seen the strongest price growth of 267% from £38,141 in Q4 1997 to £140,114 in Q4 2007.
East Anglia 1997-Q4(£) 2007-Q4(£) 1997 Q4–2007 Q4 Average Annual
% Change Bungalows 63,875 204,089 220% Detached 96,712 303,682 214% Flat & Mais. 38,141 140,114 267% Semi-Detached 58,262 190,044 226% Terraced 48,917 163,391 234%
Annual Average Earnings £ April East Anglia UK
2005 34,506 31,485
2006 36,163 32,774
2007 35,985 33,736
Source: ONS Annual Survey of Hours and Earnings: Full-time males on adult rates, who have been in the same job for more than a year. Mean annual average earnings.
Fourth Quarter 2007
East Anglia Index (seasonally adjusted) 634.8
Quarterly Change (Q4 2007 on Q3 2007) -1.3%
Annual Change (Q4 2007 on Q4 2006) 3.9%
Standardised Average House Price in East Anglia (seasonally adjusted) £190,984.
House prices fell by -1.3% in East Anglia in Q4 2007 compared to the UK average decrease of 0.8%.
Annually, house price growth in the region is 3.9%, below the UK average of 5.2%.
The fall in house prices last quarter needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade.
Great Yarmouth recorded the biggest rise in price in the region over the past year with a 23% increase, followed by St Neots (18%) and Huntingdon (14%).
At £190,984, the average house price in East Anglia is 3% below the UK average of £197,071.
Cambridge remains the most expensive town in the region with an average price of £296,727. Lowestoft is the most affordable town with an average house price of £155,293.
Greater London prices are now 1.6 times higher than those in East Anglia compared with 1.7 times in 2002 Q4.
David Whitehead, Regional Manager, Halifax Estate Agency, comments:
"The housing market in East Anglia has been more subdued in the second half of 2007. Annual house price growth in East Anglia, at 3.9%, is below the UK average of 5.2%.
In the past quarter house prices fell by 1.3%. However, this needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade.
The average house price in East Anglia now stands at £190,984, 3% below the UK average of £197,071.
"The biggest rise in average house price over the past year was in Great Yarmouth, which saw an increase of 23% to £167,847. This was followed by St Neots with a rise of 18% to £243,218.
"After Cambridge (£296,727), Sudbury (£260,651) is the most expensive town in the region. Lowestoft is the most affordable town (£155,293), followed by Wisbech (£157,892)."
AVERAGE HOUSE PRICES IN THE EAST ANGLIA (ALL PROPERTIES)
Prices shown in the tables below are arithmetic average prices of houses on which an offer of mortgage has been granted. These prices are not standardised and therefore can be affected by changes in the sample from quarter to quarter. Figures include properties sold for £1 million plus.
POST TOWN AVERAGE HOUSE PRICE - £ 2006 AVERAGE HOUSE PRICE - £ 2007* %
Brandon 173,919 173,793 0%
Bury St Edmunds 223,430 241,358 8%
Cambridge 261,510 296,727 13%
Dereham 164,776 181,003 10%
Diss 194,806 218,139 12%
Ely 195,228 217,423 11%
Great Yarmouth 136,775 167,847 23%
Huntingdon 210,536 239,399 14%
Ipswich 181,362 202,781 12%
Lowestoft 142,901 155,293 9%
Norwich 180,986 200,752 11%
Peterborough 166,365 183,627 10%
St Neots 206,436 243,218 18%
Sudbury 244,488 260,651 7%
Thetford 158,968 174,202 10%
Wisbech 156,578 157,892 1%
* 12 months to November.
Over the last ten years Flats and Maisonettes in East Anglia have both seen the strongest price growth of 267% from £38,141 in Q4 1997 to £140,114 in Q4 2007.
East Anglia 1997-Q4(£) 2007-Q4(£) 1997 Q4–2007 Q4 Average Annual
% Change Bungalows 63,875 204,089 220% Detached 96,712 303,682 214% Flat & Mais. 38,141 140,114 267% Semi-Detached 58,262 190,044 226% Terraced 48,917 163,391 234%
Annual Average Earnings £ April East Anglia UK
2005 34,506 31,485
2006 36,163 32,774
2007 35,985 33,736
Source: ONS Annual Survey of Hours and Earnings: Full-time males on adult rates, who have been in the same job for more than a year. Mean annual average earnings.
[I did try to tab the figures to make it readable - but they get stripped out in this software]
Also looked at Msgin's No. 5. Nice house. Saw an interesting house in Somersham - reduced by 50 grand!
QUOTE (Tonester @ Jan 18 2008, 11:46 AM)
I'm lacking some bear food, tasting of Cambridge reduced prices though I must admit. Any juicy examples?
Here you go Tone.
Two Bed Terrace for £200k
Get in quick before the auction.
It's empty, and doesn't look that badly done up. And you can put a couple of immigrants (or students) in the self-contained annex.
QUOTE (ROC @ Jan 19 2008, 02:31 PM)
Interesting point is that now HIPS are available online you can get through the land registry copy to see that your No 5 here has a Paragon mortgage...
Good skills ROC, and welcome.
QUOTE (redwing @ Jan 19 2008, 11:45 PM)
Here you go Tone.
Two Bed Terrace for £200k
Get in quick before the auction.
It's empty, and doesn't look that badly done up. And you can put a couple of immigrants (or students) in the self-contained annex.
Two Bed Terrace for £200k
Get in quick before the auction.
It's empty, and doesn't look that badly done up. And you can put a couple of immigrants (or students) in the self-contained annex.
Looking at the dimensions - is it an annex... or a shed?
today's evening news
The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data.
The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data.
I loved the below:
"Long-term predictions suggest prices will continue to rise. Estimates from the National Housing Federation suggest that average house prices in East Anglia may rise to as much as £340,200 by 2012 - a rise of 52 per cent on current levels."
Oh and:
"However, this is not a matter of great concern - it is a natural process of finding a comfortable level."
You mean reducing the price then?
They're really pushing the VI spin at the moment in Cambridge!
"Long-term predictions suggest prices will continue to rise. Estimates from the National Housing Federation suggest that average house prices in East Anglia may rise to as much as £340,200 by 2012 - a rise of 52 per cent on current levels."
Oh and:
"However, this is not a matter of great concern - it is a natural process of finding a comfortable level."
You mean reducing the price then?
They're really pushing the VI spin at the moment in Cambridge!
Have you seen the latest Rightmove stats? - there's a link from the news blog.
East Anglia
Avg. Price Jan 08 £216,229
Avg. Price Dec 07 £221,931
Monthly Change -2.6%
Avg. Price Jan 07 £217,354
Annual Change -0.5%
Annual Change in East Anglia is now YoY negative.
That's the most forward of the indices - asking prices rather than agreements or completions.
East Anglia
Avg. Price Jan 08 £216,229
Avg. Price Dec 07 £221,931
Monthly Change -2.6%
Avg. Price Jan 07 £217,354
Annual Change -0.5%
Annual Change in East Anglia is now YoY negative.
That's the most forward of the indices - asking prices rather than agreements or completions.
Anybody know what the Cambridge %YoY is?
QUOTE (tbatst2000 @ Jan 21 2008, 11:03 AM)
today's evening news
The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data.
The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data.
If you look on Nethouseprices - Gilmour Road, Cambridge
http://www.nethouseprices.com/index.php?co...mp;pcsaCode=CB2
(hope the link works) Edit :- no it doesn't
the highest selling price for that road within Brooklands ave is £775,000 in 2006. Makes me furious to see them trying to sell them at £910,000. I am assuming it is for the same house type.
Would really love to go into their and see how low they would go on those properties.
They started selling them in 2005.
QUOTE (msgin @ Jan 21 2008, 07:55 PM)
the highest selling price for that road within Brooklands ave is £775,000 in 2006. Makes me furious to see them trying to sell them at £910,000. I am assuming it is for the same house type.
I think there's a number of other roads in the same development aren't there? It's a real pain that the online house price stuff won't just give you all houses within, say, 400 yards of a given postcode. I recall stuff being advertised for around 1M there a year or so back so I'm guessing some went for a bit more than 775 although I could well be wrong.
QUOTE (msgin @ Jan 21 2008, 07:55 PM)
Would really love to go into their and see how low they would go on those properties.
Don't forget to take a voice recorder of some sort so we can all hear it!
QUOTE (tbatst2000 @ Jan 22 2008, 10:34 AM)
It's a real pain that the online house price stuff won't just give you all houses within, say, 400 yards of a given postcode.
Using http://www.ourproperty.co.uk/ you can search for houses within 150m, 300m or 500m of a postcode.
QUOTE (tbatst2000 @ Jan 21 2008, 11:03 AM)
today's evening news
The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data.
The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data.
Once it's off the front page the link needs to change I think...
http://www.cambridge-news.co.uk/cn_news_ca...e.asp?id=250269
Finally I feel motivated to contribute:
58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000
house are particuarly welcome!
58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000
house are particuarly welcome!
QUOTE (Zippy @ Jan 23 2008, 09:20 AM)
Finally I feel motivated to contribute:
58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000 house are particuarly welcome!
58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000
house are particuarly welcome!Hi Zippy and welcome to HPC and the Cambridge discussion. I look forward to hearing more from you.
QUOTE (King Of Fools @ Jan 22 2008, 10:49 AM)
Using http://www.ourproperty.co.uk/ you can search for houses within 150m, 300m or 500m of a postcode.
Aha, thanks! Using that, here's the more expensive stuff on the same site sold previously.
Driving past there, the newer stuff doesn't look much different though so maybe they've cut prices back already?
edited:typo in link
QUOTE (Zippy @ Jan 23 2008, 09:20 AM)
Finally I feel motivated to contribute:
58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000 house are particuarly welcome!
58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000
house are particuarly welcome!Yep, I've just checked myself. They are going wild with the new build promotion. Cambridge for sale is now up to 723 or which about 200 are new build.
Who say's there's a shortage of houses?
And I've found a bug in RM software. When searching for New Homes Only it yields an infinite number (I gave up at 2,400 houses).
We have a winner!!!
http://www.rightmove.co.uk/viewdetails-999...=2&tr_t=buy
Tis the turd of the year!
http://www.rightmove.co.uk/viewdetails-999...=2&tr_t=buy
Tis the turd of the year!
Seriously though - Rightmove is going to shoot up 10% next month on this basis?
QUOTE (redwing @ Jan 23 2008, 01:19 PM)
Yep, I've just checked myself. They are going wild with the new build promotion. Cambridge for sale is now up to 723 or which about 200 are new build.
Who say's there's a shortage of houses?
And I've found a bug in RM software. When searching for New Homes Only it yields an infinite number (I gave up at 2,400 houses).
Who say's there's a shortage of houses?
And I've found a bug in RM software. When searching for New Homes Only it yields an infinite number (I gave up at 2,400 houses).
Nope - i think that's Arbury Park....
Had to bite my tongue when I was speaking to someone who'd bought a new 4 bed terrace townhouse in the new Arbury council estate complex for almost £300k.
QUOTE (Tonester @ Jan 23 2008, 01:48 PM)
We have a winner!!!
http://www.rightmove.co.uk/viewdetails-999...=2&tr_t=buy
Tis the turd of the year!
http://www.rightmove.co.uk/viewdetails-999...=2&tr_t=buy
Tis the turd of the year!
It's leaning. I think it's sinking on one side into the flood plain. Reminds me of Pisa.
QUOTE (Tonester @ Jan 23 2008, 03:56 PM)
Had to bite my tongue when I was speaking to someone who'd bought a new 4 bed terrace townhouse in the new Arbury council estate complex for almost £300k.
300k to live in Arbury?!
QUOTE (Bug16 @ Jan 23 2008, 04:04 PM)
300k to live in Arbury?!
It's utterly bizarre isn't it? The strangest thing is that you can still buy something around the same size in a nice bit of Cambridge for that amount of money.
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