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What’s next for the Cambridge property market? PROPERTY AFTER A YEAR LIKE NO OTHER IN 2021, EDITION SPEAKS TO LOCAL EXPERTS TO GET THE INSIDE TRACK ON WHAT WE CAN EXPECT IN THE MONTHS AHEAD
WORDS BY NICOLA FOLEY
is the season for house-hunting, according to Rightmove, which claims the number of people browsing properties on the
thing is certain: that 2021 was unlike anything local agents have seen before. “We witnessed the biggest lack of available houses on the market for at least the past 20 years, with huge demand levels, created by the perfect storm of low interest rates, the stamp duty holiday and changes in people’s working patterns,” comments Richard Freshwater, director of Cheffins. “Places such as Cambridge and the surrounding villages have enjoyed floods of new buyers, with every property which hits the market seeing around 40 requests for viewings. Competition has been fierce throughout the year, and sealed bids quickly became the order of the day.” Many expected, as the government’s stamp duty holiday drew to an end, that the market would quieten, but that hasn’t come to pass, says Richard. “In reality,
site during the post-Christmas period has been on the rise every year. In fact, 2020’s Boxing Day saw a whopping 54% increase on 2019, with another impressive jump expected to be reported this January. In preparation for this wave of would-be buyers, agents report that homeowners are busily sprucing up their properties and requesting valuations, ready to capitalise on the building momentum. As we enter a new year in the Cambridge property market, many will be wondering if the unprecedented boom of the past 12 months can continue, whether things will plateau, or indeed if – deep breath – we’re heading for a crash. One
BOOMTOWN The stamp duty holiday, coupled with a lack of available housing and low interest rates, created a perfect storm in Cambridge’s property market during 2021. Local agents expect a calmer feel over the next few months
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