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What’s now & what’s next for the Cambridge property market? WHILE THE ECONOMY IS A KEY CONCERN FOR MANY BUYERS AND SELLERS, OUR HOUSING MARKET REMAINS ROBUST THANKS TO ITS SOLID FOUNDATIONS
WORDS BY NICOLA FOLEY
“While interest rates and the cost-of- living crisis have dominated headlines for weeks, Cambridge and the surrounding area is still seeing a massive imbalance between supply and demand,” he reasons. “This has meant well-marketed and correctly priced properties are still seeing strong levels of viewings and multiple offers in most scenarios. Demand is consistently from London commuters, professionals working in Cambridge or throughout the Silicon Fen – and also those who have moved to the area for lifestyle reasons. “We have an affluent local population, which upsizes and downsizes regularly, ensuring that the property market continues to tick over steadily, while the influx of buyers from farther afield since Covid has helped to underpin house price growth throughout the region. We
fter the boom of the past year and a half – which saw the generally buoyant Cambridge property
© CHEFFINS
market reach unprecedented new heights – the question of what comes next looms large for anyone hoping to buy or sell a home here. For the country as a whole, rising interest, surging inflation, the cost-of- living crisis and a threat of recession have created anticipation of a major downturn – but what’s the mood here in Cambridge? Traditionally, our city has weathered such storms well, thanks to its evergreen desirability, well-off population, proximity to London and thriving jobs market; but do we also need to brace for impact? Perhaps not, says Richard Freshwater, director of Cheffins, who describes the current market as ‘robust’.
UPSIZE, DOWNSIZE The affluent local population has long helped the housing market remain buoyant, even in times of economic uncertainty
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