PROPERTY
On the move Local experts explain why October is still a great time to get on the property market
I t’s no secret that the residential property market in the UK has kind of property you’re trying to sell, you could be seeing slow progress… or on the other hand, if you’re a buyer or seller in a property hotspot like Cambridge, homes continue to fly off the market. “One of the fortunate things about Cambridge is the wealth of successful and growing tech businesses we have here, such as Apple, Microsoft, Arm and Darktrace. been behaving a little oddly of late. Depending on where you are and the
Cambridge is something of a bubble in that respect; there is always a good market for job movers,” affirms Adam Raker, head of sales for the Eastern region at housebuilder The Hill Group. Overall, Hill has seen a flight to quality during the past 12 months. “Fewer people
locations. We’re seeing fewer first-time buyers and investors, but a comeback in the Bank of Mum and Dad.” Senior sales valuer at estate agent Bush & Co, Paul Wellington, is seeing a similar trend. “Activity levels remain strong for well-priced homes, and especially those in prime locations,” he confirms. Downs and ups There have been several critical factors influencing the market over the past year – unsurprisingly, all economic. Changes to stamp duty that were introduced on 1 April are one of the most recent and more unwelcome of those factors. With the nil-rate band dropped to £125,000, a 2% bracket reintroduced and first-time buyer discount reduced, most buyers will now
are moving overall, but when they do move, they are looking to future-proof their purchase and buy a ‘forever home’,” says Adam. “The downsizer market is also strong, with couples moving from affluent villages into more central Cambridge One of the fortunate things about Cambridge is the wealth of successful and growing tech businesses
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