Good news for buyers
After being pipped to the post by Oxford as the best university, there is another blow for Cambridge: its house price growth has stalled.
Growth in house prices in the city has decelerated at the fastest rate in the country, from 16pc year-on-year in March to just 6pc in August, according to Hometrack. This is due to a squeeze on affordability and dampened investor appetite.
Its index found that the average rate of house price growth across UK cities eased off to 8.2pc, led by a slowdown among southern cities, such as Bournemouth and Oxford. The quarterly growth rate was 1.9pc, the lowest for six months, as momentum stalled due to uncertainty after the referendum and the continuing impact of stamp duty changes.
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House price growth across the 20 biggest UK cities. Hometrack cities index
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"Cambridge has been a fantastic place to have bought a buy to let during the past 10 years” Trevor Hames
Cambridge, property hotspot of the decade: Asking prices explode by 75% over the past ten years with average home now costing £463,000
- The average asking price for a house in Cambridge in 2006 was £264,227
- That has now shot up by a staggering 75.3% to £463,093 in just 10 years
Cambridge has topped a list of property hotspots where asking prices have exploded by 75% in just a decade.
The famous university city leads a league of UK areas outside London where people are desperate to live.
In 2006 the average asking price for a pad in the city famous for its boating and being the former home of film director Richard Attenborough was £264,227.
In just ten years that has shot up by a staggering 75.3% to £463,093.
Daily Mail 27 April 2017 - Read More
