Archives for the month of: June, 2013

It looks like AstraZeneca has chosen the Cambridge Biomedical Campus, next to Addenbrooke’s Hospital, as its new $500 million global headquarters and centre of drug research. Property industry sources told Reuters last month that this was the most likely site for the new centre, which will house some 2,000 employees – a decision confirmed by AstraZeneca CEO Pascal Soriot .

Cambridge Home Search, finding the best houses on and off the market

Cambridge has overtaken London as the UK’s most expensive student city.  According to a study from estate agent haart, privately renting students in Cambridge are now paying an average of £97.25 per week, 79% more than students in the least expensive city, Liverpool (£54.25).  The research looked at the Russell Group of 24 universities and placed Cambridge and Bristol ahead of London.

Cambridge Home Search, finding the best houses on and off the market

The latest figures from cambridgehouseprices.co.uk show a 0.9% rise in Cambridge property prices over the past year coupled with a 4.2% reduction in the number of properties sold. Such figures suggest a rather sluggish, flat property market. Our experience suggests a very different picture for prime Cambridge property. The key statistic may well be the low numbers of properties being sold, with buyers finding themselves in fierce competition with lots of other cash purchasers.

Open house viewings are commonplace in central Cambridge and well attended. Last month Cheffins ran three open events on the same Saturday morning for houses in Glisson Road, Panton Street and Bateman Street (all within 500 metres of each other). Savills have two coming up this weekend, one in Earl Street and the other in Panton Street. Many houses at the top end of the market are going to ‘Best and final offers’ attracting multiple bidders, many who do not need to sell their house.

Not surprisingly, such competition is resulting in many houses ending up some way above the guide price.

Cambridge Home Search, finding the best houses on and off the market