What comes to mind when you think of Cambridge? Most likely a picturesque City steeped in history and known for its architecture, University and Colleges. It is one of the most important high-tech centres in the world and is the home of Addenbrooke’s, an internationally renowned research hospital. All in all, a City that is known for its highly educated student population and professional workforce.
However for many buyers wanting to secure their next home in the city the property market remains vibrant and competitive for the best homes, spurred on by its numerous attractions.
Cambridge offers a wide variety of good primary and secondary schools, both within private and state education, such as the Hills Road Sixth Form College which is consistently ranked among the top three state sixth form colleges in the UK. As a result, limited stock in the catchment areas for state schools and surrounding the private schools, in conjunction with the growing number of people desperate to buy in these areas, can hugely inflate property prices in Cambridgeshire.
In addition to excellent educational facilities, easy access into London makes the area a popular commuter’s choice. By the end of 2011, an expansion project will be complete, which will see two additional platforms in operation to allow a greater capacity to travel to and from London. This expansion will undoubtedly draw many more City workers to the area, putting greater pressure on the local property market.
With City workers and a large population of students, it makes the area a natural investor’s choice in residential property.
The Cambridgeshire area also has excellent local amenities, with a City airport as well as Stansted nearby and offers an excellent quality of life, with winding rivers for punting and expansive countryside on the City’s doorstep. These are the factors which put Cambridge at the top of the list of desirable locations to live within the UK – South Cambridgeshire was voted ‘best place to live in rural Britain’ according to the Rural Quality of Life Survey by the Halifax in December 2010 – and these factors combined continue to attract new residents to the City from all over the UK and the world, making Cambridge one of the most competitive property markets in Britain.