I was reading an article written by Cambridge News which reported on "Your" say on the state of the housing market and thought some of you may be interested on what was said, for once an opinion other than just mine but of course ill chip in with a opinion or two of my own ;-)
Nothing gets people British talking quite like the cost of housing, and it seems 'News' readers are no exception and in this particular article Cambridge News revealed property prices in the city had fallen for the first time in years, prompting a possible end to the city's booming market.
For some or their readers they state that this has been a long time coming, with many commenters on their website looking forward to more affordable property.
But with Cambridge still the third most expensive city in the UK in which to buy, and the average house price still close to twice the national average, many were sceptical as to whether it would really make a significant difference.
Many estate agents they spoke to said uncertainty caused by June's Brexit vote has caused problems in the city's market, but many of the online commentariat were not so sure, my opinion on this based upon actual facts is that I am not experiencing any significant changes, yes there was a few months of uncertainty but directly after I sold a 2 bedroom house with a market value of £350,000 for an astonishing £23,000 over the asking price suggesting that indeed Brexit will not be as big an influence as originally expected.
hyeresman wrote: “I would suggest this downturn is due to the 3% surcharge on second homes brought in on 1st April, Cambridge & London both being large markets for buy to let properties". - I may be inclined to agree with this however when you take into consideration that you will still be making around a 6% yield you for one will be making money whilst your property still will increase in value as prove above still making an investment in Cambridge Property a lucrative one.
One reader wrote “Strange that there is no mention of this from the 'experts', or just more biased reporting against Brexit?" - which was a prompt for me to share my thoughts with you guys, here's an expert opinion ;-)
Peck0 said: “The house prices in Cambridge were absolutely stupid and benefited only the estate and property agents...............and it's those who are up in arms now - I completely disagree with this, I have many professional tenants that are extremely happy with their accommodation, sometimes its necessary to pay a little more for those extra luxuries in life and keeping properties in great condition is what I'm all about after all we all know that 'A good property breeds a good tenant'.
“Brexit has nothing to do with it; like all 'good' things, there comes a point where it has to end and now is that time". - I'm not sure that now's the time as I believe property values will still increase for the next couple of years at least, there are still advantages in Cambridge that will help the increase for example the new train station in Chesterton making Chesterton properties a direct link to the likes of Kings Cross station in London.
totalastronom said: “Reduction of 20% is on the cards given the huge amount of new builds everywhere. - Sorry totalastronom I couldn't disagree more, I can't get enough properties to house the influx of new businesses in Cambridge and with the likes of Astrazeneca and Microsoft looking to rehouse employees into Cambridge we are going to need all the properties we can lay our hands on and in turn we will fill them with great tenants.
Another reader wrote “In my neighborhood (Castle) landlords are selling up wholesale because of the new tax arrangements that the Tories brought in to put them out of business, plus the colleges are building to achieve 100% accommodation for their students on college property" - Although colleges indeed are building on site, this is 1 something that will not happen over night and 2 I am filling my landlords properties with either family's or working professionals and I have no where near enough properties compared to the list of working professionals I have waiting so this is not a concern of mine or my landlords it simply means your properties would be filled with a better clientele.
LLoyd said: “surely that must be good thing Brexit =less immigration= less demand = realistic house prices for those that need to get on the ladder or move up it" - Cambridge is a beautiful place to live and the fact is sometimes you have to pay for what you get but rest assured that the beauty is here to stay.
opaque wrote: “Be realistic, with an average price of £404,000 unless it's a 50% reduction in price there is going to be no change most people who would like to stay in the city they were born in." To this my response is I was bourn in Cambridge and not only am I staying here, I'm offering free advise to others that want to stay here too. In content it's achievable.
hahahaha said: “i seriously hope so! stupid prices in Cambridge for a house. - hahahaha I will treat this comment with the contempt it deserves and merely ignore it?
Christine Butler said: “Can't see what the problem is .... over priced anyway due to outside interest and the properties still won't be affordable." - my response to Christine is that although I do have outside investors in Cambridge I would estimate that at least 85% of my landlords indeed lived in their properties for many years in Cambridge before either retiring to quieter villages or moving with work keeping them as investments, it's not all about outside interest.
Martin Worship replied: “They'll only go down temporarily and then just rise again. Property will always go up" - I personally don't think they will even go down". - They will steady off but I agree for now, I don't forecast any loss within Cambridge for the foreseeable future.
John Clifford Bird wrote: “Nothing to worry about, house prices go up and down like the price of gold." - Maybe we should look at building Gold houses :-)
Of course I'd be interested in your views and as always I'm here to help so if you need me simply ping me a message and I will get back to you as soon as I have chance, I'm here to help.
Contact Cambridge Property Investments Ltd ® for advise with investing in Cambridge and letting your property whilst reaching your maximum yield, We're here to help!
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