It seems not, if Rightmove stats are anything to go by – and Strutt & Parker agree that selling times are short in our booming city.
This summer, The Guardian published an article based on statistics from Rightmove claiming that Cambridge has the quickest average selling times in Britain.
Apparently the average time between a house in Cambridge first appearing on Rightmove.co.uk and being marked as sold is 27 days. This compares with a figure of 41 days on average to sell in Greater London, and an average 65 days across the UK.
Says Cameron Ewer of Strutt & Parker, Cambridge: “Whilst we have certainly witnessed some frenzied buying in the city over the last few months, this article perhaps doesn’t tell the whole story.
“I think there have been signs of a cooling in sectors of the market. I see good opportunities for those people who have been waiting to sell and move to the country/villages and I think now is the time to make these moves. With an interest rate rise on the cards and changes in mortgage regulations, as well as having seen a monumental leap in prices over the last year (which can unsettle some people), I think the rest of this year could see growth rates dip in the city and then slow further in the new year as we near the election. However, whilst the market might be cooling it is still going to continue to grow so no need to panic.”
He adds: “Following growth of 20 per cent over a 12-month period from June to June the disparity between city house prices and village/country houses is probably at its greatest point currently, but that’s far from saying that the village markets have not been growing also, as they certainly have. Therefore for those who have perhaps been holding off selling to capitalise on the city growth and then make a lifestyle change and move out to the villages and rural properties, in my opinion, there is no better time to do that than in the forthcoming months.”
