Carter Jonas Bradshaws discusses the benefits of countryside living
With central Cambridge becoming more crowded, increasingly expensive and hard to navigate for first-time buyers, we asked Carter Jonas Bradshaws about the advantages of life outside of the city
Cambridge continues to be a beacon for world-class organisations and has become home to one of the most talented workforces in the world. With house prices to match some of London’s most prestigious postcodes, it’s becoming more difficult for buyers to get a slice of the central Cambridge property pie.
According to a recent Lloyds Bank report, nine out of the ten most expensive streets in East Anglia are in Cambridge. First-time buyers don’t even stand a chance says Mark Wood, partner at Carter Jonas Bradshaws. “Since 2006 we’ve seen a huge decline in the number of first-time buyers able to purchase in the city. With Cambridge’s prosperity continuing to grow and driving more people to the city we have seen great economic expansion, but unfortunately it’s been at the expense of the first-time buyer.”
So what approach should first-time buyers take? Buying outside the city is the best option and swapping the busy city for the peaceful countryside can bring huge benefits. “Our first-time buyers are purchasing property outside the city in places such as Cambourne, Ely, Sawston, Hardwick and Cottenham where there are strong links to the city. There’s a better quality of life too, with plenty of open spaces and good schools.”
The picturesque market town of St Ives also holds real potential for those looking for a new home within close proximity of the city. “We’ve just launched properties on a new development called Meadow Park. Prices are very reasonable, with one-bedroom studios starting from £97,000. The average price of the same property in central Cambridge is £190,000 and the return for investors are in excess of 5.5{b486c5a37ab2d325d17e17d701cb2567b1ecd1814e8ceb33effa2a4f1f171d46}, making it a highly attractive and most importantly, affordable prospect.”
