25.07.2014
The figures published by Rightmove indicate that the housing market in the city is very healthy, as properties were taking longer – 39 days – to sell in the spring of 2013. Homes in Cambridge are currently selling much quicker than those in London, which is regarded as a fierce property market.
Sales have sped up over the past year across mainland Britain, with properties now taking an average of 65 days to sell between April and June this year, compared to 75 days over the same three-month period in 2013.
According to Nationwide, average prices are also increasing in Cambridge, with properties now valued at more than £419,000; a 20 per cent rise over the past 12 months. A number of homes in the city are selling above asking price due to high levels of demand.
Estate agents in the city believe the buoyant market is due to the constant need for student housing, the investment of science and technology firms in the area and the construction of a new £26 million train station, which will provide better transport links to London.
Next to Cambridge the two other fastest selling areas in Britain are the London boroughs of Sutton and Lewisham, with properties in these areas taking an average of 29 days to be marked as sold.
Properties In Cambridge Are Selling After An Average Of 27 Days
Cambridge has been named as the fastest moving property market in Britain, with homes being marked as sold an average of 27 days after being listed online.The figures published by Rightmove indicate that the housing market in the city is very healthy, as properties were taking longer – 39 days – to sell in the spring of 2013. Homes in Cambridge are currently selling much quicker than those in London, which is regarded as a fierce property market.
Sales have sped up over the past year across mainland Britain, with properties now taking an average of 65 days to sell between April and June this year, compared to 75 days over the same three-month period in 2013.
According to Nationwide, average prices are also increasing in Cambridge, with properties now valued at more than £419,000; a 20 per cent rise over the past 12 months. A number of homes in the city are selling above asking price due to high levels of demand.
Estate agents in the city believe the buoyant market is due to the constant need for student housing, the investment of science and technology firms in the area and the construction of a new £26 million train station, which will provide better transport links to London.
Next to Cambridge the two other fastest selling areas in Britain are the London boroughs of Sutton and Lewisham, with properties in these areas taking an average of 29 days to be marked as sold.
Expert Opinion
As the housing market picks up pace it is vital that buyers and sellers can showcase to the other parties involved in the transaction that they are in a strong position to complete the deal. <br/> <br/>"It is really important to have good communication with your legal advisors to help progress the sale. It is also vital that any requests for information from your legal team or financial advisors are dealt with quickly and professionally to prevent any delays." Helen Hutchison - Partner
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