The Local Market
For many years Cambridge has enjoyed one of the strongest residential markets anywhere in the country. There are various reasons that have contributed to both the historical and current strength of the market locally. These can be summarised at the "Cambridge Phenomenon"
The
existence of Cambridge University
Its 31 colleges, Anglia Polytechnic University, the Cambridge Regional College,
numerous other academic institutions and language schools most of which have
insufficient in-house accommodation and, who attract new students on an annual
basis, have a stabilising factor on the market locally and have contributed
enormously to its growth in recent years.
The
concentration of hi-technology business in and around Cambridge.
Since the 1960's when small factories moved to Cambridgeshire to escape London's
congestion and for the low wages and unionisation of the region through, to
the 1970's when new enterprises were formed and major transport and infrastructure
development the area has been a magnet for a variety of hi-tech businesses.
The Science Parks and the pull of the small hi-technology industry have also
helped enormously with the growth of both second-hand residential sales and
the lending market locally.
The
general mobility of the population.
The single occupancy market is largely based on a transient population of professional,
hi-tech, medical, business and academics brought to the City on short-term non-fixed
contracts, another important factor for the market locally.
Cambridge
as an established tourist destination.
Cambridge has a year-round pull for tourists and the numbers swell enormously
over the summer months.
Restrictive
planning policy.
Planning policies locally are very restrictive, suitable space within the City
limits is in short supply creating a shortage of suitable sites for residential
developments.
Local
Infrastructure
Excellent local infrastructure means Cambridge is easily accessible by road,
rail and air links.