Holiday Lettings news - Cambridge makes the grade for property investors

Cambridge makes the grade for property investors

Cambridge is not only a centre of learning, but is also a city with plenty of potential for property investors, according to The Financial Times. The paper explores this "familiar historic country town" has to offer.

The UK government has earmarked the East Anglian city to provide more affordable housing as part of its efforts to remedy housing shortages in south-east England. Furthermore, according to David Henry, of estate agency Savills, the city is fast becoming the "centre of a major growth area", with a high profile both academically and commercially.

Cambridge has been gradually shifting from a sleepy backwater area to a vibrant city for the past 20 years, and property investors have much to choose from, despite limited building space; Savills estimates that more than 2,500 flats have been built, or are due to be completed in the next three years. The city's property market is also remaining buoyant despite the credit crunch. As Toby Greenhow of Savills said: "Cambridge is holding up and is fairly robust."

Developments are also springing up in the city's desirable suburbs and on former greenbelt land to cater for demand. Two such projects are the new village of Cambourne, nine miles west of Cambridge, and Northstowe, which will comprise 9,500 new homes, schools and shops on a former airbase just eight miles from the city. 40 per cent of the Northstowe properties will be marketed as affordable housing.

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