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There is no doubt that residential properties are in short supply in and around Cambridge. Martin Walshe FNAEA, Cheffins Director, says: “Demand is fed by local people relocating or downsizing, incomers taking up jobs at places like the Science Park and Addenbrooke’s, and Londoners selling up for a better quality of life, a much bigger property and access to top class education facilities.”
As a result, Cheffins has enjoyed its best ever half year and is on course for a dynamic 2010. But it means long hours and hard work, both to secure instructions and to market properties to their best advantage. Martin explains: “We are flat out, seven days a week – we are unique in that it is our full time professional staff in the office on Sundays, not temps drafted in for the day. And it is clear we are outselling our competitors.”
Recent sales have shown how strong the market is – a property in Kimberley Road at £595,000 quickly attracted 20 viewings, several offers and sold significantly over that guide price. In fact, Martin estimates that more than 25% of Cambridge properties marketed by Cheffins attract such intense competition that guide prices are exceeded.
Kimberley Road property attracted competitive bids.
He strongly believes that a seller’s choice of agent is crucial to a successful sale. “Properties don’t just sell themselves. Careful preparation and presentation are vital in achieving the best outcome for a client. Marketing and a high degree of service are the cornerstones of Cheffins’ success. For example, higher value properties are initially marketed to the London market before being advertised locally. This ensures that potential London buyers can compete in the same timeframe with local buyers.”
Martin Walshe emphasises the importance of the London market. “The top end of that market is being fuelled by overseas buyers, and a Londoner selling a two or three bedroom apartment for one and a quarter million pounds can acquire a splendid house in Cambridge within cycling distance of some of the best schools in the country. A property of this type is just coming onto the market in Luard Road, off Hills Road. An Edwardian villa, it is priced at £1,450,000, with extensive grounds, backing onto the Perse School and a couple of minutes by bike from Hills Road Sixth Form College.”
To attract more Londoner purchasers, Cheffins is participating in the ‘Move to the Country Show’ in Chelsea on 27 April, which is sponsored by Country Life magazine and supported by some 25 estate agents from across Britain. A major publicity campaign is planned in London and Cheffins will be showcasing their clients’ properties at the Show for the fourth year running.
Luard Road property is well located for top schools.
And the outlook for 2010? Martin says: “Cambridge holds a unique position. It is an international trading address as well as a centre of scientific excellence. High level jobs are constantly on the increase and the multi-layered local economy has made the area very resilient in the current conditions – and this means that demand will continue to be strong throughout 2010 but that doesn’t make for an easy life as a selling agent!”
Newmarket Experiences the Thaw
The snow-bound roads held back the local residential market in January, reports Neil Harris FRICS FNAEA, Director of Cheffins’ Newmarket Office, but once the thaw arrived the phones began to ring again with viewings and valuations reaching normal levels.
Keenly priced property and properties slightly different to the norm generate the greatest interest. For example, a period cottage in Ashley at £340,000 received significant interest resulting in a sale within five days and a five bed former NHS care home with residential use sold for more than its guide of £285,000.
Modern properties in plentiful supply on the larger developments, however, have to be correctly priced to stand a chance of selling.
Neil says: “We are busy listing new instructions across a complete price range with a number of interesting properties coming to market. An individual barn style property has just been listed in Isleham at £499,999 offering four bedrooms and three bathrooms and we are marketing a three bedroom Georgian cottage in Dullingham with a large garden at £250,000.
“Our prediction for Newmarket in 2010 is a stable housing market with a gradual increase in the volume of property coming to market. Prices will probably remain flat as buyers adopt a cautious approach due to the uncertainties of the impending General Election, lenders restricting the supply of money and the possibility of higher interest rates in 2011.”
Ely Up 100 Per Cent
For the first five weeks of 2010, sales at Cheffins Ely Office were up by around 100% on the same period in 2009 reports Mark Peck, Director.
Buyers are coming from a wide variety of locations, but it is noticeable that local movement dominates. Some 30% of buyers come from Ely city, 23% from nearby villages, and 10% come from Cambridge or a nearby Cambridge village. The remaining 37% are from a wide range of locations including 5% from London and other towns as far as Manchester, Cumbria, Market Harborough, Ingatestone, and one from France (English people moving back).
Mark adds: “This upsurge in sales is reflected in the high level traffic to our newly redesigned website.“
For further information about residential property for sale or to let please contact the appropriate office below:
Cheffins' Residential Sales Soar
There is no doubt that residential properties are in short supply in and around Cambridge. Martin Walshe FNAEA, Cheffins Director, says: “Demand is fed by local people relocating or downsizing, incomers taking up jobs at places like the Science Park and Addenbrooke’s, and Londoners selling up for a better quality of life, a much bigger property and access to top class education facilities.” As a result, Cheffins has enjoyed its best ever half year and is on course for a dynamic 2010. But it means long hours and hard work, both to secure instructions and to market properties to their best advantage. Martin explains: “We are flat out, seven days a week – we are unique in that it is our full time professional staff in the office on Sundays, not temps drafted in for the day. And it is clear we are outselling our competitors.”
Recent sales have shown how strong the market is – a property in Kimberley Road at £595,000 quickly attracted 20 viewings, several offers and sold significantly over that guide price. In fact, Martin estimates that more than 25% of Cambridge properties marketed by Cheffins attract such intense competition that guide prices are exceeded.
Kimberley Road property attracted competitive bids.
He strongly believes that a seller’s choice of agent is crucial to a successful sale. “Properties don’t just sell themselves. Careful preparation and presentation are vital in achieving the best outcome for a client. Marketing and a high degree of service are the cornerstones of Cheffins’ success. For example, higher value properties are initially marketed to the London market before being advertised locally. This ensures that potential London buyers can compete in the same timeframe with local buyers.”
Martin Walshe emphasises the importance of the London market. “The top end of that market is being fuelled by overseas buyers, and a Londoner selling a two or three bedroom apartment for one and a quarter million pounds can acquire a splendid house in Cambridge within cycling distance of some of the best schools in the country. A property of this type is just coming onto the market in Luard Road, off Hills Road. An Edwardian villa, it is priced at £1,450,000, with extensive grounds, backing onto the Perse School and a couple of minutes by bike from Hills Road Sixth Form College.”
To attract more Londoner purchasers, Cheffins is participating in the ‘Move to the Country Show’ in Chelsea on 27 April, which is sponsored by Country Life magazine and supported by some 25 estate agents from across Britain. A major publicity campaign is planned in London and Cheffins will be showcasing their clients’ properties at the Show for the fourth year running.
Luard Road property is well located for top schools.
And the outlook for 2010? Martin says: “Cambridge holds a unique position. It is an international trading address as well as a centre of scientific excellence. High level jobs are constantly on the increase and the multi-layered local economy has made the area very resilient in the current conditions – and this means that demand will continue to be strong throughout 2010 but that doesn’t make for an easy life as a selling agent!”
Newmarket Experiences the Thaw
The snow-bound roads held back the local residential market in January, reports Neil Harris FRICS FNAEA, Director of Cheffins’ Newmarket Office, but once the thaw arrived the phones began to ring again with viewings and valuations reaching normal levels. Keenly priced property and properties slightly different to the norm generate the greatest interest. For example, a period cottage in Ashley at £340,000 received significant interest resulting in a sale within five days and a five bed former NHS care home with residential use sold for more than its guide of £285,000.
Modern properties in plentiful supply on the larger developments, however, have to be correctly priced to stand a chance of selling.
Neil says: “We are busy listing new instructions across a complete price range with a number of interesting properties coming to market. An individual barn style property has just been listed in Isleham at £499,999 offering four bedrooms and three bathrooms and we are marketing a three bedroom Georgian cottage in Dullingham with a large garden at £250,000.
“Our prediction for Newmarket in 2010 is a stable housing market with a gradual increase in the volume of property coming to market. Prices will probably remain flat as buyers adopt a cautious approach due to the uncertainties of the impending General Election, lenders restricting the supply of money and the possibility of higher interest rates in 2011.”
Ely Up 100 Per Cent
For the first five weeks of 2010, sales at Cheffins Ely Office were up by around 100% on the same period in 2009 reports Mark Peck, Director. Buyers are coming from a wide variety of locations, but it is noticeable that local movement dominates. Some 30% of buyers come from Ely city, 23% from nearby villages, and 10% come from Cambridge or a nearby Cambridge village. The remaining 37% are from a wide range of locations including 5% from London and other towns as far as Manchester, Cumbria, Market Harborough, Ingatestone, and one from France (English people moving back).
Mark adds: “This upsurge in sales is reflected in the high level traffic to our newly redesigned website.“
For further information about residential property for sale or to let please contact the appropriate office below:
- Cambridge: 01223 214214
- Ely: 01353 654900
- Haverhill: 01440 707076
- Newmarket: 01638 663228
- Saffron Walden: 01799 523656
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