The most recent sale, of a substantial six bedroom semi-detached Edwardian house in St Barnabas Road, close to the rail station, demonstrated this trend. On the market at £1,650,000, a sale was agreed within four days at substantially over the guide price to a cash buyer from Scotland, having attracted widespread interest.
Richard said: “The nearest comparable sale to this house in St Barnabas Road took place in November 2011 at £1,277,000 – which will show around a 50 per cent increase.”
Another property showing the pull of Cambridge is 59 Barrow Road, off Trumpington Road. A substantial five bedroom detached house in a third of an acre garden, it was launched at £1,300,000 and attracted strong competition from buyers from Hong Kong, Isle of Man, London and locally. Terms were agreed with the buyer from the Isle of Man in excess of £1,500,000.
Two other Cheffins’ properties showing similar price growth are Argyle House, St Philips Road, agreed in excess of its guide price of £500,000 – far outpacing any other property sold in this location in the past two years – and Gothic House, Gwydir Street, agreed well above its guide price of £750,000.
Richard said: “Through our London Office we are able to directly channel Londoners seeking to acquire a home, with good schools close at hand and a better quality of life. At the recent Move to the Country show held in London, Cheffins attracted a significant number of potential buyers who are now viewing properties here.”
Bob Bickersteth, Director of The London Office, explained: “We are located in St James’s Street in the West End and our unique role is primarily to promote the properties and services of Cheffins, thereby reinforcing their reputation as the leading Cambridge estate agent. This helps to attract Londoners who want to relocate.”
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If you think your property deserves the “London Effect”, call Richard Freshwater on 01233 214214.
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