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News release
[DATE]
Cambridge is one of Britain’s property hot spots, new research
reveals
-
Properties in city centre selling 87% faster than the national average
Two postcodes in Cambridge have been named in Britain’s top 20 property hot spots. Houses in CB1,
where the average property price is £303,201, are selling in an average of just 16 days, 110 days
faster than the national average.
Research from [ESTATE AGENT], in conjunction with Move with Us, has revealed. CB4 also featured
in the top 20 with properties selling in just 21 days. The average property price in this postcode is
lower at £279,097.
Benefits such as quick commuter times, a rich history and lots of green open spaces are cited as
reasons for speedy property sales. AstraZeneca, a leading pharmaceutical company has also moved
their headquarters to the city. Shifts from large companies like this can influence selling times as a
highly skilled workforce is attracted to the area.
Other fast moving locations in the UK were in Aberdeen, with six of the top postcodes, Sutton,
Greater London where properties in the postcode SM5 are selling in just 15 days. Elsewhere in
London, SE2 (Bexley), SE17 (Southwark) and EC4 (City of London), properties are taking an average
of 13, 17 and 20 days to sell.
[NAME], [POSITION], [ESTATE AGENCY] commented: “In such a fast moving market such as
Cambridge, buyers need to be prepared early to be in with a chance of securing their ideal property.
They need to ensure they have a mortgage agreed in principle and are legally prepared early in the
process. This means contracts can be issued by their solicitor within 48 hours of an offer being
accepted. Without these things in place, buyers will often lose out to cash buyers and savvy
investors.”
Britain's fastest selling postcodes
No.
Postcode
Place
Days to sell
Ave property price (£)
1
AB22
Aberdeen
9
179,458
2
AB12
Aberdeen
12
280,377
3
AB32
Aberdeen
12
319,000
4
SE2
London
13
235,249
5
CB1
Cambridge
16
303,201
6
SM5
Sutton
16
455,476
7
AB16
Aberdeen
17
127,750
8
SE17
London
17
399,970
9
BS7
Bristol
18
244,373
10
AB10
Aberdeen
18
201,684
11
BS3
Bristol
18
178,969
12
SL8
Slough
19
886,898
13
TW14
Twickenham
19
281,237
14
EC4
London
20
1,504,607
15
GU7
Surrey
20
441,312
16
SM3
Sutton
20
415,815
17
SM6
Sutton
21
346,882
18
TW2
Twickenham
21
533,121
19
AB21
Aberdeen
21
197,000
20
CB4
Cambridge
21
279,097
Notes to editors:
The average property price is based on asking price data which provides insights into price
movements around five months ahead of mortgage completion and actual sales data. This measure is
calculated using a weighting system based on the DCLG (formally ODPM) Survey of English Housing
Stock and properties above £1,000,000 and below £20,000 are excluded from the calculations. The
average house price data is also published as the Home.co.uk Asking Price Index (HAPI) in
association with Calnea Analytics.
The average days to sell represents the median number of days needed for all vendors to sell a
residential property in the wider market from when it is first listed on market until it is Sold Subject to
Contract (SSTC). Statistics are taken from approximately 209,500 property sales compiled by
Home.co.uk from 6 December 2013 to 4 February 2014.
ENDS
For further information, please contact:
[NAME], [POSITION], [ESTATE AGENT], [TEL NUMBER], [EMAIL ADDRESS]