Bidding wars are back in force at historic hotspot Cambridge

THE university city of Cambridge is enjoying a resurgence of interest among property hunters.

They are attracted by the charm of its ancient cobbled streets and easy train commute into London. Dotted among the streets close to the centre are a plethora of ‘sold – subject to contract’ signs.

According to Jamie Ullmer, sales manager of estate agent Leaders,

phones are ringing off the hook. He points to a board inside the office with blue ‘sold’ strips plastered across four homes that have been snapped up. He says: ‘We already have 30 appointments to see properties at the weekend – interest is crazy. People are shaking off their January blues.’

He says that two-bedroom Victorian terrace homes costing £350,000 are top of many buyers’ shopping lists, often as starter homes. He says: ‘If you get a few people interested, there is a fight for the property.’

A similar story is told at nearby estate agent Haart. Half a dozen red ‘sold’ labels are stuck on the corner of homes displayed in its front window – almost a quarter of those advertised. Sharp-suited Daniel Sumner, owner of a winning smile, says: ‘Forget the doom and gloom. There are some real buying opportunities in Cambridge and people are waking up to them.’

He adds: ‘There is still not much property on the market. Homes that come up for sale are often offered via an open-house invitation – where a dozen or so people come along and view. Sometimes they get involved in a bidding war so keen are they to buy.’

Sumner points to a five-bedroom, semi-detached family home put on the market for £600,000 just before Christmas that recently sold for £615,000. He says: ‘It is all about marketing. Stuck on an online website, this home sat on the market for six months. With us it sold in three weeks.’