Would you buy a flat or a house for £500k investment?

[Severine19]

Hi, I just posted a question in the Property/DIY section.

Investing in Cambridge?
www.mumsnet.com/Talk/property/3555022-investing-in-cambridge#86196458

Wondering if anyone has an opinion on whether as a potential first time landlord you would buy a 2-bed flat close to the train station, or a 3-bed semi in Cherry Hinton?

I wouldn't buy anything at the moment as Brexit is likely to have some impact on house prices even in the Cambridge market. Spending 500k on buy to let is buying a family home to let out, not sure if that is usual in this local market. If breaking it up into flats or student housing, please don't as we have enough of that already and not enough family homes in city

Yes I would, however I would wait until after Brexit, and make the most of lower prices

Thanks for the replies.

Yes, planning to wait until after Brexit to see what happens to prices, just starting to look around now.

I wouldn't think of breaking a house up into flats. Just thinking it will be an investment (eg something to pass on to DD when she grows up) as possibly Cambridge property prices will hold their value long term.

What do you think of the Eastfields new housing development near Coldhams Lane? Wondering though about the surrounding neighbourhood and antisocial behaviour, eg www.cambridgeindependent.co.uk/news/stay-away-from-cambridges-burnside-lakes-warns-developer-9066278/

Personally I wouldn't buy a buy to let in Cambridge. For 500k you could probably buy 2- 4 flats in a more northern uni town (e.g. Liverpool or Newcastle) and yield more in rental value and less risk in one basket. Cambridge prices are very high and there's lots of building going on around the city, in particular colleges buying land and building student accommodation. I can't see prices rising the same way they have done over the past 10 years.

I would not passively support any building around the Cambridge Lakes area. If they over develop there, Cherry Hinton will be even less of a village than it is now.