Scarcity of houses for sale

[goldenpeach]

I'm trying to understand what is happening in Cambridge as there are very few houses up for sale. We are chain free buyers but despite this we have been gazumped by a chained offer and now are struggling to find a good size family home. Are people holding on? It seems strange as prices are still quite high compared to other cities.

I don't hanker for London, I hanker for London bargain prices, besides what I meant is that in many commutable areas people count on London money to hike prices but the London money is not there anymore or dwindling out. I know people who are trapped in London because they cannot sell their house after price crash.

DP had well paid financial job and now he is at home most of the time. If there were a recovery, he'd be busy as he advises on credit for corporates. I'm reluctantly bowing to his wisdom, after all we sold just before the drop thanks to his insight when everybody else would not believe a crash was coming and will believe the hype only when he is busy again.

Having looked at nearly every county commutable to London, I saw this perception everywhere, although now the penny has dropped in many places, except Cambridge and Oxford, although the prices have fallen a bit compared to last year.

To be fair some Cambridge residents are a bit wary as there is a threat of massive redundancies from public sector. Don't have details, but I'm following the conversations. Surely we are not the only couple whose income got a massive hit?

Any reason why you're looking at Oxford and Cambridge in particular? You have picked probably two of the strongest property markets in the country! If you don't need to live in the university cities, I imagine you're right that there are far better bargains to be had elsewhere. I constantly ask myself why I pay crazy inflated Cambridge prices instead of moving somewhere more reasonable but the truth is I love the place!

I grew up in Histon - it was quite a small place then. Now it is pretty much an extension of Cambridge. Still nice though. Lovely little nursery!

Thanks for suggestions. My DP studied both in Oxford and Cambridge, I miss the intellectual stimulation of London but don't want to live in huge metropolis and was hoping to get more space for my money, the latter being a disappointment. Workwise i'd have more opportunities as there are more publishers there than in the Midlands, plus I have started doing some teaching (Holiday Italian) both privately and at adult education centre, so I'd have more of a chance there. Then there is my charity work, nct and breastfeeding network, apparently the latter has a good presence in Cambridge.

OK so which of you lot put the offer in on the house in madingley for 30k over the asking price and no chain? HOw on earth can I compete with that?!!!

Ah well - our dream home must be out there. Once we have sold this one of course...

Which house, GG? That does sound a crazy offer, even for Cambridge.

That'd be this one:

house

Was on for 370k.

that will be one hell of an extention!

Not me, I lost a house to somebody who offered 20K over asking price and it was a chain and I was cash buyer, still pretty annoyed as the property needed everything done and it was not central at all. Still, seeing the crazy prices of 4 bed houses, I can see what they acted like rabid dogs.

Nice house and Madingley is a desirable village. Always hard to price those as so few village properties come on the market. Keep looking, GG, you will find yours!

Still looking, prices make no sense, some seem ok, others are quite mad. Think we'll end up renting as I need to move where I want to live, otherwise I cannot get on with things.