Whilst some areas of the UK have been flooded with rental properties, Cambridge city centre has the opposite problem.
Savills has a serious shortage of homes available to let; with increasing demand. “We need homes to let in Cambridge city centre, in particular one and two bedroom flats,” comments Jane Dixon, head of lettings for Savills Cambridge.
“We haven’t had so many instructions for new apartments recently, so finding a one bedroom flat in the city centre for example, is almost impossible.”
Levels of demand are high as Savills is still seeing a large number of applicants relocating to the area.
Cambridge as a city relies on the education, healthcare and IT sectors to support its economy, all of which are still recruiting from outside of the area.
Enquires from relocation agents are also encouragingly high as they look for property in the city centre which is virtually non existent at present.
“I would say that anything within the city centre of a high quality would let almost immediately, which is good news for the rental market. I am confident that this will remain buoyant until at least Spring 2009 and would urge those debating about whether or not to let their property should get in touch,” concludes Jane.
