Cambridge Tech Boom and Housing Shortage Bring Investment Opportunities,
With Growth in Home Prices On Par With Prime London
Introducing Timber Works by Cambridge’s Largest & Prestigious Developer Hill
A New Low-Density Development Exclusively Launching Overseas in Hong Kong.
UK’s house prices continue to set new records this year with the positive effect of the stamp duty holiday extension and the recovery from the pandemic. The number of people from Hong Kong purchasing homes in the UK has shot up since the UK government announced a new visa welcoming residents with BNO. In fact, during the pandemic, UK locals have also changed their living habits as more people are now looking to leave the city for low-density commutable towns outside of London in surrounding rural areas or beyond in the countryside. Cambridge, the breeding ground of world-leading life sciences and innovation companies, is the top choice of many living in London, pushing both the demand and home prices to new record highs. Cambridge’s top developer Hill has commissioned Golden Emperor, Asia Bankers Club and Ashton Hawks to promote its latest low-density residential development Timber Works, located in the heart of Cambridge. Prices of semi-detached houses are from £599,000 and flats in residential buildings from £330,000.
End of Lockdown and Property Boom
While many countries are still struggling to recover from the pandemic, the UK has shown positive signs of recovery, which is coupled with two-thirds of adults receiving the first dose of the Covid vaccination and one-third completing both doses. The vaccination coverage is one of the top in the world. Prime Minister Boris Johnson has emphasized at a recent Conservative Party conference, that with the current data, England would be able to reopen its economy following the roadmap to end lockdown, allowing people to ease back into a normal way of life. With the UK entering Stage 3 of the roadmap and the gradual lift of international leisure travel restrictions, it is believed that the UK will be ahead of other European and American countries to recovery socially and economically.
Although the economic and GDP growth of the UK has inevitably reeled from the impact of the pandemic, the UK’s housing market is in an opposite trend and a super-boom is seen in both transaction and house prices. Besides the record-high growth in the capital London, house prices in the 45-minute away Cambridge is growing at the speed to match and even surpass London. According to the survey of Zoopla, Cambridge has recorded a 12-month house prices growth of 8.83%, and the average house prices of Cambridge in May 2021 was about £430,000.
Rebecca Littler, Group Sales & Marketing Director at Cambridge’s leading developer Hill, comments, “Our latest new homes in Cambridge are inspired by the site’s historic setting, which saw four generations of the Ridgeon family grow their timber business. We’re now excited to see first-time buyers, families, couples and downsizers alike put down roots here at Timber Works and watch as it transforms into a thriving community, complete with a nursery and green open spaces where residents can enjoy meeting their neighbours. As our new homes are just a short walk from both the city centre and Cambridge’s sought-after Mill Road that offers a treasure trove of independent restaurants, boutiques and coffee shops, we know that our residents will love living here.”
Post-Pandemic Lifestyle and the New Normal of the Housing Market
The global pandemic has revolutionised the lifestyle and working culture of many, and the future of housing and urban planning is bound to change. The people in the UK are seeking a better and greener living environment with more space and are therefore willing to commute further to stay away from the busy financial district. As a result, many professionals working in London have made the move to Cambridge, where globally renowned businesses are based such as Google, Microsoft and AstraZeneca, along with the world-famous educational colleges of the University of Cambridge. It only takes 45 minutes to drive from London and 48 minutes by train. The ‘new normal’ lifestyle of working from home, demand for more outdoor space and commuting journey no longer being key for most, has driven the demand of quality housing in Cambridge to a record high.
Rebecca Littler, Group Sales and Marketing Director, comments further, “The past year has highlighted how important fresh air and access to greenspaces is to our health and wellbeing. Stepping outside for a 30-minute walk is a great way to blow away the cobwebs, and at Timber Works we have incorporated a central park that not only provides a great outlook, but also offers residents a great space to sit and catch up with friends or family, meet new neighbours and appreciate some of Cambridge’s best artists. We urge interested parties to book a viewing.”
Cambridge is said to be a “dark horse” for property investment, with a strong potential in capital gains and rental yields that cannot be overlooked. In recent years, a lot of world-leading tech and innovation companies have set up headquarters or campuses in the science parks within Cambridge instead of London as the University of Cambridge is the cradle of innovative talents. Establishing an office in Cambridge will help corporates to build their talent pool. There are now more than 4,500 life sciences and high-tech firms in Cambridge, including Amazon, Apple, AstraZeneca and Microsoft establishing their presence in the science parks, becoming the future “Silicon Valley of the UK”.
Kingston Lai, Founder & CEO of Asia Bankers Club said, “Since there are quite a lot of science parks in Cambridge, the cluster of talents has pushed the demand of quality homes there. However, with the shortage of new homes for sale, every new release of development has attracted great interest from home buyers and investors, and the second hand homes transaction is also very active. As the house prices of Cambridge is growing as that of London, along with the big pool of professional tenants, the rental yields of the properties there are often quite high.”
Rare Brand New Low-Density Residential Project for Investment and Moving In
Cambridge’s residential project has always been popular among investors from Hong Kong and home buyers. Ivan Yam, Managing Director & Partner of Golden Emperor, comments, “Cambridge is a city of culture boosting a peaceful and quiet lifestyle where investors from Hong Kong have shown great interest for moving and studying abroad outside of London. Developed by Cambridge’s top 5 star housebuilder Hill, Timber Works is a rare and brand new low-density residential project situated in the core of the CB1 postcode district in the city centre. A 6-minutue bicycle ride will take you to Cambridge Station where 7 National Rail routes stop, and 3 minutes to the Mill Road, the “coolest street” for shopping and dining. A 10-minute bicycle ride will also bring you to the University of Cambridge. Many high-tech corporates and science parks are only 6 to 20 minutes by bike. The properties in that district is a magnet for professionals, making it an ideal choice for both investors and home buyers.”
Frederick Ho, Director & Partner of Ashton Hawks said, “The biggest selling point of Timber Works is the low-density design of the development, with open space sought after by the middle-class. The 152 rare freehold semi-detached houses with garden and parking space are only from £599,000. The development also provides low-density units in residential building, with one bedroom units from £330,000 and requires 10% down payment only. Since there is a shortage of new homes for sale, the flat units are estimated to achieve 5%* annual rental yield on average, and 4%* for the semi-detached houses.”
Timber Works’ global launch exhibition with Cambridge investment seminar will be held on 5 to 6 June, 2021 on 27/F, The Park Lane Hong Kong, a Pullman Hotel in Causeway Bay.
*Rental yields are projected but not guaranteed.
About Hill, the Developer
Hill is an award-winning 5 star housebuilder which includes the prestigious WhatHouse? Awards as Best Developer for the past 3 years consecutively, aims at creating a range of beautiful and award-winning new homes across London and the South East with a head office in Waltham Abbey and five strategically located offices across the south east. Across their 22 year history, the family owned and operated company has grown to establish itself as the UK’s third largest privately owned housebuilder, with an impressive and diverse portfolio ranging from landmark mixed use regeneration schemes and luxurious inner-city apartments to modern rural developments. Hill builds around 2,000 homes a year, for clients and partners in the affordable housing sector, and have a pipeline of more than 6,500 homes.
About Golden Emperor
Golden Emperor Properties Limited is a Hong Kong-based company that offers international properties to clients in Hong Kong and globally. The company works with property developers from Thailand, Vietnam, Japan, Malaysia, the United Kingdom, the USA, Australia, Europe, and many others. The company has a team of dedicated sales agents that can provide consultancy and information on relevant transaction-related topics such as taxation, sales & purchase procedures, payment schedules, and many others.