...and the prospects for 2000 (Alex R Cook FRICS, Consultant)
Not one pundit would have predicted the 20%-25% average rise in residential properties values in Cambridge
and District for 1999. Yet it happened. So how can one predict how the market will move in 2000? Interest
rates have moved up in recent months, the next move in rate levels will probably also be in an upwards
direction. But, compared with a decade ago, rates are still manageable and those determined and able to
purchase will not be deterred.
Increases in stamp duty will continue to have an affect around the charge
points, i.e. at £250,000 and £500,000. It is predicted that price levels will continue to move ahead in 2000;
supply cannot hope to meet demand but, with mortgage rises attempting to take the heat out of the market, an
average rise of around 10%-12% is rather more likely.
Victorian and Edwardian Cambridge houses will still prove
the most buoyant area together with the individual country house where rises in 1999 have been particularly
spectacular.
