Cambridge is a worldwide famous city, recognised for its beautiful and reputable colleges, university grounds and buildings. Jonathan Hopper, Managing Director of Garrington Relocation talks about why a Cambridge Relocation could be an interesting opportunity.
Whilst many towns in the UK have suffered under the economic pressures, Cambridge’s economy is still growing. The city’s employment has remained stable, by comparison to other UK cities, even showing significant growth in some sectors. The ever growing Cambridge Science Park is home to over 100 businesses and continues to attract new residents, helping to expand the centre’s global recognition. The Science Park is one of the biggest employers in Cambridge with over 5,000 employees, followed by Marshall Aerospace who employ approximately 3,500 members of staff. The tourist sector is host to the most employees with 6,500 workers striving to expand the industry, and attracting worldwide visitors to the City.
The employment prospects that Cambridge offers helps to attract many homeowners and people relocating to Cambridge, reflected in the increasing demand for the city’s properties and resulting in rising house prices. For the first quarter of 2012 Cambridge house prices rose on average by 8%, with Edwardian and Victorian properties achieving especially high prices. There is becoming a shortage of stock within the City, resulting in buyers looking in nearby villages and towns such as Ely and Newmarket where there is a short train commute into Cambridge.
With London house prices reaching record highs many people relocating are looking at prospects outside of the Capital. The efficient commute, global recognition and high living standards is expanding Cambridge’s reputation and attracting many individuals who are choosing to relocate to Cambridge. With the world class University, one of the UK’s top teaching hospitals (Addenbrookes), and excellent state and private schooling, Cambridge has remained secure throughout the tough economic times and continues to grow.