Buyers in Cambridge almost £1m better off than renters

Researchers compared the lifetime gain or loss of someone renting a property to the lifetime gain or loss of buying an average home. Because buyers will own an asset once they have paid off their mortgage, this is creating a remarkable divide between buyers and renters, leading to a property divide whose wealth will be substantially less than those buying over a 25 year period.

It may seem as though renting can be the cheaper option, but overtime, the property winners are those who buy and are left with an asset after 25 years. Looking at the costs of buying or renting an average Cambridge house priced at £450,426, buyers can gain over £918,000 after 25 years. This average house price reflects the latest figures published by the UK’s Valuation Office Agency under the category “all properties”.

David Everett, Managing Director of Countryside’s New Homes & Communities Central Region, said: “Cambridge has a unique offering that few other cities can replicate, in that it gives residents the chance to enjoy contemporary living in one of England’s most historic cities. With excellent education and transport links, Cambridge also offers home buyers a good investment for the future. The outstanding Perse School lies within walking distance of our developments, along with the Cambridge Guided Busway providing the fastest connections to destinations including Cambridge railway station and the city centre”.