Property in Ely, Cambridgeshire: local knowledge
07-26-2010
THIS WEEK
David Clark of David Clark & Company, Ely (01353 665020; www.clarkhomes.co.uk)
AREA
Generally a 10-mile radius of Ely, but with the power of the web we often go beyond this.
GENERAL OUTLOOK
People are still coming in the door – it has been busy enough that we’ve recruited a new sales negotiator. When the election result was confirmed, viewings and offers started to flow, but these have fluctuated as “cuts” are announced.
AVERAGE PRICES
Between £99,950 and £1.1 million. A five-bedroom detached family home will average around £330,000 in Ely on one of the more recent developments.
ON THE BOOKS
There are 42 homes on our books, but with the suspension of HIPs we’re expecting lots more of them to come on. We’ve had a very busy month so far valuing properties and taking new instructions.
NEW INSTRUCTIONS
A converted barn just outside Ely, near Prickwillow and Queen Adelaide, with a first-floor lounge and balcony overlooking the River Ouse: perfect for watching wildlife and boats go by. The guide price is £375,000.
HOT DEMAND
A modern three-bedroom semi at £172,500 has lit up our phone lines with viewing requests from the hour it went live on the websites. Smart presentation, landscaped garden and that all-important realistic asking price are attracting buyers.
LINGERING
A non-estate family home called “Midsummer” in Littleport (seven miles north of Ely). With four bedrooms, two bathrooms and three reception rooms, the price is now down to £271,995. We think it’s the three per cent Stamp Duty threshold that’s holding it up.
LOCAL ATTRACTIONS
Great schools with many newly built or extended (they did it just in time), plus the private King's School continues to be a draw. Ely’s famous Cathedral: when it was built, Ely was only a small settlement and the town grew up around it.
WORD ON THE STREET
The Bishops Palace, opposite the Cathedral, is on the market (£1.5 million) for the balance of the lease. We’ve spoken to a couple of developers who are looking at trying to acquire the freehold to convert it.