Peterborough, a historic city known for its impressive cathedral and scenic country parks, has emerged as the most affordable place to buy a home in Cambridgeshire. According to recent data, homes in the PE1 postcode area, which includes Peterborough, Eastfield, Eastgate, Dogsthorpe, Fengate, Newark, and Parnwell, sold for an average of £201,723 over the past year.
Peterborough’s cathedral, a key attraction, houses a significant historical tomb and is a notable landmark. Additionally, Ferry Meadows, a large country park located less than three miles from the city centre, offers meadows, lakes, woodlands, and play equipment, enhancing the city’s appeal to potential homebuyers.
Wisbech, often referred to as the “capital of the fens,” is the second cheapest postcode area in Cambridgeshire, with an average house price of £233,664 in the PE13 area. This region includes Wisbech, Guyhirn, Murrow, Parson Drove, Tydd St. Giles, and Wisbech St. Mary. Wisbech boasts an award-winning garden centre, farm shop, and restaurant. The town also features a historic tramway that inspired a character in a beloved children’s book series.
Ranking third in affordability is the PE4 postcode, covering Gunthorpe, Paston, Walton, and Werrington, where the average house price is £247,228. Gunthorpe is noted for its highly-rated local fish and chip shop, which has earned praise from reviewers for its quality and taste.
In stark contrast, the most expensive area to buy a home in Cambridgeshire is northwest Cambridge (CB3), which includes Girton. Here, the average house price stands at an impressive £834,579, reflecting the high demand and premium associated with living in this prestigious area.
The second-highest average price is found in west Cambridge (CB2), at £670,709. This area, known for its proximity to the university and the bustling city centre, remains a sought-after location for homeowners. Close behind is PE5, encompassing Ailsworth, Castor, and Sutton, where the average house price is £619,844, although only 16 sales were recorded in the past year.
The disparity between the cheapest and most expensive areas in Cambridgeshire highlights the varied property market within the county. Peterborough, with its affordable housing, rich history, and natural beauty, offers a stark contrast to the high-end properties found in northwest and west Cambridge, which cater to those seeking proximity to the university and the amenities of a vibrant city.
This significant gap in property prices underscores the diverse nature of Cambridgeshire’s housing market. While areas like Peterborough provide cost-effective options for families and first-time buyers, the premium areas of Cambridge attract affluent buyers looking for prestigious addresses and proximity to educational institutions and cultural landmarks.
As the housing market continues to evolve, potential buyers and investors will need to consider these price variations when making purchasing decisions. The appeal of more affordable areas like Peterborough and Wisbech lies in their combination of historical charm, community amenities, and lower cost of living. In contrast, the high prices in Cambridge reflect its global reputation, educational excellence, and thriving economic landscape.
In summary, Cambridgeshire offers a wide range of housing options to suit different budgets and lifestyles. From the affordable and historically rich Peterborough to the prestigious and expensive northwest Cambridge, the county’s property market is as diverse as its cultural and natural attractions. As the region develops, monitoring these trends will be crucial for prospective homeowners and investors seeking to navigate the complexities of the Cambridgeshire housing market.
