17:52 Wednesday 1st May 2013
Drive
BBC Radio Cambridgeshire
[C]HRIS MANN: There’s a warning this evening that the meteoric rise of Cambridge house prices is unsustainable. and will cause ruin when they come crashing down. David Furlow founder of cambridgehouseprices.co.uk said there’s a Cambridge delusion, in which people have been conditioned to assume house prices will only go up. I put this theory to leading local estate agent Chris Carey of Bidwells. (TAPE)
CHRIS CAREY: Well to be honest, this is no surprise that we have concerns raised, because Cambridge as ever tends to buck the trend, the UK housing trend. I’ve been in Cambridge all my life, and I’ve been in property over thirty years, and over the last few decades this has arisen quite regularly. I certainly remember the late ’80s boom, which quite frankly was certainly unsustainable. And of course most of us who were around at that time remember the long recession from ’89 through to the mid-90s. So this isn’t a recent phenomenon.
CHRIS MANN: So, is there a chance that these prices will come crashing down, the bubble will burst and everyone will be ruined? Continue reading “Cambridge House Prices”