The Cambridgeshire areas with the highest and lowest property prices

House prices in Cambridgeshire have seen a significant rise over the past year, with homeowners paying an average of £20,000 more for properties than in 2023. The latest figures from the Land Registry reveal an 8.1% increase in East Cambridgeshire, making it the area with the highest price growth in the county. This article explores the key trends in house prices across Cambridgeshire and the UK, highlighting the regions with the highest and lowest changes.

House Prices in Cambridgeshire – A Breakdown

The cost of buying a home in Cambridgeshire has gone up considerably. Here’s how different areas have been affected:

• East Cambridgeshire: The biggest increase in the county, with house prices rising by 8.1% to an average of £345,000. This means buyers are paying around £25,800 more per home than the previous year.
• South Cambridgeshire: Prices increased by 5.3%, with the average home now costing £451,000—an increase of £22,000.
• Cambridge: Home prices rose by 4.4% to £515,000, adding £21,700 to the cost of an average house.
• Huntingdonshire: The average house price is now £306,000.
• Peterborough: With an average price of £233,000, Peterborough remains one of the more affordable areas in the county.
• Fenland: The lowest average house prices in Cambridgeshire, at £225,000.

Increase in Home Sales Across Cambridgeshire

More people purchased homes in Cambridge and East Cambridgeshire in 2024 than in the previous year:

• East Cambridgeshire: 8.1% more homes were sold compared to 2023.
• South Cambridgeshire: Sales increased by 5.3%.
• Cambridge: The number of properties sold went up by 4.4%.

UK House Price Trends – National Overview

Across the UK, the average house price rose to £268,000 by December 2024, reflecting a 4.6% increase from the previous year. This translates to an extra £12,000 per home. However, not all areas experienced price growth.

Regions with Price Drops

Some areas saw a decline in house prices:

• Kensington and Chelsea (London): The largest decrease in the country, with a 22.9% drop. The average home now costs £1.07 million.
• City of Westminster: Prices fell by 22.2% to £868,000.
• Hammersmith and Fulham: Prices dropped by 10.5% to £752,000.

Fastest-Growing Property Markets in the UK

While London saw some of the biggest declines, other parts of the UK experienced significant price increases:

• Blackburn with Darwen: The fastest-growing property hotspot, with house prices rising 13.1% to an average of £159,000.
• Lisburn and Castlereagh: Prices increased by 11.4%.
• Inverclyde: Saw an 11.1% rise in house prices.

The housing market in Cambridgeshire has experienced substantial growth, with East Cambridgeshire leading the way with an 8.1% price increase. More homes were sold in the region compared to the previous year, reflecting strong demand. Across the UK, house prices generally rose, but some high-value areas in London saw significant declines. Meanwhile, locations like Blackburn with Darwen emerged as the fastest-growing property markets. As the market continues to shift, potential buyers and investors must stay informed about these changing trends.

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