Latest Press Article by Martin & Co Cambridge - Business Weekly - 19 Nov, 2009
Cambridge is frequently referred to as one of the most desirable places to live in the UK. The city is rich in history and has been dominated for many centuries by the University, with its splendid buildings and stunning architecture, giving Cambridge much of its beauty, charm and unique character.
The city's inhabitants enjoy a comparatively good standard of living, with low crime rates, high ranking schools, low unemployment, higher than average salaries and a highly skilled workforce.
Cambridge's proximity to London adds significantly to its appeal and to the local demand for rental property, while recent and ongoing improvements to the city's services, public spaces, transport system and shopping facilities provide further draws. Less than an hour from Stansted airport, Cambridge is also well placed for easy access to a range of international destinations.
Tourism accounts for nearly 5 million visitors to the city each year and holds a significant stake in the local economy, while the many colleges and other academic institutions provide a constant flow of short and medium term visitors - with many of the well-educated choosing to stay on and settle in the city on a more permanent basis.
Cambridge is world-renowned for its significance as a centre of excellence for scientific, medical and technological research and development, and the city has a vibrant and thriving business sector. It is a popular place for start ups, and is home to a wide range of science and technology firms which proliferate in the city's many business and technology parks.
The city's economy is supported by a number of large employers, one of the biggest being Addenbrooke's hospital, and a significant proportion of the city's wider workforce is employed on short- and medium-term contracts or university posts, sustaining the demand for good quality rental accommodation in the city.
The University owns much of the land and property in the city, and with strict planning restrictions in place, Cambridge property prices have a resilience not always found in other parts of the UK
Cambridge's population is set to grow dramatically in coming years, and due to the nature of the local economy, the city will continue to be characterised by a robust economy and highly-mobile and transient professional workforce.
Written by Nick Diggle, Director, Martin & Co Cambridge.
This article was printed in Business Weekly on 19.11.09 as is available online here: www.businessweekly.co.uk
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