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Residential

In recent decades Cambridge has been among the standout performers for residential property price growth and has a strong claim to be one of the UK’s premier residential markets, according to the latest research by Savills. Cambridge house prices have risen 241% since 2001 according to Land Registry – just 1% less than London over the same period, and well ahead of the rest of the East of England. Recent performance in the city has been somewhat weaker, however, despite boosts from the stamp duty holiday. Values in Cambridge rose by 3.8% in the year to June 2021, somewhat lower than the national average of 6.2%. Cambridge’s spectacular historic growth has become a double-edged sword for the city. It is one of the least affordable housing markets in the country, limiting market activity and future value growth. 

 

A key challenge for the city will be how it continues to grow and adapt to changing requirements without losing that rich character. One of those key challenges will be a significant demographic shift. Oxford Economics predicts the numbers of residents aged over 60 will grow by 29% between 2021 and 2031. The population aged 25–59 is expected to fall by 12%. This is a direct consequence of the city’s unaffordability, as younger households cannot afford to move into or stay in Cambridge. As the current population ages, Cambridge will see fewer economically active households. Well-targeted policy and development will be required to attract and retain these younger households within the city itself, rather than settling further out. Losing these types of households could have negative consequences for footfall and therefore the retail and leisure offering within the city centre.

 

“At their peak in 2018, house prices were an eye-watering 13.5 times greater than local average earnings – higher than London’s figure of 12.3 at the time,” commented Lawrence Bowles, Director, Residential Research at Savills. This means the city struggles to attract younger and less affluent workers – including key workers. These households often have to find accommodation outside of the city itself, putting greater stress on infrastructure. The greater number of long-distance commutes also has environmental implications. Providing either suitable accommodation in the city or suitable and sustainable transport options into the city must be a priority going forward.

 

The stretched affordability in the city has resulted in a strong rental market. Rents have grown 4.1% in the city in the 12 months to August 2021, compared to 1.6% in London. “There are three Build to Rent schemes in the pipeline, which we expect to deliver around 550 rental homes. This will help increase the tenure and housing options within the city, supporting its continued growth and development,” said Steven Lang, Director, Commercial Research at Savills.

 

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Office

The economic foundations of Cambridge’s high-performing residential market are solid.Employment and productivity is very strong in the city, with total employment expected to grow by 9% over the next ten years. This growth will be driven by further expansion in the already well-established science, tech, IT and professional services sectors.  Unemployment between 2010 and 2020 averaged only 4.5%, compared to 5.9% nationally. The productivity figures are even more flattering: after 20 years of stellar productivity growth – 24% ahead of the national average – Cambridge had closed its productivity deficit with London from 20% in 2001 to just 4% in 2020. According to Oxford Economics forecasts, Cambridge is due to overtake London in value added per worker in 2022, and achieve a 6% lead by 2030. 

 

This growth, supported by several major office deals, has underscored Cambridge’s appeal to employers. Software provider MathWorks moved into their new 93,000ft² premises at Cambridge Science Park earlier this year, marking the scheme’s biggest deal for over a decade. And Huawei has reaffirmed its commitment to building a new research and manufacturing facility in Sawston. Additionally, Blackstone portfolio company BioMed Realty also plans to deliver approximately 800,000ft² of high-quality purpose-built lab space, following the acquisition of two new sites in Cambridge.

 

The demand for commercial office and laboratory space in Cambridge remains buoyant. The obvious turbulence of 2020 did not dampen take-up, which was broadly in line with the five-year average. 2021 has progressed in a similar way with some significant deals signed, or in an advanced stage, that will further reduce the supply of available space in the city. Going forward, Cambridge will have a severe lack of new stock under construction, which will conflict with the continued hunger from occupiers of all sizes. Additionally, older stock cannot provide a solution as it may fail to meet occupiers’ ESG requirements, including Carbon net zero. This exacerbates the potential supply ‘crunch’ in the short to medium term. Accoridng to Savills, this may result in lesser attractiveness of Cambridge to occupiers as their requirements cannot be met in the city.

 

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Health sector

Throughout 2020, the pandemic focussed occupiers’ and commercial property investors’ attention towards the human health sectors. This appetite and interest has continued throughout 2021 and shows no sign of tailing off. For Cambridge specifically, with a rising interest in human health and wellbeing from the software, mobile and technology sectors, which have a significant presence in Cambridge, it has also created another future layer of demand that will emerge in the next few years. Commercial property investor interest has also continued to grow at an unprecedented rate, where we are aware of new entrants entering the market on an almost weekly basis.

 

“The appetite for Cambridge’s office and laboratory market continues to grow as the City increasingly becomes one of the world leaders in life science, including pharmaceuticals, biotechnology and engineering,” said Lawrence Bowles, Director, Residential Research at Savills. These key drivers behind the investor interest are anticipated to produce significant rental growth predicated by expansion of the occupier base due to huge flows of capital being raised by companies of all scales, the academic spin-out through to the later-stage venture capital. These indicators, combined with a severe shortage of supply in Cambridge, highlights the need and creates the key ingredients for future development growth.

 

The pandemic also raised investor interest levels in more alternative types of commercial property. In particular, the laboratory market, where occupancy and utilisation rates were considerably higher than in traditional offices through lockdown, increased the interest of investors. This heightened interest was also supported by the considerable level of capital being raised – particularly venture capital – by companies that then require laboratory space.

 

Of course, despite research and development (R&D) property historically sitting within the offices’ use class, there are significant differences between the specification of laboratory and office property. Despite this, it has been interesting to see how quickly investors have become comfortable with the wider types of R&D investment property that caters for very different end-users compared to a traditional office.

 

 

For more information, please see:
Cambridge: Thriving on Innovation by Savills
Shifting demographics pose a challenge for Cambridge by Savills

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Hottest property markets revealed: Homes in Liverpool take just 17 DAYS to sell – half the typical average

  • Liverpool and Manchester homes selling the fastest, Zoopla data shows
  • Cheaper homes in demand while four-beds are taking longer to sell  

Homes in Liverpool and Manchester are the fastest selling in England, new data reveals. 

While properties in the North West are seeing rapid average sales times, those in southern England, Wales and the Midlands are taking almost two weeks longer to sell than in 2022.

Across England, homes are on the market for an average of 34 days before securing a sale, figures from Zoopla claim. 

Rapid sale: Homes in Liverpool and Manchester are selling quickly, Zoopla says

Rapid sale: Homes in Liverpool and Manchester are selling quickly, Zoopla says 

Homes in Salford, Basingstoke and Deane and Sheffield are also selling reasonably quickly, with an average timeframe of up to 24 days. 

Waltham Forest is the only London borough to see homes selling faster than the national average for England, with sales agreed in around 24 days. 

Two-bedroom terraced houses are the fastest selling property type in four in five regions, while four-bedroom homes are taking the longest to sell. 

In London, pricey detached homes with four or more bedrooms are taking around 59 days to sell, the findings suggest.  

In hotspots like the North West, the fastest selling type of property is the one-bedroom flat, taking 21 days on average to sell, and with prices around the £100,000 mark.

Meanwhile, four-bedroom homes in the North West are typically taking around 53 days to sell, with higher price tags at around £477,000. 

In the North West and North East, the average home is between £72,000 to £125,000 less expensive than the national average, according to Zoopla.

Quick sale: New data suggests it only takes an average of 17 days to sell a home in Liverpool

Quick sale: New data suggests it only takes an average of 17 days to sell a home in Liverpool

Higher interest rates on mortgages and the rising cost of living have been causing some buyers to ponder for longer when it comes to property purchases.

Izabella Lubowiecka, a senior property researcher at Zoopla, said: ‘Over the last 12 months, the time to agree a sale has increased by almost two weeks. 

‘This is due to a few factors: there are fewer buyers in the market alongside cost of living concerns and higher mortgage rates which has meant many have had to pause a search for their next home. 

‘However, we are now simply seeing a return to more normal market conditions experienced in the years leading up to the pandemic. 

‘Anyone thinking about selling should bear this in mind and be prepared that it may take longer to sell their property than in recent years.’

Data published by Nationwide on Wednesday revealed house prices defied expectations by rising 0.9 per cent last month.

But the index showed that house prices remain 3.3 per cent down compared to October last year.

House prices also remain 5.23 per cent, or £14,328 below their peak in August 2022, before mortgage rates began to rapidly rise.

The average home increased in price from £257,808 in September to £259,423 in October, Nationwide said.

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Choco: Revolutionizing The FoodTech Industry With Innovation & Sustainability | EU20

By Clint Bailey

— In the rapidly evolving world of food technology, European startup Choco has emerged as a pioneering force. With its website, Choco.com, this Berlin-based company is transforming the way food industry professionals operate by leveraging innovative digital solutions. By linking restaurants, distributors, suppliers, and producers on a single platform, Choco is streamlining the supply chain process while promoting sustainability.

Let’s explore the journey of Choco.com and its impact on the overall foodtech industry.


  1. Company: Choco Technologies GmbH
  2. Website: www.Choco.com
  3. Head Office: Berlin, Germany
  4. Year Established: 2018
  5. Founders: Choco was co-founded by Daniel Khachab, Julian Hammer, and Rogerio da Silva.
  6. Industry: Choco operates in the foodtech industry, specifically focusing on digitizing the supply chain for the food industry.
  7. Funding: Choco has secured significant funding rounds from investors, including Bessemer Venture Partners & Coatue Management.
  8. Market Presence: Choco has a strong presence in several European cities, including Berlin, Paris, London & Barcelona.
  9. Mission: Choco aims to revolutionize the food industry by leveraging technology to simplify supply chain management, promote sustainability, and reduce food waste.

Simplifying Supply Chain Management

One of the core focuses of Choco is to simplify supply chain management for food businesses. Traditionally, the procurement process in the food industry has been cumbersome and inefficient, with numerous intermediaries and manual processes. Choco’s digital platform replaces the traditional paper-based ordering system, allowing restaurants and suppliers to communicate and collaborate seamlessly.

Choco’s platform enables restaurants to place orders directly with suppliers, eliminating the need for phone calls, faxes, or emails. This not only saves time but also reduces the likelihood of errors and miscommunications.

By digitizing the ordering process, Choco improves transparency, making it easier for restaurants to compare prices, track deliveries, and manage inventory efficiently.

Streamlining Operations For Suppliers & Producers

Choco’s impact extends beyond restaurants. The platform also provides suppliers and producers with valuable tools to streamline their operations. By digitizing their product catalogs and integrating them into the Choco platform, suppliers can showcase their offerings to a wide network of potential buyers.

Suppliers benefit from increased visibility, enabling them to reach new customers and expand their market presence. Moreover, Choco’s platform helps suppliers manage their inventory, track orders, and plan deliveries effectively. These features enhance operational efficiency, reduce waste, and ultimately contribute to a more sustainable food system.

https://youtube.com/@choco233
YouTube Channel

Promoting Sustainability & Reducing Food Waste

Choco recognizes the critical importance of sustainability in the food industry. According to the United Nations, approximately one-third of the world’s food production goes to waste each year. By digitizing the supply chain and enabling more efficient ordering and inventory management, Choco actively works to combat this issue.

Air France – Deals & Destinations

Choco’s platform facilitates data-driven decision-making for restaurants, suppliers, and producers. By analyzing purchasing patterns & demand, Choco helps businesses optimize their inventory levels, reducing overstocking and minimizing food waste. Additionally, Choco supports local sourcing, enabling businesses to connect with nearby suppliers & promote sustainable, community-based practices.

Expanding Reach & Impact

Since its founding in 2018, Choco has experienced rapid growth and expansion. The startup has successfully secured significant funding rounds, allowing it to scale its operations and establish a strong presence across Europe and other global markets. Today, Choco’s platform is used by thousands of restaurants and suppliers, revolutionizing the way they operate.

Choco’s impact extends beyond operational efficiency or sustainability. By connecting restaurants, suppliers & producers on a single platform, Choco fosters collaboration & encourages the exchange of ideas. This collaborative approach strengthens the overall foodtech ecosystem and creates a supportive community of like-minded aiming to drive positive change within the industry.

Future Of FoodTech

Choco’s rise to prominence in the foodtech industry exemplifies the reach of sustainability, innovation, and community. Through its user-friendly platform, Choco simplifies supply chain management, streamlines operations for restaurants & suppliers, and actively promotes sustainable practices. By harnessing the potential of digital, Choco is disrupting the future of the food industry, making it more efficient and transparent.

As Choco continues to expand its impact and reach, its transformative influence on the foodtech sector is set to inspiring, grow other startups, and established players to embrace technology for a better and more sustainable food system.


We Can’t Thank You Enough For Your Support!


— Compiled by Clint Bailey | Team ‘Voice of EU’
— For More Info. & News Submissions: info@VoiceOfEU.com
— For Anonymous News Submissions: press@VoiceOfEU.com


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Want to sell your home over Christmas? Here’s why you should put the decorations AWAY

Across the country, a warm glow is beginning to appear — but might it be from Yuletide decorations destroying the chances of selling your home?

For some people the festive season involves inflatable Santas clinging to windowsills like burglars. Others prefer illuminated reindeers in the front garden.

But if you’re among the 100,000 households trying to sell this Christmas, the advice from many experts is to leave the lights in the garage and the plastic snowman in the loft.

Keep them in the garage: Over-the top decorations

Keep them in the garage: Over-the top decorations

Vendors must avoid anything that handicaps a sale in today’s difficult market.

Rightmove says the average asking price of homes across the UK coming to the market in November is 1.7 per cent down on October, while posh estate agency Savills reports some London prices are now 19 per cent below their peak.

And as buyers struggle to afford mortgages, the number of house sales nationwide this year is expected to be one million, according to Zoopla — or 20 per cent lower than usual.

The Your Move chain of estate agents is clear that decorations should be off the agenda, adding: ‘The key to potential buyers falling in love with a property is them being able to imagine themselves living there.

‘Piles of clutter and decorations make it harder. So make it easier for them by keeping spaces as open as possible.’

The key to potential buyers falling in love with a property is them being able to imagine themselves living there. Piles of clutter and decorations make it harder

The public seems to agree. A survey by GetAgent, a comparison site on which the public can find favourably reviewed estate agents, shows 24 per cent of would-be buyers say they’re deterred from viewing a home with excessive outdoor Christmas lights.

Colby Short, chief executive of GetAgent, advises: ‘Selling at Christmas is no different to any time of year and you have to remember that not everyone will share your tastes, or sense of humour.

‘A blank canvas works best when it comes to attracting potential buyers and if your home is covered in Christmas decorations, it can be hard for them to get a true sense of the property.’

Tasteful: Forget inflatable Santas and pick refined, calming colours if you're hoping to sell a property this Christmas

Tasteful: Forget inflatable Santas and pick refined, calming colours if you’re hoping to sell a property this Christmas

Tips for selling a home over Christmas

GetAgent recommends sellers stick to white lights and not coloured, flashing ones visible on a ‘walk-by’ initial viewing, and no gaudy exterior decorations.

Instead it suggests a festive twist on the smell of freshly baked bread — vendors should use Christmas scents such as cinnamon and mulled wine.

Not every agent is against decorations. Some, like Alex Oliver of buying service Prime Purchase, says they are inevitable and most buyers grin and bear them.

Nonetheless he tells sellers that if they must have decorations, they should follow two golden rules.

Firstly, don’t get a home photographed by agents at this time of year because listings on Rightmove with decorations in the photographs will make a home feel stale in the New Year.

Secondly, take the decorations down soon after the festivities to avoid giving the wrong message.

‘If the decorations were still up I’d be concerned there may be other issues that the vendor has not kept on top of such as maintenance or permissions for any works they may have had done,’ Oliver adds.

But many experts say listing your house now and having it on sale over the festive season has unexpected advantages.

That’s because Christmas is when many families have time to make plans for major events such as house-moving and, sadly, many couples agree to split up.

Agents say anyone preferring to view homes now instead of relaxing is likely to be a serious buyer, while there will also be significantly fewer homes on the market too, so you will face less competition.

Twelve months ago there were a jaw-dropping 51 million visits to Rightmove between Boxing Day and the first working day of 2023.

Tim Bannister, Rightmove’s data director, says: ‘Traffic to our website more than doubles between Christmas and the New Year, those sellers who get a head start now and have their home ready to launch can benefit.’

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