Peterborough area guides
For an easy way to find information about some key local areas in Peterborough start by searching our Peterborough area guide. Alphabetically ordered by area name you'll find all you want to know about Peterborough - from local area highlights, the latest property to buy or rent, leading local Estate Agencies and lists of local area resources.
Peterborough is a cosmopolitan cathedral city located within the county of Cambridgeshire in the East of England. Home to a population of 166,000 [1] people, Peterborough is an historic and cultural hub well known for its racial diversity and the majestic Peterborough Cathedral. The cityâ~@~Ys property market is affordable, with prices remaining significantly lower than te national average. Economic growth in Peterborough is moving at a rapid speed â~@~S in fact, in 2005 it was the fastest growing economy within the UK [2] . Unemployment is low at 3.3 per cent [3] .
Located in one of the driest counties in the country, Peterborough experiences only 533 [4] millimetres of rain per year â~@~S a significant amount less than the national average of 838 [5] millimetres of rain per year. Summer highs average at 20ðC and summer lows average at 11ðC. Winter highs average at 6ðC and winter lows average at 1ðC [6] .
The city of Peterborough has access to an extensive public transport system consisting of buses and trains. Situated on the East Coast main rail line, Peterborough is a major stop and only 45 to 60 minutes from London on the train. A local bus network provides easy travel within the city and surrounding suburbs. East Midlands International Airport is located approximately 50 miles from the city centre.
Peterborough Property Market
Peterboroughâ~@~Ys property market is generally inexpensive in comparison to the national average. However, like all UK areas, prices continue to rise. The average price for a property in 2006 was â~B¤151,829, while 2007 reded an average of â~B¤157,481 â~@~S a total growth of 3.7 per cent. Terraced houses recorded the most number of sales at 34.2 per cent in 2007, while detached houses saw the largest increase in price, with the 2006 average of â~B¤218increasing to â~B¤234,713 â~@~S a total increase of 7.5 per cent.
Much of the Peterboroughâ~@~Ys houses< are dominated by old fashioned terraced houses; however, plans for regeneration have seen affordable flats entering the market. These city centre flats are very popular with first time byers and young professionals looking to break into the property scene.
Detached houses are the most abundant in Peterborough, representing 42.37 per cent of housing stock, while semi-detached houses dominate the city centre at 41.14 per cent [7] . There is a healthy rental market in Peterborough, although the majority of properties are owner occupied.
Peterborough Press
29 May 2008
Peterborough sees dramatic increase from property buyers
The rapid population growth in Britainâ~@~Ys key immigrant towns is driving demand for property, according to the latest monthly search figures from property website propertyfinder.com.
Nicholas Leeming director of propertyfinder.com: â~@~\Agricultural demand for labour remains red hot in the East Anglian farmlands and that is pulling in immigrant workers. With food prices riding high, agriculture is adding o the regionâ~@~Ys growing prosperity. Landlords continue to respond to these demands, searching for property to rent to those moving in to take up the jobs.â~@~]
Although Peterborough saw rapid growth in searches, Eastbourne was the most popular town in the country in May. With Brighton at no 13 in the country, the South Downs area is proving a big draw. Other south coast towns such as Southampton and Bournemouth also make the top fifteen.
Nicholas Leeming attributes Eastbourneâ~@~Ys popularity to its appeal to two distinct markets: â~@~\Eastbourne appeals to the retirement community who are relatively unaffected by the mortgage freeze as older buyers tend noto need to borrow. The housing slowdown may also be encouraging older buyers to bring forward plans to trade down the housing ladder, locking in gains on their larger homes in order to maximise their retirement nest eggs. Eastbourne is also well within commuting distance to London and appeals to younger families seeking a seaside location but wanting a London income. Again, trading down sooner rather than later may make sense for these people at the moment. Although Brighton is more popular with this group, Eastbourne appeals to a wider market.â~@~]
The most sought after counties remain in the South West, with Cornwall, Dorset, Devon and Somerset topping the table by a comfortable margin. However, the number of searches fell sharply in the region compared to the previous month and much more quickly than other top counties.
Nicholas Leeming explained: â~@~\The second home market dominates West Country searches on our site. The peak second home buying season is earlier in the year as people wish to complete in time to enjoy the summer, so this isbehind some of the slowdown. However the overall slowdown in the housing market may also be giving some buyers pause for thought.â~@~]
Rank
Top Towns in the UK
1
Eastbourne
2
Lincoln
3
Oxford
4
Southampton
5
Exeter
6
Cardiff
7
Cambridge
8
Norwich
9
Bournemouth
10
Reading
Rank
Top UK Counties
1
Cornwall
2
Dorset
3
Devon
4
Somerset
5
Northumberland
6
Oxfordshire
7
Kent
8
Surrey
9
Wiltshire
10
Buckinghamshire