Cambridge is a university city within Cambridgeshire, England, located on the River Cam about 50 miles from London.
The most well-known to the world for the University of Cambridge, it is also a high-tech center known as Silicon Fen and Cambridge Biomedical Campus, the largest centre of medical research and health science in Europe.
Let’s have quick introductions of them and see how these sectors have impacted Cambridge’s success so far.
University of Cambridge
Founded in 1209, University of Cambridge is the 5th oldest university in the world. It has 31 constituent colleges. Some notable mentions are Lee Kwan Yew, Stephen Hawkings, Issac Newton. Over 107 affiliates of the University of Cambridge have been awarded the Nobel Prize, specially in Physics, Medicine and Chemistry.
In fact, University of Cambridge has produced more graduate founders than any other UK university. The city is home to Europe’s largest technology cluster (1,500 tech businesses), and it has been reported that Cambridge’s tech sector is worth £2.4billion. [1]
SILICON FEN
Silicon Fen is a home to a large cluster of high-tech business focusing on software, electronics and biotechnology, some of the UK’s most famous and successful companies, such as Arm and AstraZeneca.
Many of these business have connections with the University of Cambridge, and the area is now one of the most important technology centers in Europe.
Cambridge Biomedical Campus
Credit Source: Cambridge Biomedical Campus
The largest centre of medical research and health science in Europe. A partnership between the Cambridge University Teaching Hospital, Cambridge University and the Medical Research Council and situated on the Addenbrooke’s Hospital site.
RANKED 2ND - the best UK cities for pursuing tech-based degrees
According to Carphone Warehouse ranking, Cambridge is ranked 2nd in the best UK’s city hotspots for students looking to specialise in tech. This is because of the University of Cambridge, ranked 3rd for its tech disciplines, scoring 93.4 out of 100 in the QS world rankings. [2]
The ranking is based on a number of metrics, including access to technology, industry strength, education and careers opportunities.
RANKED 2ND - the best performing city for house price appreciation
The Aldermore’s Buy-to-Let City Tracker which includes a total of 50 cities, ranks each location after analysing 5 key indicators impacting desirability for a buy-to-let investor.
The 5 key indicators include the average rent, the best short-term returns through yield, the long-term return through house price growth over the past decade, the lowest number of vacancies as a proportion of total housing stock and the percentage of the city population in the rental market.
Second-placed Cambridge has given its property investors a 61 per cent long-term return through house price growth over the past decade making it the best performing city on the tracker for house price appreciation. [3]
Cambridge has made the biggest jump from 8th in 2019 to 2nd in 2020.
RESIDENTIAL RENTAL MARKETS DOMINATED BY SCIENCE & TECHNOLOGY INDUSTRY
The strong Science & Technology (S&T) industry base in Cambridge has shaped the city’s residential rental market. In 2020, 69% of lettings in Q4 were increased significantly by tenants working across Science & Technology.
The Covid-19 crisis has driven highly-skilled employment opportunities in Cambridge. Throughout the pandemic, the rush for talents has led to quicker recruitment in the city’s university Research and Development buildings and across its science parks. This increased the rental demand as well.
The change in tenant profile is also partly because of the growth of S&T research and science parks. Many S&T companies and international workers choose to locate in Cambridge. [4]
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