The cathedral city: Ely, Cambridgeshire
Average house price: £361,406; travel time to London: one hour and 20 minutes
Long overshadowed by nearby Cambridge, buyers who rule out this cathedral city in the Fens are missing a trick. Its diminutive size means that it has more of the vibe of a country town, albeit one with a 15-minute hop to Cambridge and within an easy commute of London.
“You have got city life in Ely but without all the rushing and the traffic,” said Mark Peck of Cheffins estate agency. “It is a bit calmer than Cambridge and the prices are a lot lower.”
Exactly how much lower depends on which part of Cambridge you compare it with, but savings range from around 10pc to 25pc.
Central Ely, with its magnificent cathedral, pretty market square and period houses, is attractive. Its suburbs, full of newer homes, are more faceless, but perfectly pleasant.
“The facilities are good – there is a fairly new leisure centre, a cinema, a marina down by the river, lots of sports clubs, and the schools are very good,” said Mr Peck.
Jenny and Jean-Claude Guertin moved to Ely in late 2019 when they bought a four-bedroom modern semi-detached house for £385,000.
Mr Guertin, 46, formerly a fighter pilot with the RAF, was about to leave the air force and they needed a base for them and their children, Charlotte, seven, and Hugo, four. Mr Guertin now trains young pilots while his wife, 42, runs a handmade jewellery company, Sharkie & Bear.
“Ely is such a beautiful city,” she said. “It is the perfect size, with things going on, but a really nice, friendly feel. Everybody knows everybody. It is the kind of place people move to and never want to leave.”
Mr Peck estimated that £350,000 to £400,000 would buy a three-bedroom city centre terrace, while a three-bedroom modern semi a little further out would cost around £325,000 to £350,000.
He said he found the region’s sluggish price growth surprising as he had seen competitive bidding for, in particular, period homes in the city centre. Land Registry figures are not foolproof: they come with a time lag of around six months and low sales volumes can lead to some data volatility. “Ely has always been popular, and during the pandemic it has become even more so,” said Mr Peck.
