Peterborough property market – The up and coming commuter city

My family and I live 15 minutes outside Peterborough and regularly use it for shopping and commutes to London but strangely enough, up until a week ago I had never eaten out in the city. Part of this is due to the pull of Stamford 15 minutes in the other direction but there was also a lurking doubt that Peterborough would deliver a good night out. How wrong I have been.

Let’s be clear here, I’m not talking about a serious drinking session in bars and clubs (that may be possible, but I’m too old for that!) but a good dinner, in a comfortable setting, surrounded by nice people.

The pedestrianised area around the Cathedral has be updated in the last year or so and with it has seen the arrival of some great new eateries such as Cote Brasserie, Bills bar and notably the Michelin star rated Prévost.

What makes Peterborough an up and coming location?

They say that the arrival of a Waitrose in town is a sure sign that a place is ripe for investment. Peterborough has had one for many years (albeit the swanky new superstore by the station was a step up indeed), but the arrival of classy, genteel eateries in the heart of the City is a promising symbol of Peterborough’s growing popularity amongst middle class professionals.

This has been reflected in house prices, where the UK HPI reported that Peterborough’s houses over the year to October 2017 rose by 7.8%; significantly higher than the national average in the same period of 4.7%.

Where is popular to live for singles, couples and professional families?

Popular areas for professional families include Longthorpe, Orton Longville and Westwood Park Road in the centre of town and Caistor, Glinton and Alwalton in the surrounding area. For singles and couples there are a number of smart new apartment developments close to the station.

With the city being gentrified, having excellent train links to London (Kings Cross in 46 minutes and reported to get faster) and affordable prices (average house price of £184,000 compared to £240,0000 across England); Peterborough is an interesting option for those looking for a home from which to commute to London.

I for one, will be enjoying more evenings out there from now on and watching with interest as property prices continue to rise.

To find out more information about Garrington and property prices in Peterborough, please get in touch to find out how we can help.

 

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