Cheffins Residential Sales team is delighted to have achieved one of the highest prices per square metre for a unit in Thoday Street in the Romsey Town area of the city of Cambridge.

Cheffins achieved £7,700 per square metre for the property with a final selling price of £217,500.

However, this is not the highest price achieved for a city property. Richard Freshwater, a Director at Cheffins' Cambridge Residential Sales office in Clifton Road comments:

"While this is a remarkable price, we regularly achieve between £9,000 and £10,000 per square metre for properties in the city. "The Cambridge property bubble is phenomenal at the moment and, as has been widely reported in the national press, is regularly outstripping prices achieved in some areas of prime central London."

There are a number of contributing factors for the growth in prices and the appetite for house in the city; AstraZeneca has made Cambridge its global hub; the city's  international status is drawing overseas investors; buy to let investors are taking advantage of capital growth; Cambride is now renowned as being a city of cultural and academic excellence.

Richard adds: "Everyone is trying to get a foothold in Cambridge and competition among purchasers is creating exceptional sales figures with record sales prices regularly being achieved."

"A few years ago, the Sunday papers were full of stories of houses in London being adapted to fit as much living space into the smallest areas and we are now seeing this on our doorstep here in Cambridge. It's highly likely that we will see more planning applications for residential conversions in unlikely units in a bid to satisfy overwhelming demand from purchasers looking to get on the ladder in Cambridge."