Forget the rent, buying a home in Cambridge is a dream for many, but it’s not cheap. Prices in the city are rocketing, and it’s making owning a slice of the famous university town a serious challenge for many.

The latest figures from GoCompare Home Insurance show just how much you’ll need to shell out for a home in Cambridge. Let’s break down the average prices:

• Semi-detached house: Brace yourself, because the average price for a semi-detached house in Cambridge is a whopping £574,218. That makes Cambridge the second most expensive place to buy a home in the whole of the UK, just after London.
• Flat: Buying a flat is still a big commitment, but it’s a bit more affordable than a semi-detached house. The average price for a flat in Cambridge is £306,332.
• Terraced house: A terraced house in Cambridge will set you back an average of £483,089.
• Detached house: Want the ultimate luxury? Be prepared to pay a whopping £940,870 for a detached house in Cambridge.

Why Are Prices So High?

So, why is Cambridge so expensive? Well, it’s got a lot going for it. The world-famous University of Cambridge is a big draw, with its stunning colleges, including the iconic King’s College Chapel. But the city has a lot more to offer than just academics.

More Than Just a University Town

Cambridge is also a beautiful place to live, with charming streets, a vibrant market, and a ton of independent shops and restaurants. You can enjoy punting along the River Cam, soak up the historic architecture, or indulge in delicious food at one of the city’s two Michelin-starred restaurants.

And while it’s not cheap, Cambridge is well-connected to London with easy train journeys and buses.

The Bottom Line

Living in Cambridge is a dream for many, but it comes at a price. If you’re thinking of buying, be prepared to dig deep and see if you can afford it. But if you can, you’re in for a treat in this unique and stunning city.