Top rents in Cambridge have risen by twice the amount of the city’s nearest regional competitors since 2009, according to research from Savills.
Cambridge has seen rents rise £12 per sq ft in the past eight years – an increase of 48% to £37 per sq ft.
Rents in Edinburgh, its closest rival outside London, have grown £6 to £33.50 in that same period.
Cambridge’s exceptional growth extends to office capital values, up 61.5%, and house prices, up 80% since 2009.
Its market is underpinned by capital continuing to target biosciences and pharmaceuticals, attracting more investment per capita into those sectors than any other hub in the world.
While weekly earnings in Cambridge are now 13.6% above the UK average, it is comparatively cost effective compared to similar cities elsewhere in the world. A software development engineer’s salary in Cambridge, for example, is 32% below that of a similar role in Chicago.
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