PETERBOROUGH: Cheapest Homes in Cambridgeshire

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Peterborough is currently the most affordable place to buy a home in Cambridgeshire, with recent housing market figures revealing a significant difference in average property prices across the county.

Data covering the 12 months to the end of May shows that homes in the PE1 postcode area of Peterborough sold for an average of £211,950, the lowest in Cambridgeshire for any postcode with at least 20 property sales during that period.

This makes Peterborough an increasingly attractive option for first-time buyers and families looking to secure property at more accessible price points, particularly given the city’s transport links and proximity to London via rail.

Just behind Peterborough in terms of affordability is Wisbech, where houses in the PE13 postcode sold for an average of £230,809. Known for its Georgian architecture and market-town charm, Wisbech offers comparatively low prices while remaining well-connected to the wider region.

The third most affordable area is PE4, covering parts of Gunthorpe in northern Peterborough. Homes in this postcode sold for an average of £237,107. Further down the affordability scale, PE16 in Chatteris saw average sales of £241,479, while PE2 in Alwalton recorded average prices of £248,302.

In contrast, the most expensive homes in the county were sold in central Cambridge. The CB3 postcode covering desirable areas such as Newnham, Castle, and parts of west Cambridge had the highest average house price in Cambridgeshire, at £856,345. This was based on postcodes with at least 50 property transactions in the last year.

Following closely behind is the CB2 postcode, which includes Cambridge city centre and areas like Trumpington. Homes here averaged £639,431 in the same 12-month period, placing them among the priciest in the East of England.

The data highlights a stark divide in the Cambridgeshire property market, with a difference of over £640,000 between the county’s cheapest and most expensive postcode areas. While Cambridge’s housing market remains out of reach for many due to demand, limited supply, and the city’s academic and technological appeal, Peterborough and surrounding towns continue to provide more accessible alternatives.

Property experts suggest that demand for homes in Peterborough and Wisbech may increase further as buyers are priced out of more expensive areas like Cambridge. Affordable housing, improved infrastructure, and growing local economies in these towns are expected to attract more residents in the coming years.

The significant variation in house prices across the country underlines the importance of localised market knowledge when buying or selling property. While prestige locations such as Cambridge continue to command high prices, value-conscious buyers are increasingly looking to places like Peterborough for their first step onto the housing ladder.