Foreign investors buying new houses in Cambridge and "leaving them empty"

Home Truths Credit: ITV

Today's skyline over Cambridge is as dominated by new cranes as it is with ancient spires.

The changing landscape reflects the demand for homes - but like the cranes their price is always rising.

Duncan Stott moved to Cambridge to take up a job in the area's booming tech industry, but like others who move for work, he's finding the city's popularity is pushing up prices. Unable to buy a home, he's renting.

An average home in Cambridge now costs £419,000 Credit: ITV

An average home in Cambridge is now 419 thousand pounds. Only London is more expensive. And yet despite the prices, houses continue to sell. In fact, Cambridge is now the fastest selling city in Britain, according to the property website 'Rightmove.'

New housing, such as developments by the train station, is meant to ease the pressure. But not everyone buying a house wants a home.

With prices continuing to rocket, estate agents say Cambridge is now seen as an excellent financial investment - and with the city's international reputation, buyers are flocking from all over the world.

New homes in Cambridge are meant to ease pressure on the market, but some are being left empty as investments Credit: ITV

It's not just Haart seeing interest from abroad. ITV News spoke to a number of estate agents who, on average, reported around 30 percent of residential sales were to overseas buyers.

The head of housing at the City Council told ITV News it's time the government took action to deter buyers from leaving houses empty

Cambridge is one of Britain's major success stories. Its technology and pharmaceutical industries, as well as its famous university attract people from all over the globe.

But that fame is coming at a price, and one many are unable to pay.