Opinion: Suffolk new homes market to stay hot for summer
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Just as it looked as if there was no end to the cold snap in sight, the warm weather finally arrived and it’s now beginning to feel a lot more like summer.
The balmy temperatures and bright sunshine will be a welcome relief to the millions of people who have decided to spend their holidays in the UK this year.
Uncertainty over trips abroad mean that many more of us will be staying a little closer to home over July and August. With long stretches of coastline, glorious countryside, a rich heritage and award-winning restaurants and pubs, it’s likely that Suffolk will be many holidaymakers’ destination of choice.
The strength of the housing market over the last 12 to 18 months has highlighted just how popular this part of the world is becoming.
The coastal markets and tourist hotspots such as Felixstowe, Woodbridge, Aldeburgh and Southwold have been particularly strong, but there has also been high levels of demand in the villages of the Dedham Vale and those on the outskirts of Ipswich.
Visitors venturing to Suffolk for the first time may well be tempted to put down some long-term roots and it will be interesting to see how that impacts on the housing market as we move towards the end of this year and into 2022.
Currently, new sales agreed remain well above the pre-pandemic norm and there are a record number of transactions with solicitors. Even with the stamp duty deadline looming there is little sign of the pace slowing.
The number of buyers is at an all-time high and demand continues to outstrip supply. Consequently, those properties that are available have been highly sought after.
The speed at which sales have been agreed has also been extraordinary. From launching a property, arranging viewings, receiving an offer and agreeing a sale – in many cases this is happening all within the space of a week.
The most recent restrictions only appear to have reaffirmed people’s desire for more space, while the lifestyle on offer here in Suffolk – with easy access to the countryside and coast, its relative value for money when compared to elsewhere and its transport links into London for when people need to commute into the office – will ensure the county continues to be highly desirable.
We have several exciting new schemes that we expect to generate considerable interest. Already on the market is Balfour Place, four fabulous properties on the coast at Felixstowe Ferry Golf Club and 27 homes by Hopkins and Moore at Lark Grove in Somersham, while future sites include 10 new homes in Hacheston by B. W. Projects Limited and eight apartments in Great Cornard by Willow Walk Homes.
There remains significant unmet demand and that’s unlikely to change anytime soon. Suffolk continues to be a hot destination and the housing market looks set to sizzle well into summer and beyond.
For more information or advice about the new homes market in Suffolk contact Max Turner at Savills Ipswich on 01473 234826 or by email at MTurner@savills.com