Revealed: The property hotspots in Suffolk
- Credit: CHARLOTTE BOND
The property market in Suffolk is thriving, with the latest Homebuyer Hotspot Demand index ranking it third in England for buyer demand - that means the proportion of stock listed as already sold (either subject to contract or under offer) as a percentage of all stock listed for sale on property portals such as Rightmove.
But where are the most popular areas to buy?
Henry Cockerton, head of residential at Brown & Co, said: “From our Suffolk office in Bury St Edmunds we’ve seen some strong activity over the past 18 months.
“The prime coastal areas in Suffolk (Southwold, Walberswick, Aldeburgh, Thorpeness) have been hotspots for many years but post-lockdown, sentiment has helped bolster demand further pushing prices ever upward.
“However, it is not just the coastal villages benefiting from the increased demand in rural locations. Saxmundham, Framlingham, Woodbridge and many others are all increasing in popularity. Suffolk has a lot to offer with mostly good links into London and good facilities."
You may also want to watch:
Data from Savills indicates that it's coastal and rural hotspots, in particular, that are fetching the highest prices.
Annual price growth in these areas has pushed Suffolk prices up by 12.2%, just behind Devon (+14.1%), Norfolk (+15.8%) and Cornwall (+16.5%).
- 1 Map reveals raw sewage overflow into Suffolk rivers
- 2 Rail services affected after person hit by train
- 3 Kieron Dyer in hospital undergoing tests
- 4 East Suffolk village garage to be rebuilt as part of homes plan
- 5 'It was gut wrenching' - Mum's Covid message after son, 12, hospitalised
- 6 Hundreds of calls, fighting off interest, a health scare and a missing man - how Town signed match-winner Celina this summer
- 7 Derelict Suffolk railway crossing cottage up for auction
- 8 Why is this Suffolk address on Covid lateral flow test boxes?
- 9 'Not enough thank yous in this world' - mum of baby saved by police
- 10 Woman has heart attack and dies in ambulance waiting for a hospital bed
Peter Ogilvie, head of residential sales at Savills in Ipswich, said: “For now, we continue to be in somewhat of a purple patch in terms of the market.
"The weight of demand from buyers looking to make lifestyle moves, coupled with an acute shortage of stock and record low interest rates, has translated into rapid price growth. And with market momentum expected to continue through to next year, there’s still plenty of opportunity for those who are considering listing their home."
But, he adds, pricing is key: "If set correctly properties will sell. Too high and buyers will stay away, even in the current climate."
Would you like to stay up to date with the latest property news in your area? Sign up to our East Anglian Daily Times newsletter for our pick of the best local property stories.