Terraced home with £395,000 pricetag

IF ever there was a town that embodied the estate agents' maxim that the three most important elements affecting the value of a property are "location, location, location", it is Southwold.

By David Lennard

IF ever there was a town that embodied the estate agents' maxim that the three most important elements affecting the value of a property are "location, location, location", it is Southwold.

The picturesque town on the Suffolk coast has been a favourite spot for generations and there is no sign of any let up.

Indeed, a glance through the property section of the East Anglian Daily Times will quickly establish how much people are prepared to pay to live there.


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Estate agents Flick and Son are marketing a three-bedroom terraced property in Dunwich Road, Southwold, for £395,000.

The home is close to the town's award-winning beach and the High Street and is already generating a lot of interest from prospective purchasers.

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The agents are also selling a similar size property at Leiston that is detached and has a garage for £190,000 – more than £200,000 less than the Southwold home.

A spokesperson for Flick and Son said: "There is such a strong demand for properties in Southwold and we have a waiting list of clients all over the country who only want to purchase properties in the town itself."

Because much of the town is in a conservation area and there is extremely limited opportunity for any new properties to be built it is relatively rare for homes to come on the market.

"Some properties in Southwold are either bought as an investment or used as second homes so it is not that often new instructions become available," said the spokesperson.

The Dunwich Road property is likely to attract interest from people wanting to live in Southwold permanently or use it as a second home.

"The property has been used as a successful holiday let and would suit equally as well as a second home or full-time residence," says the estate agents details.

Also on the books of Flick and Son are a two-bedroom terraced cottage in Lorne Road, Southwold, at £395,000 and a two-bedroom period terrace cottage in East Green at £325,000.

According to the latest figures from Waveney District Council there are 1,229 properties registered in Southwold with 388 being used as second homes.

Southwold Town Council has longed campaigned about the lack of affordable housing in the town but with such a strong demand for properties there is no sign of any easing of the market.

There are intitiatives, however, to provide affordable housing projects in the Southwold area including those at nearby Reydon.

Estate agents are now reporting a "Southwold effect" as nearby towns and villages are seeing an increase in house prices because more people are realising they have little opportunity of purchasing property in the town and are prepared to settle for living as close to the coastal location as possible.

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