Revealed: Bury St Edmunds in top 10 for house sales in the UK
- Credit: Archant
Bury St Edmunds has always been a popular choice for house buyers and recent stats show that is only increasing with 1,000 house sales last year.
When the housing market in England reopened in May last year after the coronavirus pandemic, many thought it would crash but it did quite the opposite.
Statistics show that by October, mortgage approvals had hit a 13-year high and November saw 124,800 transactions completed, which was 18,000 more than the five-year average.
Specialist mortgage platform Haysto has analysed latest government data to see which towns saw the highest and lowest rate of property purchases in 2020 and which areas saw the biggest increase and decrease compared to 2019.
Bury St Edmunds was ranked number eight in the UK for the number of property sales in 2020, with 283 property sales per capita.
This has been worked out by the number of property sales in Bury St Edmunds (998) divided by the number of residents (41,554) and then multiplied by 10,000.
Andrew Marsh, Branch Manager of Leaders Lettings & Property Management in Bury St Edmunds, said he cannot see the the popularity of Bury St Edmunds waning.
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Mr Marsh added: "Over the past few years we have found an influx of tenants/purchasers who have relocated to this historical market town, with direct rail links to Cambridge and London those specific renters opt for this more peaceful area of Suffolk, rather than the busy metropolis lifestyle which was once so popular.
"With various new development sites being built around the outskirts of Bury St Edmunds, this provides a further emphasis on those looking to invest in the area, which in turn has really seen the town grow in stature."
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Estate agent Lewis Wingate believes the medieval grid in Bury St Edmunds attracts people to the area.
Mr Wingate added: "It is always going to be an attraction. All the properties there are conserved and listed, which I think will always preserve the kind of curve appeal that goes with them."
CEO of Our Bury St Edmunds Business Improvement District, Mark Cordell, who lives in Bury St Edmunds said the area offers a great verity to buyers.
He added: "Bury is such a popular place to live because it is well situated between bigger cities in Norwich and Cambridge, albeit technically a town, as well as within relatively easy reach of London and the Midlands.
"For a large market town the facilities and the offer of the town is exceptional with a great variety of fabulous Independent and national outlets in the retail and hospitality sectors, as well as many wellbeing businesses and an array of professional services companies.
"In addition the town has a wealth of history and culture plus a Regency theatre and modern concert hall. The town centre has the feel of a village but with all the facilities of a town.
"At a time when the concept of the '15 minute City' is being highlighted, I am delighted to say that this already exists in Bury St Edmunds.”