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June 25, 2018 By Chiltern Associates

Property Prices in Suffolk

While the media may like to discuss what will or won’t happen with the property market across the UK or perhaps what has and hasn’t already happened we prefer to look at things on a more local level. It is very hard to plan around national trends because certain areas will always skew the figures. For most people the London property price bubble causes a false positive when it comes to increasing values and places like Brighton and other burgeoning South Coast commuter towns can do the same. For those of us who work in the property industry in Suffolk and many of it’s wonderful towns and villages the national data can be interesting but is not something to make judgements on in relation to our own county.

We thought it would be useful to pull together some publicly available info on local house prices over the last few years to see how Suffolk stacks up, this will become a blog series with more areas added throughout the year.

Suffolk

Before looking at some towns it is worth looking a the average numbers across Suffolk as a county. Over the last 5 years the average house price has gone up by nearly £62,000. However, the last last 12 months have seen a 1.33% drop. This drop seems to have been arrested as the last 3 months show a smaller figure which will hopefully level out and begin growing again.

Framlingham

Once voted the best place to live in the Country by Country Life magazine, this wonderful market town certainly offers a lot of residents and people looking to move somewhere lovely! Framlingham Castle is a must see for visitors and widely appreciated by long term residents too. The town has lots of history but also plenty of shops, pubs and places to eat.

In terms of house prices if we look over the last 5 years they are up nearly 30% with an overall gain of just over £75,000. However, there has been a recent drop over the last 3 months of a small but important 0.6%. The rate of increase has been slowing for a while and in the last 12 months it has been less than £200. However, it is worth noting that the overall trend is up and the recent changes could be blips rather than anything more meaningful.

Felixstowe

The original hamlet of Felixstowe has stood since before the Norman conquest and is a town with a lot of history. It was once called Walton and was only called Felixstowe retrospectively. A popular destination for tourists the town offers seaside fun with a traditional pier, seafront gardens and sandy beaches. It has good transport links and plenty of places to stay, eat and drink.

Average property prices have also increased over the last 5 years by around £60,000 and the increase has been felt in the last 12 months too with an average increase of 1.72%. However, as with Framlingham the last 3 months have seen average prices fall and more so in this location with a drop of around 1.3%.

 

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Testimonials

‘When I contacted Nina for some advice regarding an issue I was having with a valuation report that had been carried out by another Surveyor on my property, she was quick to respond and very helpful with her comments. When I asked her if she could produce a new valuation report at short notice to replace the first one, she had no hesitation in assisting me and worked around the clock to turn aro… Read more
Thank you so much for this, hope everything is ok with you. We have really appreciate all your time and hard work helping my parents to find a home. All the best.
We were very pleased with the efficiency and quality of the historic building survey prepared by Chiltern Associates for our 17C cottage in Hadleigh. It enabled us to proceed with the purchase with our “eyes open” to the work that will be required. Following Chiltern Associates suggestion, prior to exchange, we also sought advice from a builder experienced with timber framed houses. This review co… Read more
Yes survey all very satisfactory  – thanks again. We are proceeding with the purchase  – but still await the final answers on the searches . Hopefully soon completed and we can exchange/complete. So VERY many thanks for a job well done.
Your report was thorough and helpful. I have been getting quotes for essential works. Many thanks for your help
Dear Nina, Just a quick email to notify that purchase of 2 Nunns Mill Terrace was completed and we moved in 2 weeks ago. All the significant items identified in your snagging report were addressed to our satisfaction and none required clarification. Many thanks for your help. Best regards Smail June 2018
I thought Nina Robinson of Chiltern Associates was excellent- prompt, very professional and thorough. I wouldn’t have any hesitation in using her again or in recommending her to others. Her report was extremely good-detailed, with photos and recommendations for action. She also did some research and gave advice on the value of the property, bearing in mind its condition and sales of comparable p… Read more
Jennie
Many thanks for a very complete report which I have now forwarded to my legal advisor
Greg Peck, National Procurement Manager at National Firm of commercial agents
Many thanks for this and your services, it’s been a pleasure. 2017
‘Thank you very much for your very detailed report. We have taken on board all your concerns and will apply ourselves to put them all right once we move in. Again, we thank you for your time and knowledge.” July 2019

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