The summer is often a slower time in the UK housing market, but this means it is a good time to take stock. At Coakley & Theaker, we aim to provide you with as much guidance and support as you need in the housing market, which means we need to be informed.
If you want to put yourself fully in our hands, you can do so, that is what we are here for. However, we know many people want to make an informed decision in the housing market, which is why we are more than happy to discuss the local property market, and how it can fit your needs.
To arrange an appointment, get in touch, and we look forward to supporting you as best we can.
As at the end of July 2023, Rightmove said the following about the Bury St Edmunds housing market;
“Properties in Bury St. Edmunds had an overall average price of £359,776 over the last year.
The majority of sales in Bury St. Edmunds during the last year were terraced properties, selling for an average price of £323,273. Detached properties sold for an average of £524,120, with semi-detached properties fetching £324,760.
Overall, sold prices in Bury St. Edmunds over the last year were 6% up on the previous year and 10% up on the 2018 peak of £326,725.”
For Suffolk, the leading property portal said;
“Most of the sales in Suffolk over the past year were detached properties which on average sold for £487,184. Terraced properties had an average sold price of £253,387 and semi-detached properties averaged at £300,632.
Suffolk, with an overall average price of £341,027 was more expensive than nearby Norfolk (£319,942), but was cheaper than Essex (£428,468) and Cambridgeshire (£380,007). The most expensive area within Suffolk was Walberswick (£1,165,750) and the cheapest was Brandon (£232,544).
In the past year house prices in Suffolk were 8% up on the year before and 14% up on 2020 when they averaged at £297,990.”
Property in Bury St Edmunds is around £20,000 more expensive than the Suffolk average, but far more affordable than some areas in Suffolk such as Walberswick.
We think there are many great things to consider in the local market, and we are on hand to help you decide what you want to do next. There is still demand for homes in Bury St Edmunds, so if you are a current resident considering selling up, we are here to ensure you make the right move, at the right price.
At Coakley & Theaker, we aim to support the local community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today by calling us on 01284 769691.