December is a good time to look back, and there is no denying this has been a challenging year in the property market. At Coakley & Theaker, we aim to provide you with the best standard of service and guidance, and if you want to make an informed decision regarding your next move in the Bury St Edmunds housing market, we are here to assist you as best we can.
According to Rightmove, as of the start of December 2022, the Bury St Edmunds property market is performing as follows; “Properties in Bury St. Edmunds had an overall average price of £339,989 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 £294,664. Detached properties sold for an average of £508,884, with semi-detached properties fetching £296,423. Overall, sold prices in Bury St. Edmunds over the last year were 1% up on the previous year and 4% up on the 2018 peak of £326,725.”
Even in a time when the housing market is slowing down, the market can change quickly. This is why it is helpful to look at snapshots of the housing market, allowing people to see what is on offer at a particular time.
The property listings available on Rightmove are not the full market availability for Bury St Edmunds, but it provides a useful snapshot to allow buyers, sellers and people curious about the Bury St Edmunds housing market to see what is going on.
Rightmove has a total of 255 properties listed for sale in Bury St Edmunds, as of the start of December 2022. This list can be broken down across the following property types:
Detached properties: 45
Semi-detached properties: 28
Terraced properties: 75
Plots of land: 3
215 properties listed for sale in Bury St Edmunds have a garden, while 212 properties have a parking space. 180 of properties have both a garden and a parking space in Bury St Edmunds. For anyone interested in a new home, 53 properties listed for sale in Bury St Edmunds are classed as a new home.
If you would like greater analysis of the Bury St Edmunds property market, or you would like to discuss your next move in the local housing market, we are here for you. Please get in touch with Coakley & Theaker and we will do everything we can to ensure you make an informed decision.
James Forrester, Managing Director of Stripe Property Group, commented: “The property market as a whole is certainly starting to show signs of wear and tear following a period of turbulence spurred by increasing economic uncertainty. This has largely impacted the level of buyers entering the market, although we are now starting to see signs that house prices are stuttering. Despite this, the new-build sector continues to demonstrate strength and resilience and not only are a consistent level of new homes reaching the market, but the demand for these homes remains substantially higher than the appetite for existing homes across the vast majority of the nation.”
James concluded by saying; “With as many as a fifth of all new-build properties selling within two weeks in some parts of Britain, the sector looks set to weather the current downturn, with new homes continuing to sell, while commanding robust market values in the process.”
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.