Whether you plan on making a move in the property market or not, there is a lot to be said for knowing local house prices. If you are moving soon, you want to make an informed decision. If you aren’t planning on moving, this information can provide you with comfort and confidence about plans.
As Bury St Edmunds property market specialists, we are pleased to keep you fully informed as to what is happening in the local market.
According to figures provided by Zoopla, in the past 12 months, the average price paid for a property in Bury St Edmunds is £318,428. This is the figure accrued over 1,481 sales, while the site lists the current average value of Bury St Edmunds property as £326,189.
Of course, while the average price of a property in an area is compelling, it may not provide you with useful insight. If you are looking to buy or sell a flat, the price of detached properties in the area isn’t relevant. Therefore, it is of benefit to break down the average price into prices for specific property types.
The average price paid for flats in Bury St Edmunds, in the past 12 months is £185,149, and for terraced properties, the average price paid is £258,228. Semi-detached properties hold an average price of £267,147 and for detached properties, the average price paid in the past 12 months stands at £407,682.
An indication of the properties available on the market in Bury St Edmunds can be seen in the number of sales of each property types, according to Zoopla figures, which are shown below:
· Number of flats sold in Bury St Edmunds in the past 12 months: 90
· Number of terraced properties sold in Bury St Edmunds in the past 12 months: 372
· Number of semi-detached properties sold in Bury St Edmunds in the past 12 months: 400
· Number of detached properties sold in Bury St Edmunds in the past 12 months: 617
While this won’t cover all property transactions in Bury St Edmunds, it offers a snapshot of the market, providing a starting point for any move you wish to make. If you are interested in finding out the value of your home, we have an instant value tool which will let you know straight away.
One area that is of considerable interest in the property market is current asking prices. While asking prices are usually higher than the sales price these days, this is useful information to have, allowing you to plan a course of action.
The average asking price for one-bedroom properties in Bury St Edmunds is £141,622 while for two-bedroom properties, it is £214,959. For three-bedroom properties, the average asking price is £312,562, and for four-bedroom properties, the average asking price is £478,055. Anyone with interest in five-bedroom properties in Bury St Edmunds will find the average asking price is £557,495.
If you want to ensure you make informed decisions in the Bury St Edmunds property market, contact Coakley & Theaker. We are local estate agents, and we look forward to helping you sell your home.