Woodbridge and Ipswich in areas in demand for Suffolk buyers

Savills has revealed they have seen a reversal of trends noted during the pandemic, with people looking to move back towards towns. 

Peter Ogilvie, head of residential sales, believes areas such as Woodbridge, Bury St Edmunds and parts of Ipswich are seeing strong demand. 

Woodbridge has seen strong demand from buyers this year (Image: Danielle Booden)

He said:  “Interestingly, we’ve seen a reversal this year of what we experienced during the pandemic.

"More buyers are choosing to move back towards towns so they can be close to schools, lots of facilities and good transport links as they start to work from the office again.

"Woodbridge remains extremely popular, as does Bury St Edmunds. We’ve also seen strong demand in Ipswich – particularly in the roads around Christchurch Park where some homes have sold for in excess of £1m.

“Coastal areas also continue to be in strong demand, although second home buyers are slightly more hesitant. The rise in the cost of living and increase in interest rates means that many of these buyers are deciding to sit tight until the economic situation improves.

"Consequently, there is now more stock and at a more attractive price relative to the recent past.

"There has been a little bit of disruption – the proposed onshoring of electricity cables from offshore windfarms and Sizewell C being two examples – but this has tended to be highly localised."

The estate agent added that a slight rise in house prices has been driven by a lack of stock. 

“The most recent Nationwide price index has shown a small increase in house prices in the last month, but I don’t think people should get too carried away," he added.

"The rise in prices has mostly been driven by a lack of stock – a lot of sellers are deciding to take their property off the market for a short period.

"Our most recent research shows that average values for prime property have fallen by five per cent when compared to last year."