Revealed: Where house prices have risen fastest in Suffolk in last decade

The Bank of Mum and Dad is helping people to get onto the housing ladder

House prices in Suffolk have increased over the last 10 years - Credit: Getty Images/iStockphoto

House prices across Suffolk have soared by as much as 60% in some areas over the last decade, government figures have shown.

All areas of the county saw large increases in average house prices, according to the latest figures available from the Office for National Statistics.

In Ipswich, the median price paid for a house in June 2020 was 60% higher than that of 10 years prior, with the figure rocketing from £125,000 to £200,000. The average price of a detached property rocketed by more than £100,00 from £214,000 £320,000 – while the price of a semi-detached increased from £136,000 to £220,000.

In East Suffolk prices rose from £170,000 to £240,000, with both detached and semi-detached properties increasing by 40.5% and 47% respectively.

All other areas of Suffolk now have house prices higher than the England average – with West Suffolk's figure having been below the average back in 2010.

There, house prices rose from £165,000 to £250,000. The national average rose from £175,000 in June 2010 to £246,000 this year.

In Babergh, the average price paid rose from £185,000 to £279,950 – while prices in Mid Suffolk increased from £175,000 to £260,000.

RMG Photography - July 2017Savills - Staff portraits - 2017.Pic - Richard Marsham/RMG Photography

Tom Orford, residential team leader at Savills Ipswich - Credit: Richard Marsham

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Tom Orford, residential team lead at Savills Ipswich, said the excellent schools and good quality of life offered in Suffolk is drawing people into the county and boosting house prices – although the majority of his customers are people wanting to remain in Suffolk.

Mr Orford said: "Over the last 10 years Suffolk has experienced consistently strong house price growth that has been on par with – or in excess of – the national average.

"There have obviously been ups and downs along the way, but even this year, against all expectations, we have been incredibly busy.

“If 2020 has taught us anything it’s that we never quite know what’s around the corner, but I think the outlook is encouraging.

"The most recent lockdown – rather than cause a pause in the market – appears to have only reaffirmed people’s desire to move, particularly if they have one eye on beating the stamp duty deadline of March 31.

"As a consequence, while the uncertain economic and political backdrop is likely to mean the market remains price sensitive during 2021, we expect activity to be relatively strong into the spring.”

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