Is Ipswich Fulfilling Its Potential As A Property Hotspot?
Just over a year ago, Ipswich was hailed as a property hotspot to watch over the next decade; with experts predicting house prices could soar in the area.
A survey was conducted by HouseSimple, mapping out 10 areas in the UK where untapped potential and lower house prices could spark a boom in demand, with Ipswich appearing among the most promising areas.
At the time, the survey highlighted key features, such as the growing student population, development plans for more than 15,000 homes and strong public transport links with London, Cambridge and other desirable areas. Coupled with the regeneration of the Ipswich Waterfront, it was clear why experts would have considered Ipswich to be up and coming.
Last year’s story reported that demand was outstripping the supply of available properties, but is Suffolk’s county town living up to expectation?
One Year On
A year on and the prophecies do appear to be coming true, with eMoov’s National Hotspot Index listing Ipswich in position 4 of its Top 10 hottest property spots for the first time. Rising house prices in London, followed by changes in stamp duty legislation and income tax allowances for landlords, have caused something of a ripple effect, which has led to properties in IP postcodes becoming a valuable commodity for homebuyers, either looking to live in, or let out their property.
University Campus Suffolk has also seen a rebrand of sorts, becoming the first independent university in Suffolk, further boosting its profile in the national university stakes. Without doubt, this has lifted the town’s housing market (particularly around the Waterfront) and provided a boost to local businesses, creating a real buzz in the area.
The Expert’s View
Jamie Redbond, director at Nicholas Estates, commented that “Although nearing Christmas, the property market in Ipswich is particularly buoyant, with many buyers coming from outside the area seeking more favourable house prices”.
“Low crime rates and popular destinations – such as The Waterfront, Christchurch Park and Felixstowe being only a stone’s throw away have contributed to growth in the town’s housing market. It’s an exciting time to sell and rent property in Ipswich, and we see this trend continuing in 2017”.
The next decade looks very positive for Ipswich and the surrounding area. Development is continuing apace, matching a high demand for properties and with house prices rising, the town looks set to continue its climb.
For more information on Ipswich, Felixstowe and surrounding villages property market, please call Jamie on 01473 215743 or visit nicholasestates.co.uk