Property market in Sudbury set for boom says expert
A partner at Sudbury’s newest estate agents has predicted the property market in the Sudbury area to boom.
“The property market is fast-paced, and things can change quickly, but one thing that’s clear is that the market town of Sudbury is set to outperform the property market in the next few years,” said Fenn Wright managing partner Alan Williams.
“In recent times we have experienced a wave of buyers moving out from London into the county of Essex and to fast growing commuter towns like Chelmsford and Colchester.
“However, there is also a second wave of buyers, who initially gravitated to areas that allowed easy station access.
“They are now considering compromise on travel if that means they can reside in a town that retains its traditional feel and charm amid beautiful surroundings – country living at its finest.
“This is a trend which reflects the demand for work/life balance and rise in home-working, and as a result, the train is only required for commuting two or three days a week.”
Mr Williams said Sudbury, in particular, benefits from the charm and character of a Suffolk market town, with its history, culture and picturesque walks alongside the River Stour, but with access to the city, as well as proximity to Cambridge and Bury St Edmunds
Prices in and around Sudbury are more affordable so buyers get more house for their money. Currently, the average price for a two bedroom flat in the area is £140-150,000 and for a three bedroom house £230-250,000.
Mr Williams added: “We foresee that the continued demand for this lifestyle will ripple out further from the immediate commuter towns to places like Sudbury. This suggests that prices will also rise to reflect the fact that some commuters are ready to trade off a slightly longer commute for a better lifestyle.”