Sudbury named millionaire hotspot

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Latest news from the Suffolk Free Press, suffolkfreepress.co.uk, @sfpsudbury on Twitter

Sudbury has been named as a new millionaire hotspot after statistics revealed an increase in the number of properties sold for over £1million last year.

Out of the top 10 areas listed, the CO10 postcode, which includes the likes of Long Melford and Lavenham, was the only area outside of the London commuter belt to see an increase in sales.

The research – by international estate agency Hamptons – found three distinct groups among the top 10 areas – inner London, outer London and the capital’s commuter belt.

Sitting among several London boroughs, Sudbury ranked sixth on the list with an increase of £1million-plus property sales from one to seven and a 12 per cent price growth over the past 12 months.

Johnny Morris, head of research at Hamptons, said Sudbury’s stock of classic Georgian buildings were proving popular.

“Sudbury is seeing demand from a mix of spill over from Cambridge, and the seemingly constant advance of London leavers looking further afield to get more for their money,” he said.