Ipswich

[IP Newcomer]

Ipswich seems to have had a bigger than average spring bounce.

A number of properties which seemed to have been on and off the market for some time seem to have been sold. I'm not sure why this has happened. Sure enough there has been an uptick in asking prices, although the achieved prices don't seem to have gone up (although this may lag). This surprises me as if anything the for sold prices had been edging down.

We had one house that sold at the record for the street about two years ago (£125K - not a great street) that had to go on the market last year and they were maxed up and could not afford to lower the price, so off it went - twice. Now it's come back on and sold within the fortnight. I would guess that it must be close to the old price. Another house across the road from us went on the market last year at £100K, and I was looking to buy if I could beat them down, and was told that they would accept £90K for ready cash. It was bought by some small scale developers and is now on the market after refurbishment for £130K. I'd be surprised if it breaks the street record as it's still a poky house compared to the others, but it shows some confidence.

Another very odd thing to happen has been a big increase in property to let. This would seem to contradict the first point about all the sold properties. Rightmove rental properties have certainly increased - although that may be because a lot of pure rental agencies have only recently gone on the web site.

I've not converted from the bear cause - the fundamentals are still out of whack and if anything they're getting worse - I'm just very puzzled. Also my anecdotal experience of London (I commute and seem to have a lot of work colleagues active in the housing market at the moment) seems to be that property is proving hard to shift after a bit of a spring bounce in Feb and March.

Sorry I can't offer a coherant picture. Does anyone have a clue what's going on in Ipswich?

[delboypass]

Whats going on in ipswich??

As far as i remember - huge influx of asylum seekers and 50% of population on benefits.

The only thing that keeps ipswich afloat is its BT martlesham, insurance companies and its closeness to London.

I wouldnt live there if someone paid me a million pounds a year

I especially wouldnt buy one of the many ex council houses in council estates for £150k or however much they are going for.

I expect to see Ipswich hit very badly during a recession and am looking forward to it to be fair!!

[astos]

[

I expect to see Ipswich hit very badly during a recession and am looking forward to it to be fair!!

Here, Here ! It's a terrible place. I hear they had a lot of trouble recently with some kind of beetle infection in the coucil house stock. It worries me that it might spread to other parts of the UK.

[FreeNapoleon]

If you get out of Ipswich (always a good idea), further north towards Norfolk border, the market for both sellers and landlords is still very strong indeed. Still alot of life in the boom bugger.