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Regional Property Market Update Summer 2021: Essex, Norfolk and Suffolk

Posted on: Thursday, June 24, 2021


2021 is set to be one of the busiest sales years in over a decade

Agents report the sales to stock ratio across the East of England is at a record high (RICS). At 3.7%, the annual rate of housing stock turnover across Essex, Norfolk and Suffolk is above the UK average. Levels currently exceed 4% in the most active markets.

 

Essex Norfolk and Suffolk annual rate of price change regional property market report statistics

 

Price growth strengthens

Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK.

Year-on-year price growth across the East of England is substantially stronger than the 0.4% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in six local areas in the Essex, Norfolk and Suffolk region. 

 

Essex Norfolk and Suffolk annual rate of price change regional property market report stats

 

A seller’s market

Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the East of England is 43 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.

 

VIEW THE ESSEX NORFOLK AND SUFFOLK REGIONAL PROPERTY MARKET REPORT

 

Properties for sale in the Essex, Norfolk and Suffolk region of the UK

Ipswich, Suffolk, 5 bedrooms

This distinctive detached residence of substantial proportions is located within a desirable prime residential avenue to the Northwest of Ipswich. Impressively extended and remodelled to a superior standard throughout and situated in grounds approaching a third of an acre, the exquisitely styled living space is arranged over three levels. Key features include an open-plan lounge-kitchen-diner, an elevated balcony roof terrace, home office, cinema/games room and an extensive garden with a heated swimming pool, entertainment patio and summerhouse.

Brentwood, Essex, 7 bedrooms

This exceptional family home sits behind electric gates and boasts a total of seven bedrooms arranged over four levels, including a large basement. Beautifully presented throughout, having been fully refurbished by the present owners to a luxurious standard, the range of accommodation and level of finish is superb. It is also rare to find a property of this size within such short walking distance of Brentwood Railway station and within easy reach of local schooling.

Braintree, Essex, 6 bedrooms

This delightful home in Braintree benefits from an annex plus three reception rooms, a huge living area and six double bedrooms. There is also a recently fitted kitchen, three bathrooms, a conservatory and a private garden.

Contact us

Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.

 

 

What Our
Clients Say

"

I would highly recommend Hardings. Their knowledge of the local area is outstanding, and they give honest and reliable advice. They have always been my partner of choice when buying and selling.

Rhiannon Prothero

"

Have used Hardings for many year on both personal and commercial property deals. Have always found them to be transparent, honest, authentic, and a pleasure to work with. Will continue to use in the future.

TB

"

I would highly recommend Hardings Estate Agents. They have excellent knowledge of Windsor and the surrounding areas, and are extremely professional, responsive and courteous. I would not hesitate to using them again the future. I recently dealt with Milica who was instrumental in securing us our new home in Windsor as well as the sale of our existing property. She was a fab negotiator and a real pleasure to work with from beginning to end. Thank you!

Jonathon Beresford

"

Hardings of Windsor managed our purchase with complete professionalism and went over and above in my opinion to manage the transaction and chain, resulting in a really smooth purchase. Milica at Hardings constantly provided timely updates and managed respective solicitors and the chain effectively, always responding quickly to queries. The whole transaction would not have happened without Milicas' focus on making all parties comfortable and satisfying all queries, not only professional but a delightful and welcoming personal approach that was a constant throughout. Thanks Hardings! Thanks Milica!

Stuart Blatch

"

I would recommend using Hardings estate agents when buying or selling your property. Dominic (Scully) was always available, helpful and genuinely interested in my purchase and always calm and compassionate. If I ever move again my first choice will be Hardings.

Cath Powell

"

Dom and the team at Hardings were so helpful and efficient when I purchased my flat - friendly and professional service and kept us up-to-date the whole way through the process. It was my first time buying and so was very nervous but they helped me feel at ease.

Freppell

"

We bought and sold through Hardings and can't recommend their professional service enough. The whole Team are really lovely, we were kept informed throughout the process and never had to chase anything.

Natalie Quint

"

I used Hardings when I bought my property as well as when I sold it and the service has been fantastic both times. I very much recommend Hardings!

Therese Jouini

"

We recently purchased our new home with Hardings Estate Agents. The whole team there were very helpful and flexible with us, arranging viewings quickly on the same day. They were always quick to respond and if ever our point of contact was not there, the service did not change as they work well together as a team. We received a personalised service, which allowed the sale to proceed quickly. Thank you all and we recommend Hardings Estate Agents without hesitation.

Mike B

"

What a pleasure it was to deal with Milica from Hardings. She sourced the perfect property for me and my family (while we were still abroad) and worked endlessly to put the deal together. I would give more than 5 stars if at all possible!

C D

"

Fantastic customer service and made what could have been stressful a total breeze. Dominic and Louisa were brilliant in helping me and my parents buy and sell our houses - reliable, helpful and thoughtful. Thank you!

Eloise Harris

"

Thank you, Dominic and Louisa - having not moved for over 30 years you helped me all the way, step by step. You were always polite, communicative, reassuring and very supportive. Would recommend Hardings wholeheartedly.

Anna Bowen
How Much is Your Property Worth?

How Much is Your Property Worth?

A senior member of our sales team will visit your property to discuss current market trends and how your home; based on size, condition and location should be pitched to achieve the best possible price and buyer. Coupled with an excellent understanding of the local market we do a detailed analysis of what else has sold and what is coming onto the market so we can give you the best chance to capitalise on your biggest asset.

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