Estate agents in Suffolk are reporting they are busier than ever as the county’s property market is named one of the hottest in the country.
New data from GetAgent.co.uk shows that the county was third for buyer demand for properties behind Dorset and Northumberland.
In total 73.6% of properties that were up for sale in the county between the start of July and the end of September sold.
Agents in Suffolk are reporting that they are seeing huge demand in the local market with sellers firmly in control.
Steve Scott, partner at Scott Beckett Estate Agents in Felixstowe, said: “I have been in the industry for 35 years and it’s as busy as it has ever been.”
He said they had already sold more homes so far this year than they had done in the entirety of last year, which he described as having been a “good year”.
“We put 13 properties on last Friday,” said Mr Scott.
“Six of them are already under offer at or above asking price.”
He said that 60% of properties were selling at asking price or above within a week.
“I feel sorry for the solicitors and conveyancers, they can’t keep up with demand,” he said.
Tim Day from the Suffolk Coastal Estate Agents in Aldeburgh said that some properties weren’t even making it to market.
“There’s a lot of off-market sales,” he said.
“People are seeing a property and making a bid over the asking place.
“There’s a whole other market.”
Mr Day said he was also seeing properties making it to market selling vastly over the asking price as keen buyers were eager to snap them up quickly.
Peter Ogilvie, head of residential sales at Savills Ipswich, said the latest figures were reflective of the property firm’s own experience.
“Our own research for the third quarter of this year shows that prime coastal and rural hotspots are still outperforming the rest of the country on an annual basis – with prices in Suffolk up 12.2% year on year compared to growth of 8.8% across the UK,” he said.
“Many of the lifestyle factors that have driven the housing market since the start of the pandemic continue to be the main focus for a lot of home moves and strong demand combined with a lack of stock has led to intense competition.”
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