Latest prices in Mid Suffolk for flats and apartments
The latest figures show that the average price for a Flat & Apartment property in Mid Suffolk has now reached £142,823 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.
Average prices for a Flat & Apartment property have increased substantially over the longer term in Mid Suffolk. Back in January 1995, prices for this type of property averaged £34,640 based on sales at the time. Fast forward to January 2024, and averages reached £143,312 - representing a growth of 314% over 29 years.
This substantial triple-digit percentage rise in Flat & Apartment property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Flat & Apartment homes in Mid Suffolk over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Flat & Apartment prices in Mid Suffolk over the last 12 months
Date
Price
Apr 2023
£151,505
May 2023
£151,220
Jun 2023
£150,532
Jul 2023
£149,732
Aug 2023
£148,186
Sep 2023
£145,000
Oct 2023
£144,330
Nov 2023
£143,807
Dec 2023
£143,504
Jan 2024
£143,312
Jan 2024
£143,312
Feb 2024
£142,823
Recent trends for prices in Mid Suffolk
The latest figures from February 2024 indicate the property market in Mid Suffolk continues to show rising price trends. Compared to January, 2024, average prices increased by 1% to £306,651. On an annual basis, average property prices have decreased -0.6% since 12 months ago.
In terms of sales activity, there were 52 residential property transactions completed in Mid Suffolk during February, 2024. Of these purchases, 20 were financed with a mortgage while 12 were all-cash sales. For cash buyers, average prices have changed by 0.8% since January, 2024, coming in at around £302,266. For properties purchased with a mortgage, the average price changed by 1.2% since January, 2024, to £308,915.
Compared to the overall picture in its national parent England, the average property price in Mid Suffolk are higher than the current national average of £297,735. While Mid Suffolk saw a change of 1% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, less than the -0.6% yearly change seen in Mid Suffolk.
Interested in purchasing a property in Mid Suffolk? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Mid Suffolk by housing type
Prices last recorded in February, 2024
average
£306,651
detached
£431,953
flat
£142,823
semi-detached
£269,445
terraced
£220,733
Prices by housing type in Mid Suffolk
Recent data shows that price growth has varied across different property types in Mid Suffolk over the last year. For terraced houses, property prices changed by 0.9% between February 2024 and January 2024 to reach £220,733, and changed by -1.6% over the last 12 months. The annual change was less than the -1.7% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £269,445 in January 2024. This represents a 1.3% change from the same month last year.This is outperforming the 0.2% annual change in semi-detached values across the country.
Detached homes in Mid Suffolk gained 1% month-over-month to reach an average of £431,953. Annually, detached property values have changed by -0.4%. This is stronger price growth compared to England's -0.5% change for detached houses over the year.
For apartments and flats, average prices increased by 0.5% between February and January 2024, hitting £142,823. Over the last 12 months, apartment values have changed by -3.7%, lagging England's flat and apartment growth rate of -2.8%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of 0.3%, while flat properties lagged, with a change of -3.7%.
Recent purchases in Mid Suffolk
According to data from HM Land Registry, there were 52 completed property purchases in the area of Mid Suffolk in February 2024. Of these sales, 12 were recorded as cash purchases whilst 20 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 0% and the percentage of properties purchased with cash has changed by -1.9%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in mid-suffolk.
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