Ipswich saw a 1.3% increase in house prices in July, outpacing the East of England average. However, this doesn't reverse the overall downward trend, with prices still down 4.8% compared to last year.
Here's what you need to know:
The average Ipswich house price in July was £222,225
This is £11,000 less than a year ago
First-time buyers spent an average of £195,900
Semi-detached houses saw the biggest monthly rise at 1.3%
Why it matters: Housing affordability remains a key concern for many Ipswich residents. While the monthly increase might offer some relief to homeowners, the continued annual decline suggests a challenging market for sellers.
By the numbers:
1.3%: Monthly increase in Ipswich house prices
0.7%: Average increase across the East of England
4.8%: Annual decrease in Ipswich house prices
£222,225: Average house price in Ipswich
£341,160: Average house price in the East of England
Between the lines: Ipswich's housing market performance places it 44th out of 45 local authorities in the East of England for annual growth. The disparity between Ipswich's house prices and the regional average (34.9% lower) could make the town more attractive to buyers priced out of other areas.
What's next: Potential homebuyers and sellers will be watching closely to see if this monthly increase marks the beginning of a recovery or if the annual decline will continue.
