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Oliver Rouane-Williams speaking with an elderly couple in the town centre

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Ipswich house prices drop 7.1% in a year, the biggest fall in East of England

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Ipswich.co.uk Logomark in a circle

Ipswich's only independent news website

We publish the stories that matter and champion everything that's good about our town – without the ads, popups or tracking

Ipswich homeowners saw their property values fall 7.1% over the past year, the steepest decline in the East of England. The average house price in June was £218,253, down 0.8% from May.

The big picture: While house prices across the East of England and UK rose slightly in June, Ipswich bucked the trend with a 0.8% monthly decrease.

By the numbers: Data from the UK House Price Index shows:

  • The average Ipswich house price in June was £218,253

  • The average sale price has dropped by £17,000 over the past year

  • £192,000: The average spent by first-time buyers, £15,000 less than a year ago

Zoom in: Property types seeing the biggest falls:

  • Detached houses: down 1.2% monthly, down 7.8% annually (average £376,112)

  • Semi-detached: down 0.9% monthly, down 6.5% annually (average £248,590)

  • Flats: down 0.9% monthly, down 8.8% annually (average £143,461)

Zoom out: Ipswich property prices are now 35.7% below the East of England average of £339,000.

  • England house prices rose 0.6% from May to June 2024 (non-seasonally adjusted)

  • This is down from 0.7% growth in the same period last year

  • Seasonally adjusted prices increased 0.1% month-on-month

These figures show a slight cooling in the England housing market compared to last year, but prices are still rising nationally.

Why it matters: For most homeowners, their home is their biggest asset, and for first-time buyers, house prices dictate affordability. House prices also have a huge influence on our local economy, impacting multiple sectors, and often acting as an indicator of the desirability and demography of an area.

Yes, but: Price drops aren't universally negative. Lower house prices can attract new residents and get people onto the property ladder.

What they're saying: Farida Rouane is an Ipswich-based financial advisor and mortgage advisor at Upside Finance who's been helping Ipswich residents get on the property ladder for more than a decade. She said:

Opinion

This is a great opportunity for buyers in Ipswich.

With the base rate dropping for the first time since March 2020 at the beginning of August, we're seeing lenders reduce their rates.

Some are even offering sub-4% rates now.

This, combined with the recent dip in house prices, could make it an ideal time for first-time buyers or those looking to move up the property ladder in our area.

The bottom line: Ipswich house prices will be cause for concern for some but an opportunity for others.

Oliver Rouane-Williams speaking with an elderly couple in the town centre

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College students launch 29 community projects during social action month

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Students at Suffolk New College have created 29 social action projects this month, including an anti-knife crime basketball match and a charity thrift shop.

Why it matters: The college-wide programme aims to make a positive difference in the local community while promoting sustainability and addressing social issues, such as knife crime.

The details: The campaign kicked off with a staff-versus-student basketball match designed to encourage people to unite through sport rather than divide through crime.

Suffolk New College staff member Mike Mears in the staff v student anti knife crime basketball match
Suffolk New College staff member Mike Mears in the staff v student anti knife crime basketball matchSuffolk New College

Anton Dixon, basketball coach for Suffolk New College, said: "The game was a huge success, bringing energy, competition, and most importantly, a strong sense of community.

"Beyond the game, this event was about more than basketball. It was a celebration of the hard work and dedication these young people have shown all year, committing to something bigger than themselves, building a community in a space that encourages growth, respect, and positive change -- that rejects crime."

Marley Gunn, 18, from Ipswich, who played on the student team, said: "Sport gives me a safe environment and gives me something positive to do with a group of friends."

Staff members narrowly defeated the students in the match.

What else is happening: All social action activities have had a sustainability theme, including:

  • Art and design students establishing a thrift shop to raise money for Got to Read, an Ipswich-based charity that helps adult learners read

  • Litter picking and river cleaning initiatives

  • Two groups of music students creating charity singles using sustainable materials for St Helena Hospice and the British Red Cross

Jake Smith and Emily Merry-Brown helped create a pop up thrift shop to raise money for charity during a social action month at Suffolk New College
Jake Smith and Emily Merry-Brown helped create a pop up thrift shop to raise money for charity during a social action month at Suffolk New CollegeSuffolk New College

Emily Merry Brown, 18, from Felixstowe, who helped organise the thrift shop, said: "It's great to raise money for a really good cause. The event helped bring the college and the community together. It's nice to support where we can."

Jake Smith, 18, from Ipswich, added: "Sustainability helps make the world a better place."

What they're saying: Hayley Rigby, a personal development co-ordinator at the college who was key in creating the social action month, said: "Social Action Month is all about getting the students to shine a light on injustices in society and highlight sustainability.

"Year three students from across our four college campuses have created projects and this programme of social action has been running for the last four years. The students have been really engaged and positive and we have 29 projects happening this year."

Mike Mears, head of student personal development, added: "At Suffolk New College, we're immensely proud of our students' commitment to sustainability. Through the social action meek, I've seen first-hand the incredible impact of their projects, from litter picks to sustainable fashion. Our college community, including staff, has come together to inspire and drive positive change for a brighter, eco-friendlier future."

The bottom line: The month-long initiative demonstrates how educational institutions can engage students in meaningful community work that addresses important social issues while developing sustainable practices.

Oliver Rouane-Williams speaking with an elderly couple in the town centre

We can't do this without you!

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