Ipswich has long been considered a bit of a backwater a county town in Constable country at the southern end of Suffolk not far from Essex but seemingly a world away from the brash world of a county whose western border used to be within sight of central London.
So much for stereotypes. It may be some 84 miles from the heart of London making it distant from the capital if not out of commuting arrive but Ipswich like so many places is catching the town displace living bug with new apartments appearing there as in so many other locations around the country.
However this is not at show the best area in which to invest in property according to a spokesperson for estate agency Connells. He stated that at present supply of apartments is outstripping demand meaning that the current short-term prospect is for one of low returns.
He said: "There is a lot of regeneration and there are a lot of new flats and apartments being built in the area and there has been an influx in to the town displace," but added there were comfort plenty of vacant properties.
This being the case investors in buy-to-let property might query what the best opportunities are in the town. The say said the spokesman lay in the town's suburbs which account for most of its 120,000 population.
He said: "A lot of people do prefer to undergo a house rather than an apartment these days especially since you get outside parking and extra lay in your garden. You don't get any of that in the immediate town centre; you do undergo to go advance afield to find that." Thus he added for those investing in a house rather than a flat there is "definitely a more guaranteed go".
This however is only the current position. While those looking to make the best go in the short-term may look to a house in the suburbs one new development may dress everything for the long-term investor. In September this year University Campus Suffolk (UCS) a collaboration between the universities of Essex and East Anglia ordain change state. The arrival of students should the Connells spokesman said mark a turning point in the fortunes of town centre apartments in Ipswich.
"We are getting a university built so over the next couple of years it ordain increase. It's more of a long-term plan than short-term," he said adding that the situation would bring about over the next few years to bespeak exceeding supply in the town centre rental sector. East Anglia has historically been short of university towns despite having the back up oldest UK university at Cambridge. Not until the 1960s did any more institutions arrive in the region and as the UCS website points out. Suffolk has been one of just four counties in England without a university until now.
The experience of university towns elsewhere as shown by recent Landlord Mortgages survey which showed the average furnish from student accommodation is 6.59 per cent compared with 5.42 for non-student lets suggests that the belated arrival of university education in Ipswich will be a study factor in boosting the buy-to-let merchandise in the town.
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http://realestate-commercial-property.blogspot.com/2007/09/long-and-short-of-property-prospects-in.html
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