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Ipswich Buy-to-Let 2024 Guide

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    Everything You Need to Know About Ipswich Buy-to-Let

    As a small town, Ipswich often flies under the radar. Yet to receive city status, it is situated in the county of Suffolk and is one of the oldest English towns. This sleepy residence celebrates history and heritage while offering all the modernity trappings.

    If you’re considering investing in Ipswich property, it’s important to know the facts about this historical town. This guide will give you a full rundown of Ipswich and buy-to-let in the UK and help you decide if this town is the best option.

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      Ipswich Map

      Buy-to-Let Property Prices in Ipswich

      The UK House Price Index shows that the average UK property is worth £287,546, and Ipswich’s property prices sit below that. According to Rightmove, the overall average house price in Ipswich over the past year was £277,969; this is similar to the previous year and around 16% up on 2020.

      Capital value appreciation has slowed down considerably this year in the UK buy-to-let property investment market, but property experts Savills forecast a return to growth over the next few years. All the same, property in the East of England region is only predicted to grow around 3% by 2027.

      Gain a greater understanding of the UK market with RWinvest’s latest articles and insights! Our expansive resources cover everything from the latest buy-to-let stamp duty rates to the best places to buy to let in the UK.

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      Ipswich Hall

      Buy-to-Let Rental Market in Ipswich

      According to housesforsaletorent.co.uk, the average monthly rent in Ipswich is about £978. This makes Ipswich more affordable for renters than the UK average rent of £1,243 PCM, as per the HomeLet Rental Index.

      According to the BBC, Ipswich has followed the national trend of increasing rents yearly since 2020 and displaying a 6.6% increase since last year. Like many other cities, Ipswich also needs more rental properties to meet demand. Despite this, property prices in the area aren’t low enough to translate these high rental incomes into extravagant rental yields, as they average at around 3-4%.

      Ipswich is not seen as a traditional commuter town for London, but convenient rail links mean the journey can be made in around an hour, adding to the area’s popularity. Ipswich is also conveniently situated to travel to Norwich.

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      Investment Properties for Sale in Ipswich

      The Ipswich rental market offers a variety of property types, including detached and semi-detached houses, as well as terraced properties. As mentioned, prices in Ipswich are slightly lower than the UK average, meaning there could be some solid rental yields on offer for investors.

      In the last 12 months, properties in this region had an overall average price of £277,969. The majority of completed sales were attributed to semi-detached properties, garnering an average price of £280,489. Terraced properties sold for an average of £223,262, with detached properties seeing an average of £453,921.

      In general, sold prices in Ipswich over the past year remained consistent with the previous year and saw a 5% increase compared to the peak of £263,591 observed in 2021.

       

       

       

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        Ipswich Station

        Buy-to-Let Investment in Ipswich: Area Breakdown

        The most sought-after areas in Ipswich Town Centre are the trendy, modern housing around the Neptune Marina and the residential districts by Christchurch Park.

        Suburbs to the North of the town centre include Castle Hill, Westbourne, Whitehouse, and Whitton. In the south, you can find areas like Chantry, Gainsborough, and Priory Heath, which are close to Ransomes Europark. In the east is California and Rushmere St Andrew.

        Further out lies Kesgrave, a town popular with families, and Martlesham Heath, an upmarket village. Woodbridge is another nearby town, distinct from Ipswich, that is popular with commuters to Ipswich and boasts beautiful natural scenery.

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          Ipswich Centre

          Ipswich Town Centre (IP1)

          Average Property Prices in Ipswich Town Centre

          £265,376

          Average Rental Yield in Ipswich Town Centre

          3.67%

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            Ipswich Aerial View

            Whitehouse

            Average Property Prices in Whitehouse

            £231,266

            Average Rental Yield in Whitehouse

            4.49%

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              Ipswich Aerial View

              Chantry

              Average Property Prices in Chantry

              £217,745

              Average Rental Yield in Chantry

              4.46%

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                Ipswich riverside view

                Gainsborough

                Average Property Prices in Gainsborough

                £243,885

                Average Rental Yield in Gainsborough

                4.89%

                Ipswich Park

                Woodbridge

                Average Property Prices in Woodbridge

                £482,187

                Average Rental Yield in Woodbridge

                2.97%

                (Average property prices taken from Rightmove, gross rental yield estimates calculated with figures from housesforsaletorent.co.uk)

                What is the Best Area of Ipswich to Invest in?

                When it comes to the best area of Ipswich to invest in for buy-to-let, it’s important to look at the average property price, projected rental yields, and demand for each area. The towns and villages further out from central Ipswich are popular and upmarket, but the property comes with a hefty price tag, keeping the gross rental yields low.

                Based on the IP1 postcode, Ipswich Town Centre has a fairly low rental yield overall, but this improves in certain inner suburbs, such as Whitehouse, where the average yield exceeds 4%.

                The best yields are typically found in surrounding suburbs, provided it is an area where the property prices are generally lower than the Ipswich average. Chantry and Gainsborough are two areas where good property deals can be found.

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                  Why You Should Consider a Buy-to-Let Investment in Ipswich

                  Regeneration

                  Ipswich’s property market has already benefited from previous regeneration efforts. The waterfront area of Neptune Marina has become an in-demand residential area with modern new builds since a regeneration project started in 2005.

                  Ambitious plans to revamp the town are still ongoing. Suffolk County Council has put aside £11 million for two new bridges and various community improvements. The Ipswich Tow coun cils project is progressing and is expected to be fully completed by 2027.

                  Not only residents but also business owners can reap the rewards of regeneration. Property investors can also take advantage of these schemes by researching which up-and-coming areas will benefit most from a resurgence in the coming years. Investing earlier while the property prices are lower will benefit from increased demand, increased rental income, and sizable capital appreciation when the time comes to sell up.

                  Student Population

                  The University of Suffolk has a campus based in Ipswich, giving a chance for buy-to-let investors to get into student lets. Student accommodation can often offer better returns than an ordinary residential tenancy, as consistent demand is guaranteed and students prefer to share the space with several other renters, as in HMOs, for example.

                  In the case of Ipswich, most students choose to live in or around the town centre. Popular places for students include Cliff Lane, Felixstowe Road, and California.

                  But it’s worth noting that the student population is somewhat limited as the university has only around 5000 students.

                  If you’re wondering, Is UK student accommodation a good investment?‘, take a look at some of our updated articles for the latest information!

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                    Ipswich New-Builds

                    Newly constructed properties have experienced a surge in demand within the UK rental market, capturing the attention of landlords and tenants alike.

                    The majority of these developments require minimal maintenance work before being ready for market, allowing tenants to move in faster and for investors to begin earning rental income promptly.

                    Many new-build projects are integrating cutting-edge eco-technologies to tackle environmental issues. Innovations such as solar panels and air source heat pumps enable tenants and landlords to substantially lower energy costs by generating their own electricity.

                    The last few years have also seen a severe undersupply of new housing to meet growing demand. To address this, many UK cities have begun incorporating new housing development schemes.

                    For example, Ipswich Borough Council plan to build more than 300 new homes before 2025.

                    Given current trends in the market, exploring investments in newly built properties could offer a potentially lucrative option for investors.

                    Nevertheless, although there are some investment opportunities in new builds in Ipswich, a broader range of possibilities may be available in larger investment cities, such as Liverpool and Manchester.

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                      Off-Plan Property in Ipswich

                      Investing in new-build properties often garners significant interest from both tenants and landlords, albeit typically at a higher cost compared to conventional residential properties.

                      One approach to making new-build investments more affordable is through off-plan property investment.

                      This strategy involves purchasing a property before it’s constructed, allowing investors to secure developments at a discounted rate compared to market values.

                      Being involved in the early stages of construction can lead to substantial capital appreciation as the development nears completion. Additionally, there’s a strong demand for rentals, potentially resulting in significant rental yields down the line.

                      The most promising off-plan opportunities are often found in emerging areas with robust regeneration efforts and growing populations.

                      While there’s potential for off-plan investment in the Ipswich rental market, investors might find greater profitability by focusing on UK cities with higher concentrations of new-build developments.

                      Further Reading: Discover more about this investment trend with our recent buy-to-let guides, covering everything from off-plan property in Peterborough to the latest UK hotspots!

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                        How Does Ipswich Compare to Other UK Regions When It Comes to Buy-to-Let?

                        Ipswich is a popular place to live with a growing population, but overall, other areas of the UK offer a much better deal when it comes to investment property.

                        Property in the south of England is significantly more expensive than those in the north, so those seeking more affordable property may want to look to buy-to-let in Liverpool and Manchester, where the average property price is much lower than the UK average. Northern cities can also often offer much more generous rental yields. For example, Zoopla puts Liverpool in the top ten for gross rental yields in the UK, calculating the average to be 7.21%.

                        When it comes to capital value appreciation forecasts, the north also beats out the south. For example, Savills predict that the North West’s property will grow by 20.2% by 2028, while the East of England, where Ipswich is located, is set for 16.7% growth.

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                          Want to Invest in Ipswich in 2024?

                          Ipswich has plenty of attractive features to lure renters, and with regeneration and growing popularity, it could be a town on the rise.

                          But for a safer investment, targeting significant cities in the North, such as buy-to-let in Manchester and Liverpool, may be more lucrative.

                          When it comes to buy-to-let investments, choosing the best area for your venture is one of the most important choices you need to make to maximise returns. Thanks to the rise of hands-off investments using a property management company, staying open to various locations is possible.

                          Choosing the perfect location for your property investment is critical for those seeking lucrative returns. With this in mind, RWinvest has created a range of buy-to-let guides and articles to help you get started with your investment.

                          See some of our latest guides below:

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                          Author

                          Jessica Ferris

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                          Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

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