Local market report and housing update
Winter 2022/23
Snapshot & Location
Long Melford is a charming English village located in the Suffolk countryside, nearby to the Essex border. Its long, tree-lined high street is occupied by independent shops, art galleries, antique centres, cafes, restaurants, and pubs. It has a vibrant local community and fascinating history, making it a desirable location for both residents and visitors. It also has abundant green space, with Melford Country Park being a particularly popular spot for people of all ages.
Location Map
Local demographics & economic trends
The population of Long Melford (census super output area; see below for methodology) at the time of the 2021 census was 6,178. This is a 9.1% increase, or 235 people, from the 2011 census. When compared to the 2001 population, this is an even greater increase of 23.0%, or 525 people. The wider Babergh district, where Long Melford sits, has a population over 92,000. Experian forecasts that the population of Babergh will grow by 2.6% over the next five years, or 2,400 people. By 2032, the population is projected to rise to over 98,000, an increase of 4.7%, or an additional 4,400 people.
The population of Long Melford forms an estimated 2,806 households. As such, the average household size is 2.2 people. The majority of households in (Long Melford?) own their home, amounting to 65.0% of the total number. 14.1% reside in social rented accommodation and 19.6% rent privately.
Connectivity
Long Melford is situated between Sudbury (approx. 3 miles south) and Bury St Edmunds (approx. 12 miles north). These towns are within easy reach by car via the A134 and by bus. There are also good road connections to other large towns, notably Colchester, Haverhill and Ipswich. The village of Lavenham is just a 10-minute drive away, providing further leisure options.
The local Housing Market
Sales Market
Average house prices by property type and location
Long Melford
(Babergh District)
Suffolk
England and Wales
Detached
Semi-detached
Terraced
Flat
Overall Average
£531,786
£336,178
£263,443
£143,428
£361,225
£477,448
£296,373
£242,290
£156,155
£310,060
£488,076
£298,211
£253,644
£253,542
£311,074
Source: HM Land Registry (October 2022, latest data)
"During 2021 alone average monthly sales in Long Melford were over 23% above their long-term average"
Chart
Chart
Rental Market
Latest data provided by the Office for National Statistics (ONS, Q1 2022) on private sector rents in the Babergh area suggests average rents of circa £802 per calendar month (pcm). Wider Suffolk average rents are said to be in the region of £771 pcm, making Babergh rents around 4% higher than the surrounding County. Of upper quartile rents, Babergh and Suffolk were both showing average rents of £875 pcm.
Long Melford
The village is a former medieval wool town with buildings dating back to the 15th century. It has 100 listed buildings, many being inns located along the main street. Positioned at the top of the village, the Holy Trinity Church was constructed between 1467 and 1497 in a distinctive Perpendicular Gothic style. Long Melford is also home to two Tudor mansions, Kentwell Hall and Melford Hall.
The median age in Long Melford is 52 years, compared to the national average of 40 years. A high percentage of the population is aged over 65, with 16.5% aged between 65 and 74 and 15.8% aged 75 and over. Across England and Wales, the total proportion of the population aged between 65 and 74 is 10.0% and those over 75 make up 8.6% of the total population, notably lower than in Long Melford. Many of these people have accomplished professional careers or have now retired.
The area attracts a range of ages looking for abundant green and open spaces whilst also offering leisure spaces and a sense of community. As such, there is still a notable younger population in the area. Those aged between 0 and 15, for instance, account for 14.0% of the population of Long Melford, suggesting that the local demographic also includes a number of families. Yet, this number is considerably lower than the UK’s figure of 19.0%.
Location based on nearby top-performing primary and secondary schools is often a very strong factor in deciding where to move and locate, with proximity to the best schools strongly correlated to local average house prices. Research has shown that homes located near top-performing schools can add anywhere from £20,000 - £50,000 to home values.
The average house price in Long Melford is currently £361,225, reflecting a robust 13.3% price inflation over the last year. The house price premium in Long Melford is currently around 16.5% compared with the wider Suffolk prices. This reflects the strong demand for Long Melford, how popular the area is and how unique the countryside and the homes in this area are. This premium is evident across most property types although flats in the area are currently around 8% less than the wider Suffolk region. This is due to the lack of new build flats in Babergh rather than a reflection of a lack of demand as new build flats tend to sell for a much higher premium than their second-hand counterparts.
The Local Housing Market
Average house price
Average house price growth
Average rent
(£ per calendar month)
Annual rental growth
Gross Yield
£361,225
13.3%
12%
£881
2.8%
Sources: HM Land Registry (house price data for Babergh), REalyse
Private rents in the more immediate Long Melford area suggests that this area attracts a premium over the wider areas with average rents of around £881 pcm (REalyse). Over the last year rents were found to have grown here by around 12% while over the last five years they have increased by a lofty 27%. With nearly 20% of local residents still privately renting, this suggests that tenant demand remains high in an area where available rental supply is low. Private landlords have been leaving the sector in high numbers over the last few years and in an area such as this which has a private rented sector almost exclusively led by private landlords, the amount of available stock has dwindled and placed strong upward pressure on rents as a result.
Sources used: Carter Jonas Research, Experian, Google maps, HM Land Registry, Office for National Statistics, REalyse, Rightmove
Notes: REalyse rental data 12-month rolling average
Get in touch
For further information, please get in touch with one of our local experts
Kentwell Hall, the oldest of the two, is a family home, but offers numerous events throughout the year. It is renowned for its historical re-enactments. Owned by the National Trust, Melford Hall offers a stately home of beautiful architecture within a rural setting.
Although there is a no direct rail access, there is a regular rail link between London Liverpool Street and the nearby town of Sudbury (via Marks Tey). Nearby towns also offer rail connections to the national rail network. For international links, Stanstead Airport is approximately one hours drive away via the M11 and A14.
Within a 5-mile radius of Long Melford, there are 15 infant or primary schools, 2 schools offering secondary education and 1 specialist school. The majority of these are Church of England schools and a large percentage are rated as ‘Good’ by Ofsted.
The chart below shows just how strong demand and levels of transactions have been in Long Melford and the wider Suffolk region over the ‘pandemic period’ and particularly during the stamp duty rate cut throughout 2020 and 2021. During 2021 alone average monthly sales in Long Melford were over 23% above their long-term average. Although sales have moderated since that period, this level of demand naturally put upward pressure squarely on house prices over that timeframe and this strong growth remained throughout most of 2022.
Looking ahead, we expect that while overall sales levels will remain below-average for much of 2023, by the end of the year, when mortgage rates have stabilised, they will rebound to their longer-run averages. As such we expect prices to fall by around 4%- 6% per annum in 2023 and 2024, before gradually growing again in 2025 and beyond.
Notes: Average house prices: Babergh. Rental rates areas: five-mile radius from
centre. Projected house price growth, incomes and demographics data, areas:
Respective local authority
2032 forecast
population
(number)
98,011
Ten-year forecast population
(% change)
5%
Proportion of population who are owner occupiers
67%
Proportion of
population who are private renters
18%
Average annual
income
(2022, provisional)
£38,048
Five-year projected house price growth (cumulative)
-0.1%
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01787 882881
Sales
Tommy Newbigging
