House prices in IP12 1 (Melton)

This article reveals price per square metre data and various charts to help you understand current housing market in 'IP12 1' (Melton, Rendlesham) - statistics were last calculated on 30 August 2024.

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Defining 'IP12 1'

This analysis is limited to properties whose postcode starts with "IP12 1", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Melton.

You can click on the map to change sector, or you can enter a different postcode sector (e.g. CM23 4) below.

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FYI, a postcode sector is the full postcode without the last two letters.

Price per square metre

Knowing the average house price in Melton is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area

E.g. 17, Bury Hill, Melton, Rendlesham, sold for £290,000 on Jul-2024. Given the internal area of 84 square metres, the price per sqm is £3,452.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 173 sales in Melton (IP12 1) that took place in the last two years.

Generate a custom chart like the one above but based on your own criteria.

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in Melton (IP12 1). Of the 173 transactions, half were sold for between £3,520 and £4,920 per square metre. The median, or 'middle', price per square metre in 'IP12 1' is £4,170. Notably, only 25% of properties that sold recently were valued at more than £4,920 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Melton, Rendlesham

Do have a look at the interactive price map I created. I find it useful and I am sure it will help you in exploring Rendlesham. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values.

House price heatmap for Melton, Rendlesham

Comparison with neighbouring postcode sectors

The table below shows how 'IP12 1' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
IP12 3 Hollesley	£2,780 sqm	£3,180 sqm	£4,040 sqm
IP12 2 Rendlesham	£2,470 sqm	£2,900 sqm	£3,830 sqm
IP12 4 Woodbridge	£3,420 sqm	£4,380 sqm	£5,100 sqm
IP12 1 Melton	£3,520 sqm	£4,170 sqm	£4,920 sqm

Will Rendlesham house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the chart below for IP12 1 (Melton) compared with both the wider area IP12 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

Download time series data as CSV (paying users only).

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Rendlesham to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about Rendlesham and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information.

Street level data

Street	Avg size	Avg £sqm	Recent sales
Suffolk Place, Melton, IP12 1X	48 sqm	£2,571	21
Bredfield Road, Melton, IP12 1J	121 sqm	£4,573	13
Bury Hill Close, Melton, IP12 1L	92 sqm	£3,493	13
Victoria Road, Melton, IP12 1E	114 sqm	£4,548	13
Old Maltings Court, Melton, IP12 1A	52 sqm	£3,318	11
Church View Close, Melton, IP12 1R	79 sqm	£3,608	11
Deben Road, Melton, IP12 1A	81 sqm	£4,836	11
Elmhurst Court, Melton, IP12 1H	51 sqm	£3,336	10

Search for your street here.

Raw data

Our analysis of Melton is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

Address	Paid	sqm	£/sqm
17, Bury Hill, Melton, Rendlesham	£290,000 Jul-2024	84	3,452
7, Elmhurst Court, Melton, Rendlesham	£140,000 Jun-2024	48	2,916
2, Simpkin Close, Melton, Rendlesham	£595,000 May-2024	153	3,888

See the entire list of all sales in Melton (IP12 1) here.