Latest on House Prices in Norfolk
As more and more people look to leave London for more affordable and more picturesque destinations, and increasing numbers of people realise just how much Norfolk has to offer, house prices in the county are going to continue to go up. Now one of the most popular places to live in the UK, Norfolk offers great beaches, pretty seaside towns, a fantastic landscape and a wealth of historic attractions.
We’re taking a look at some of the latest property deals in Norfolk, to see just how much the county’s housing stock has increased in value in recent month.
According to data released by the Land Registry Office and mapped by EDP24, the cheapest property sold in Norfolk in November 2017 was a home in Sundowner Holiday Park in Hemsby which cost the buyer just £13,400. Although this definitely sounds like a bargain, it’s important to remember that, in general, homes in holiday parks are always more affordably than more traditional residential properties. This is often because there are more things to consider like ground rent, lease length and the durability of the property.
In some other parts of the county, including Fakenham, Norwich and Diss, there were also a number of properties changing hands for well under £100,000. Although the study doesn’t mention the condition of each property or the number of rooms they have, this still shows that there are bargains to be had in this in demand corner of the country.
Most expensive properties
At the other end of the scale, Ivy Farmhouse in Stanhoe was the most expensive of the 700 properties sold in Norfolk in November with a hefty price tag of £1,800,000. A handful of other properties also sold for over £500,000, many of which were located in pretty countryside or beachside locations.
Average cost of housing in Norfolk
Although some houses in the county are truly budget busting, the majority of properties in Norfolk are well within reach of the average first time buyer. Most of the houses that sold in November fell into the £100,000 - £200,000 or £200,000 - £250,000 categories. This shows that Norfolk is yet to experience the sort of price explosion that we’ve seen in some other parts of the country in recent years.
This is great news for those still thinking about making the move east and for residents of Norfolk who want to get on the property ladder. However, with house prices rising very quickly across the county, buyers will need to be quick if they want to grab themselves a bargain.
If you’re considering a move east or are thinking about putting your Norfolk home on the market, we can help. Drop into one of our local branches today or get in touch to find out more.