According to property website Zoopla, house prices in Norfolk have fallen by around 1% over the past six months. That means that the average property in the county is now £1,800 cheaper than it was last summer. However, while house prices are down compared to last year, they’re up when you look at long term values. Over the past five years, the average house has gone up by 29% while, over the last ten years, values have shot up by an incredible 41%.
If you own a home in Norfolk, or if you’re looking to relocate to the county, understanding property prices in the region will help you plan your move. Keep reading to find out more.
How does Norfolk compare to the rest of the UK?
The average price of a property in Norfolk is now £250,150. This is considerably less than the rest of the country where the average home comes in at £309,500. As your budget will stretch further in Norfolk than many other parts of the UK, it’s the perfect destination for homeowners who like to get great value for money.
Average house prices across the county
Average house prices vary considerably across Norfolk. The price you’ll pay for a property in the county will depend on its size, location, decorative condition and proximity to amenities.
In Diss, the average cost of a home is now £285,056, while in Norwich, you can still pick up a property for an average of £261,045. In desirable Harleston, you’ll pay a little more with the average home now worth £282,715. If you’re looking for a bargain, head to Great Yarmouth where you’ll pay around £188,464 for your home.
If you’re looking at villages in and around this area, like Loddon, Beccles, Bungay and Halesworth, you’ll find prices are similar to those in Diss, Norwich and Harleston. Although the exact price you’ll pay could vary considerably depending on what you’re looking for.
Norfolk House prices in the coming year
During the last couple of years, a lot of buyers and sellers have been worried about Brexit. As the uncertainty surrounding the UK’s departure from the EU looks like it’s finally going to be resolved in the coming months, the country’s property market may well experience a boost.
Although prices in Norfolk, and the rest of the UK, may be slow to rise at first, experts are predicting things will be on the up by the end of the year. If you’re thinking about relocating to Norfolk, it could well be worth making a move quickly so you can bag a bargain before prices rise.
You can find out more about moving to Norfolk and learn about the different properties available in the region, by dropping into one of our local branches, giving us a call or taking a look around our site.