Revealed: The cheapest towns in Norfolk to buy a home
- Credit: Eastern Daily Press © 2014
While house prices have been rising this past year across Norfolk, there are still many places that offer affordability alongside vibrant town living.
Land Registry data compiled by estate agent Savills has revealed which towns in Norfolk have the cheapest average house sale price.
The data compares the average sale price in the area alongside the average sale price for the county as a whole.
The list of the top ten cheapest places to buy a home features large coastal towns as well as smaller inland market towns in the county.
Ben Rivett, joint head of residential sales at Savills in Norwich, said: “The prices quoted are averages so there will of course be some degree of variation – with a handful of roads in every town that are higher than the average.
"Homes in Norfolk continue to be in high demand and short supply – particularly on the coast and in those towns and villages which are deemed ‘best in class.’"
The most affordable town to buy a house is Great Yarmouth, with an average house sale price of £175,663. This is 39.4pc lower than the average asking price in the county, making it a great option for those looking to make their first step on the property ladder for cheap."
Great Yarmouth has some of the most deprived areas in the county but it is also a thriving town with a rich heritage.
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There is lots to see and do in the coastal town, and recent investment in the area will hopefully help bring regeneration for the future.
Nearby Gorleston-on-Sea is the second cheapest town for house prices in Norfolk. The average sale price of £204,641 is 29.4pc lower than the county's average.
Gorleston has a long stretch of sandy beach, with many great seaside restaurants and attractions.
According to David Hinton, sales manager at Brown & Co, the cheaper house prices does not mean eastern coastal towns should be overlooked: “The east coast locations in Norfolk have traditionally demonstrated better value in terms of property price than the North Norfolk coast.
"The Burnhams and villages around Holkham are particularly popular with out of area property owners and we’ve seen house prices soar in those areas as a result.
"Areas like Great Yarmouth and Gorleston often get overlooked yet in fact also boast beautiful stretches of coastline, great beaches and in fact efforts are being made to attract more investment.
“However, for local people, it’s a benefit that the eastern locations offer better value for money because it means those who grew up and work in the area can afford to live there too.
The third cheapest town in Norfolk to buy a house is Thetford, with an average sale price of £208,340. King's Lynn follows, with an average price of £211,352.
Like the eastern towns of Great Yarmouth and Gorleston, the beauty of the surrounding natural environment makes these brilliant locations to live in.
With Thetford's forest and King's Lynn incredible coastal environments, there is lots to attract potential home buyers.
Mr Hinton added: "We are seeing a real sea-change – and because of Covid, homes in these towns are in demand because people are choosing to commute one or two days into London rather than work there all week.
“Other towns in the league table such as Swaffham, Watton, Dereham and Fakenham are in mid-Norfolk are seeing property prices rise because people can’t afford to buy on the North Norfolk coast and are choosing to come further inland for better value."
Earlier this month it was revealed that Sheringham is the most expensive town in Norfolk to buy a home, with an average sale price of £334,460. Another coastal town, Hunstanton, followed at £293,724.
The significant difference in price shows how north Norfolk's towns are seen as more desirable. Regardless of house prices, each town in Norfolk has a unique character of its own with growing communities that make the county a great place to live.