Interest in the property market might be falling across the UK, but here in Norfolk, house hunters are bucking the trend.
In the past six months, Norfolk has experienced a “remarkable interest in property”, with an average of 246,000 searches within the county on the property website Rightmove.
This is in stark contrast to the rest of the country, where search activity has been on the decline, dropping from 13.6 million searches in August 2023 to 11.1 million in September 2023 - a fall of more than 18pc.
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The research, which was conducted by Norwich-based Yellow Brick Mortgages, suggests the region has “a unique and robust market compared to the national trend”.
And while it is difficult to say exactly what is driving the ongoing interest in Norfolk property, local estate agents believe the situation is being helped by more people looking to swap city life for the countryside.
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Glen Hammond, managing director of Norfolk-based Hammond & Stratford, said: “Norfolk's picturesque landscapes, coastal areas, and historic towns make it an attractive destination for people seeking a tranquil and scenic lifestyle, especially in the post-pandemic era when remote work and a desire for more spacious living have become prevalent.
“Additionally, Norfolk's relatively lower property prices compared to London and the south east make it an affordable choice for those seeking a change in their living environment.”
Stephen Perkins, managing director of Yellow Brick Mortgages, added that lower house prices meant Norfolk was also attracting people looking for an investment property.
He said: “Norfolk has better than average rental yields, providing a strong investment property market and has seen a great deal of new homes being built to attract and inspire first time buyers and home-movers.”
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