House prices on the rise in West Norfolk

HOUSE PRICES PRESS ASSOC

Published at 6:01am 18th August 2018.

Your house could be worth £56,000 pounds more than it was five years ago.

That’s according to the latest data from the office of national statistics.

The average house price in West Norfolk is £212,000 which is below the UK average of £228,384

door knock

 

The figures also showed that buyers who made their first step onto the property ladder in our county in June spent an average of £179,800 - around £48,000 more than it would have cost them five years ago.

Lawrence Bowles, the associate director of the research team at the estate agents Savills, said the national figures were a "mixed picture" for homeowners.

"Broadly speaking the story of 3% price growth across the country, over the last 12 months, is faster than inflation," he explained.

Growth is starting to slow down, with prices increasing across the UK, particularly in the West and East Midlands, Scotland, Wales and Northern Ireland.

The West Midlands is the stand out area, and this shows a trend of people moving away from London due to cost."

Between May 2017and April 2018, 2,601 homes were sold in West Norfolk, 6% fewer than in the previous year.

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