Price growth strong across all regions
Annual property price growth in the East of England is significantly stronger than a year ago, as the shortage of property to buy continues to support prices. Agents across the region report the current sales to stock ratio remains high (RICS), with properties selling in just 35 days (Rightmove).
Double-digit property price growth is evident in nine areas of Essex, Norfolk and Suffolk. North Norfolk and Great Yarmouth are currently the strongest performing areas.
Surge in sales
It is estimated 880,000 property sales took place across the UK in the first six months of 2021, the highest half year total ever recorded and 50% higher than the same period in 2019 (HMRC). It is anticipated sales will top 1.5 million over the course of the year. Buyers have been spurred on by a desire for change and financial savings as a result of taxation ‘holidays’, with over 60% paying no tax on their purchase.
In Essex, Norfolk and Suffolk, the most active housing markets over the past year have been in Uttlesford and South Norfolk
Space to be
The search for space continues to drive many buying decisions. As businesses adopt more flexible ways of working, blended working patterns are set to become the norm for many, and personal wellbeing has shot up the agenda. The local environment, gardens, greater internal square footage and a demarcated space to work from home, all continue to be deemed more important property features in a new home.
Properties for sale in the Essex, Norfolk and Suffolk regions of the UK
Roydon, Norfolk, 3 bedroom
This charming three-bedroom Grade II Listed cottage is set with a plot of 0.2 acres, providing off-road parking and a private rear garden, which is laid to lawn with patio area. Situated in the popular village of Roydon, which offers a primary school, a village hall and petrol station and a public house, this home is about one mile from Diss with its excellent transport links and amenities.
Harlow, Essex, 5 bedrooms
This spacious five-bedroom extended semi-detached home with off-street parking for several vehicles has been much loved and improved over the last eight Years. Ideal for family living, the property boasts a substantial 22-ft lounge and a modern open-plan kitchen-diner with a skylight, integral appliances and bi-folding doors opening out to the private rear garden.
Little Stonham, Suffolk, 6 bedrooms
Highfield House has been cleverly and sympathetically extended to create a detached Victorian property that provides stylish contemporary living, which combines perfectly with the original period character. The home features a spacious farmhouse kitchen and breakfast room, a wraparound conservatory and six good-sized bedrooms.
Make the most of double-digit property price growth with the best estate agent in your area. Contact your local Guild Member today.