Norfolk town revealed as UK property hotspot
- Credit: Archant
A north Norfolk town has been revealed as one of the UK's property hotspots, with asking prices rising by 20pc over the last year.
North Walsham has had the 10th highest rise in asking prices in the country, according to new data from Rightmove.
According to local estate agents, the close proximity to amenities and train services, alongside the rise in home working has meant North Walsham has become increasingly attractive to buyers.
Average asking prices have risen from £228,788 in 2021 by 20pc in February 2022, with the average asking price now at £274,490.
The fishing town of Brixham in Devon topped the list, with a rise of 25pc and across Great Britain, average asking prices are up 9.5pc annually in February.
Jesmond in Newcastle Upon Tyne saw the second highest increase at 23pc and Farnham in Surrey came in third at 22pc.
Tim Bannister, Rightmove's Director of Property Data said: "The rise in the number of buyers looking for a home by the coast since the pandemic started is still being felt in asking price rises nearly two years on."
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What you can get for your money
A three-bed terraced house is currently on the market for £275,000 in Station Road, North Walsham and is available through Henleys estate agents.
Described as a 'character cottage,' the house has exposed brick and flint walls, open brick fireplace, a modern 'shaker' style kitchen with a utility room.
The house has one bathroom upstairs and it also offers off-road parking and has a rear garden.
Another semi-detached property in Rayna Loke in the market town is currently on offer for a guide price of £270,000.
The semi-detached house has three bedrooms and two bathrooms, including an en suite.
It has a "larger than average plot" with an enclosed rear garden that is "much bigger than usual".
The interior is described as "modern and contemporary" and is located close to local amenities and is a walking distance to town.
Why North Walsham?
North Walsham is a medieval market town in north east Norfolk, sitting midway between the north Norfolk coast, the Broads National Park and Norwich.
It has a number of historical sites including the 13th century St Nicholas Church. Its tall tower is the second tallest in Norfolk after Norwich Cathedral.
On Thursday there is a market held in the town and there are also plenty of shops and places to eat.
There is also plenty to do for the children, such as testing their skills at a newly constructed £190,000 skate park.
Its location is a particular draw for those looking to move to the country, according to local estate agents.
Dan Alexander, branch manager at Henleys in North Walsham said: "North Walsham's infrastructure has been part of the many people's decision-making when moving to an area like this, especially the surrounding villages like Trunch, Felmingham and Knapton.
"With many varied shops, supermarkets and the ease of transport to Norwich via North Walsham's train station.
"Other reasons for the rise in house prices are that many people are now able to work from home which has led to many buyers from out of the area, such as in Essex, the Midlands and London. This has nearly doubled in the past 18 months.
"We have also seen an increase in second home owners as many feel holidays abroad are less viable and will continue to be over the next couple of years. There has also been a rise in holiday let buyers."
Daniel Trett, of Trett Phillips Residential, added: "I believe North Walsham is becoming increasingly popular due to its central location to Norwich and the coast.
"It’s also a well stocked town for local amenities, the train station and with a lot of new homes being built it is catering for every buyer's need."