INSIGHT HOUSE PRICES - Watsons Property
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INSIGHT HOUSE PRICES
National snapshot
The latest house price data published The average house price in England
by HM Land Registry for March 2020 increased by 2.2% over the year to March
show that average house prices in the UK 2020, up from 1.7% in the year to February
increased by 2.1% in the year to March 2020, with the average house price in
2020, up from 2% in the year to February England now at £248,000.
2020. Over the past three years, there London was the region with the highest
has been a general slowdown in UK house annual house price growth, with prices
price growth, driven mainly by a slowdown increasing by 4.7% to £486,000 in the year
in the south and east of England, but there to March 2020, up from 3.0% in February
has been a pick-up in annual growth since 2020.
December 2019.
The lowest annual growth was in Yorkshire
The average UK house price was £232,000 and The Humber, where prices decreased
in March 2020; this is £5,000 higher than in by 1.0% over the year to March 2020.
March 2019 (Figure 2). On a non-seasonally London house prices remain the most
adjusted basis, average house prices in the expensive at an average of £486,000. The
UK decreased by 0.2% between February North East continued to have the lowest
There are numerous house price indexes covering 2020 and March 2020, compared with average house price, at £127,000, and is
the property market in the UK. Here we provide a a decrease of 0.3% in the same period a the only English region yet to surpass its
snapshot of the latest data for our region, the wider year ago. On a seasonally adjusted basis, pre-economic downturn peak of July 2007.
economy and take a look back at how prices have average house prices in the UK increased
changed. by 0.1% between February 2020 and
The key index to trust when it comes to house price March 2020, following a decrease of 0.1%
data is the one produced by the Office for National in the previous month.
Statistics (ONS), this is because this index is based on
completed housing transactions. Many other indexes
take their snapshots ahead of completion, typically
this means the data is less accurate as some sales
will fall through.
Source: ons
Looking forward
At the moment housing inventory is roughly half of what it looked like a year ago. That’s a
bad thing for buyers, but a great thing for sellers - limited properties for sale means there
will be numerous buyers looking to purchase your home. If yours is only one of a few of
a certain size or at a certain price
point, you could walk away with a
higher price.
The planned opening of
accommodation on 12 April
provides an opportunity for out
of area buyers to visit our area
and we already have buyers from
elsewhere in the UK registering
to view properties for sale and
explore our beautiful region. The Ian Harris MNAEA MARLA
reintroduction of 95% mortgages Associate - Customer Services Manager
and the extension of the Stamp Watsons
Norfolk in focus
Duty Holiday is likely to drive this 01603 619916
trend further. i.harris@watsons-property.co.uk
But over the coming weeks and
months, the gradual release from Watsons is one of East Anglia’s leading property firms,
lockdown is expected encourage with a first-class reputation for providing the experience
more sellers to make the moves and expertise that all clients need.
they have considered for a long
time. In addition, after months We have four core property disciplines:
of sitting at or near record lows, • Sales
interest rates have started to climb. • Valuation and Survey
If rates continue to creep upward, • Lettings
the demand for homes could begin • Block and Estate Management
to wane. And a reduction in buyer Watsons have experience to guide you whether you are
demand could push house prices looking to sell your family home, review rents, or even settle
back down, so if you are thinking of a property dispute.
selling your home it may be worth
your while to get in quickly.
Market update 2021
Aylsham
Aylsham Whats happening to prices?
• The Average price is currently
Market update 2021 £272,561 compared with
£262,331 at the same time last
year, a rise of 3.8%
• Average price for a first time
buyer is £226,365
• 38% of purchases are without a
mortgage
Aylsham Is one of Norfolks pettiest market towns.
Even during Covid the town has retained a strong
sense of community and everyones looking forward
to all the shops in the Market Place being open again. Top and Bottom of the Market
The town has some beautiful surrounding countryside • Most expensive was a classy
conversion of farm buildings in
including the NT Blickling Park, with both the city of Burgh, sold for £600,000.
Norwich and Norfolks famous “Big Sky” coast within
easy reach. • The cheapest a flat in Hungate
Street for £115K
Contact our property specialists for advice on selling or buying a
home in the area
• 01263 733881
• aylsham@watsons-property.co.uk
Data presented is based on the latest House Price Index.
For specific advice about your property, please call us on 01263 515120Market update 2021
Cromer
Cromer
Whats happening to prices?
• The Average price is currently
£293,504 compared with £257,173
Market update 2021 at the same time last year, a rise of
14.1%
• Average price paid by first time
buyers is £233,787
• 55% of purchases are without a
mortgage
Cromer is a welcoming seaside town, famous for
its Pier, high quality crabs and beautiful cliiftop Top and Bottom of the Market
walks, with a strong sense of community amongst • Most expensive was a contemporary
those who live and work here. As we emerge from designed detached residence in
lockdown, everyones looking forward to all the shops an acre at West Runton, sold for
and array restaurants re-opening and welcoming £1,025,000.
seasonal visitors to the town once again. • The cheapest a flat in Cabbell Road,
Cromer, sold for £88,000
Contact our property specialists for advice on selling or buying a
home in the area
• 01263 515120
• cromer@watsons-property.co.uk
Data presented is based on the latest House Price Index.
For specific advice about your property, please call us on 01263 515120Market update 2021
Holt
Whats happening to prices?
• The Average price is currently
Holt £293,504 compared with
£257,173 at the same time last
year, a rise of 14.1%
Market update 2021
• Average price paid by first time
buyers is £233,787
• 55% of purchases are without a
mortgage
Historic Holt is a “picture-postcard” Georgian town,
built after a ferocious fire engulfed its medieval Top and Bottom of the Market
predecessor. Today, this bustling jewel of a town, has • Most expensive was a detached
an array of interesting shops and sits just inland from residence in Lower Bodham, sold in
the beautiful North Norfolk Coast, famous for is Big September for £1,175,000.
Skies, abundant wildlife and muddy inlets. today. • The cheapest, a 2 bedroom brick and
flint terrace renovation project, sold
Contact our property specialists for advice on selling or buying a for £135,000
home in the area
• 01263 711021
• holt@watsons-property.co.uk
Data presented is based on the latest House Price Index.
For specific advice about your property, please call us on 01263 711021Market update 2021
Sheringham
Whats happening to prices?
Sheringham • The Average price is currently
£293,504 compared with
Market update 2021 £257,173 at the same time last
year, a rise of 14.1%
• Average price paid by first time
buyers is £233,787
• 55% of purchases are without a
mortgage
This coastal town is North Norfolks home to the
arts, with its 180-seat Sheringham Little Theatre. At
is heart, Sheringham’s fishing heritage is very much Top and Bottom of the Market
in evidence and it is where the national rail network • Most expensive was a contemporary
meets the famous “Poppy Line” heritage railway, designed detached residence in
offering steam train trips along the scenic coastal and an acre at West Runton, sold for
heathland route to Holt. £1,025,000.
• The cheapest, a small leasehold
Contact our property specialists for advice on selling or buying a flat in Sheringham Court, during
home in the area lockdown1, sold for £90,000
• 01263 823201
• sheringham@watsons-property.co.uk
Data presented is based on the latest House Price Index.
For specific advice about your property, please call us on 01263 823201Market update 2021
North Walsham
Whats happening to prices?
North Walsham
• The Average price is currently
£293,504 compared with
£257,173 at the same time last
year, a rise of 14.1%
Market update 2021
• Average price paid by first time
buyers is £233,787
• 55% of purchases are without a
mortgage
North Walsham, is a market town which nestles in
the rural countryside between the Norfolk Broads and Top and Bottom of the Market
North Norfolk coast. With its excellent local services, • Most expensive was a detached
weekly market, branch of Waitrose and rail service converted barn in Antingham, sold
to Norwich and the coast, many will consider it as an in November for £770,000.
ideal market town to live in. • The cheapest, a 2 bedroom brick and
flint terrace renovation project, sold
for £125,000
Contact our property specialists for advice on selling or buying a
home in the area
• 01692 404658
• northwalsham@watsons-property.co.uk
Data presented is based on the latest House Price Index.
For specific advice about your property, please call us on 01692 404658Residential sales
01603 226508
norwich@watsons-property.co.uk
watsons-property.co.uk
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