Revealed: The cheapest streets to buy a property in Norfolk
- Credit: Eastern Daily Press © 2014
New figures showing the streets with the cheapest housing in all eight Norfolk districts have been revealed.
Areas in Great Yarmouth and Norwich have the cheapest streets in the county.
Norris Court in Norwich has the lowest house prices, followed by Britannia Road and Wellington Road, both in Yarmouth.
The data from H M Land Registry is based on all property sales between 2017 and 2021 where there have been five sales or more in the street. Here is a breakdown for the cheapest streets in all Norfolk's districts...
The two cheapest streets are both in Thetford with properties in Allisons Close fetching an average price of £90,000 and Breckland Court, £101,500.
Northwell Place in Swaffham follows with an average sale price of £103,800.
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In Broadland, the three cheapest streets are in the greater Norwich area.
Properties in Lilian Close in Mile Cross fetch £97,346; in Cecil Gowing Court the average is £112,667; and Tracey Road near Thorpe St Andrew has an average sale price of £120,600.
Britannia Road has an average price of £61,800. On Wellington Road it is £65,800 and Napoleon Place, £75,056.
King's Lynn and West Norfolk
All of the cheapest streets in the west Norfolk area are found in King's Lynn.
Harewood Drive has an average sale price of £76,667 followed by Barrett Close at £77,850 and Swiss Terrace at £86,875.
The average house price in Cromer's Bond Street is £99,250 and Hamilton Road £100,071.
Market Place in North Walsham follows with an average price of £101,188.
Norris Court was the cheapest street in the city, with homes fetching an average sale price of £61,714 with seven sold in the last five years.
The second cheapest was Barnards Yard with five sales at an average price of £98,500 followed by Mandells Court with seven sold at an average price of £100,744.
Lobelia Close in Wymondham is the cheapest street in south Norfolk with average prices of £88,460.
Rowan Court in the greater Norwich area follows with prices on average of £90,475, and Hillcrest Court in Diss is the third cheapest with an average price of £97,083.
Estate agents in the county have said there are many factors that impact the desirability of certain streets and some areas in Norfolk offer an opportunity to find a home in an up-and-coming location at a bargain price.
Ian Harris, senior manager at Watsons, said: "There are two main factors that affect property prices which are location and size.
"It is not surprising that somewhere like Great Yarmouth has some of the cheapest streets in the county as the town has lots of small Victorian terraced housing with little gardens which are in general not in the best condition which keeps prices low.
"However, Yarmouth is seeing an upward trend post-pandemic as people want to live close to the beach, so these streets offer good value for money in what is an up-and-coming area.
"Overall Norfolk is increasingly becoming a really good lifestyle destination and the post-pandemic move out of larger metropolitan areas and the desire for more outdoor space is driving prices up as a whole."
Certain streets are also held in higher prestige than others which can push the average property value up as this pushes up demand.
Kris Pearce, branch manager of Minors & Brady in Norwich, said: "The five elements we look at when valuing a house include the size of the property, the size of the plot, the building's condition, its location; is it near a busy road or bars and clubs?, or the area it is in considering the locality to schools and parks.
"Streets near good schools and green parks will inevitably have higher prices compared to houses of a similar size and condition in other areas.
"If one house sells for a good price it will inevitably push up the value of others nearby. The supply and demand for these properties means the value sticks and tends to increase over time."