Revealed: The average house price in your Norfolk town
- Credit: PA
House prices have started to slump in Norfolk, new figures say.
Data from the property website Zoopla reveals average values have fallen by around £1,800 - just under 1pc - over the last six months.
Over the longer term, properties in the county have risen in price by an average of £61,000 (29pc) over five years and £76,000 (41pc) over the last decade. The average price paid for a house in Norfolk is currently £250,150, compared to a national figure of £309,500.
EDP property editor Caroline Culot said: 'It's no surprise that house prices have started falling because many of the more optimistic reports of value growth such as the recent Land Registry stats are not reflecting what has happened since Christmas. For example, data published recently by the Land Registry, reflected prices achieved on homes sold way before Christmas and some will have been agents' stock that was taken on in the spring and summer of 2018.
'There is no doubt activity is being hampered by the political uncertainty, particularly affecting the investor market. People are still moving, however, and with residential stock a bit short, actually prices are remaining buoyant. However, this probably isn't going to continue and anyone who doesn't need to move will be sitting on their hands to see what the next couple of months holds. 'Agents have remained optimistic. I know one estate agent took on 11 new residential properties in eight days in the first week of January but I fear we are going to see a big freeze in the housing market soon along with the weather.'
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Zoopla also breaks down prices by individual towns. Wells, on the north Norfolk coast, is home to the most expensive properties, with the average price paid £526,010.
Next come Holt (£381,493) and Hunstanton (£324,400). Elsewhere in Norfolk, the average prices paid are: Walsingham £320,778
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Melton Constable £256,534
North Walsham £233,618
King's Lynn £233,078
Downham Market £220,428
Great Yarmouth £188,464
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