Market Insights April 2025
The Norfolk property market has had a strong start to 2025, with increased buyer demand and rising sales activity. Here are some key insights for April 2025:
Market Trends
Buyer Interest is Up – Enquiries for new-build homes have increased by 9% compared to last year, and sales agreed since Boxing Day have jumped by 11%.
Resale Homes Are Thriving – A record number of sellers have listed properties since Boxing Day, offering buyers the widest selection since 2015.
Mortgage Applications at an All-Time High – Strong buyer intent is reflected in the surge of mortgage agreements in principle.
Price Growth & Regional Performance
Average property values in Norfolk have grown by 4.4% compared to last year.
Great Yarmouth, Broadland, and South Norfolk have seen the strongest price growth, with increases of over 5%
Market Outlook
Interest Rate Uncertainty – While rates are currently stable, future changes could impact affordability.
Stamp Duty Deadline – The upcoming March 31st deadline may prompt a rush of activity, making early decisions crucial for both buyers and sellers
Overall, Norfolk’s property market is moving fast, with high demand and strong price growth. If you're considering buying or selling, now could be the perfect time to act!
Norfolk vs Neighboring Areas
Norfolk's average property price is £299,000, with a median price of £264,000.
North Norfolk has an average house price of £303,000, slightly down by 1.4% from last year.
Across the East of England, the average house price is £340,000, reflecting a 4.4% increase over the past year.
Norfolk ranks 27th out of 55 counties in England and Wales in terms of property prices
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