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More million pound homes sold in Norfolk than anywhere else in UK

PUBLISHED: 05:00 25 September 2020

This home in Tunn Street, Fakenham is for sale for £1.65 million. Pic: Sowerbys

This home in Tunn Street, Fakenham is for sale for £1.65 million. Pic: Sowerbys

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Homes with a price tag of £1million or more are selling 18 days faster than a year ago – with Norfolk outdoing the rest of Britain.

Across the country, it now takes 63 days for such properties to find a buyer, compared with 81 days a year ago, according to Rightmove. And it stated the hottest millionaire market is in Norfolk, beating the rest of the country and luxury home hotspots like Cornwall, Berkshire and Dorset.

Norfolk’s beautiful coasts, countryside and open space are said to be attracting home buyers away from the capital, particularly as a result of the coronavirus outbreak. This saw the county topping Rightmove’s chart, with a 244pc annual percentage increase in sales of homes priced at £1million or more,

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Rightmove’s director of property data, Tim Bannister, said: “Houses in the million-pound-plus market have always taken longer to find buyers than the wider market because of their higher price points, but our new analysis shows that wealthier buyers who are fortunate enough to be able to move to bigger homes have been driving this sector of the market to a pace not seen since back in 2014.

“Unsurprisingly, the counties seeing the biggest annual rise for sales agreed of million-pound homes all benefit from beautiful coasts and countryside.”

Jonathan Wood, manager at Sowerbys property agents in Norwich, said: “We have seen a significant rise in the number of out of area buyers and particularly London and the Home Counties. Houses for sale for £1m plus represent good value for what they are leaving there.

“So many out of area buyer know Norfolk as they were either born here and used to holiday here, so they have a strong connection.”

Louis de Soissons, of Savills Norwich, said: “Despite the uncertain economic backdrop we have seen a real surge in the number of sales being agreed since the housing market reopened. Recent experiences have encouraged many buyers with the financial security to do so to trade up the housing ladder and others to reassess their work-life balance.”

After Norfolk, Wiltshire saw a 174pc annual percentage increase followed by Gloucestershire with 153pc and Berkshire at 134pc.


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