Where will Norfolk and Suffolk’s property hotspots be in 2019?
PUBLISHED: 11:20 11 January 2019
Thinking of moving this year? Find out where Norfolk and Suffolk’s property hotspots are likely to be – as told by the experts.
If you’re thinking of moving this year, then you might be wondering where the property hotspots are likely to be across Norfolk and Suffolk. We spoke to the experts to find out.
Dan Crawley, residential director, Aldreds:
“Bradwell is a real property hotspot. At Aldreds, Bradwell is covered by our Gorleston office and we are always busy listing and selling properties in this popular village. Favoured by families and retirees alike, it offers a great mix of property and good access to shops, amenities and transport links.
There are also many exciting small, medium-sized and large developments coming on stream in 2019, including the final stages of Kings Drive.”
Jen Lytton, associate, Ange & Co:
“Pakefield is situated south of Lowestoft and has an unspoiled village feel yet is also accessible, thanks to the A12. This road has connections to the towns of Lowestoft, Beccles and Southwold, along with the cities of Norwich and London.
The area boasts a thriving community, complete with St Mary’s Catholic Primary School, places of worship, shops, restaurants and pubs. It also benefits from beautiful Kensington Gardens, tennis courts, bowling, a boating lake and, of course, award-winning Lowestoft beach.
Pakefield has always been a popular location and we do not foresee 2019 being any different.”
Tom Clay, branch manager, Property Ladder:
“I think the outlying areas of Norwich, bordering on to the Northern Distributor Road (NDR), will be the most exciting places for property in Norfolk in 2019. There is talk of a lot of infill building along the route.
More than transforming any one of the villages along it, I think what we currently think of as the suburbs of the city will be changed. It will be very interesting to read what planning applications are made next year on the land. Quite literally, watch this space.”
Neil Russell, area manager, Musker McIntyre:
“In 2019, we expect there to be great activity in the market town areas of the south Norfolk and Suffolk area, which are covered by our seven offices. These are exciting times to be in and around thriving towns such as Loddon, Beccles and Bungay, which are all close to the Norfolk and Suffolk Broads that meander through our region.
These market towns, which also include Harleston, Halesworth and Diss, have so much to offer – you can be close to amenities or you can hide away in a countryside location, but wherever you purchase you won’t be far from a friendly local community.
Norwich, where we have an office on St Giles Street, will also remain popular. Steeped in history and with its beautiful architecture, it offers all the entertainment, shopping and variety a person would want on their doorstep.”
Bryan Baxter, director and auctioneer, Auction House East Anglia:
“My thoughts will vary from those of others because auctions are a different segment.
Firstly, from an investor’s angle, it is all about yields and income plus longer term growth. Rents are currently rising faster than prices and that will likely remain the case in 2019. I think that east coast properties, particularly Great Yarmouth and Lowestoft, will be in demand. They will represent a lower outlay and higher yield than in most other areas. Generally, landlords make more profit by holding more property, so purchasing at lower prices is helpful. In addition, with a larger portfolio with lower risk, you will benefit from economies of scale and probably longer tenancies, and you will be less at risk from vacant periods.
On the other hand, those refurbishing will be more active in the main population centres. Purchasers who are refurbishing to rent might prefer to be looking at east coast stock. Those refurbishing and wishing to re-sell will be attracted to auction lots in Norwich and larger towns, where there is strong employment and where owner-occupiers want to live.”