House Prices starting to slump in Norfolk

January 31, 2019

Slump is quite an aggressive word to describe house prices as it will bring fear to many and joy for others – downward trends though seem to be now hitting Norfolk following a recent report shared on the Eastern Daily Press Property website reported today. The figures over the last six months have caused these headlines.

Zoopla is referred to in the report in that there has been a 1% drop in values of property over the last six months within the county of Norfolk in East Anglia. A bull market run saw prices rise 28% over the last five years on somewhat no foundations many will say so a fall and a continued fall of values is in no way a surprise is it?

“This comes as no surprise as the shock-wave of London price falls will continue to ripple across the country and those regions which had a never ending price hike of recent years will see that the foundations in place are non-existent and they can easily fall back what they have gained. If we add the uncertainly of Brexit which will continue after any kind of deal or no deal come March 29th 2019 and increasing landlords ditching / reducing their property portfolios along with negative property news and increasing listings per estate agent will mean one thing for sure, a bull run will change to a bear one and drops could be steep. Buyers are now in control, a position they have not been in for years, they can afford to wait, they will be looked after by the estate agent as they wish to claim sales, they can tempt sellers with offers and they know that if an offer is not accepted, there is likely a long list of sellers waiting to say yes.” Christopher Walkey – Founder of Estate Agent Networking

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Breaking Property News 3/6/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Oxford to Cambridge Growth Corridor launches shared vision to become a top-10 global innovation cluster Later today, at a major science and innovation conference hosted by Bidwells at Westminster’s QEII Centre, the Chancellor, Science Minister Lord Vallance and Housing Minister Matthew Pennycook will set out a…
Read More →
Estate Agent Talk

Refurbishment budget requirements approach £86,000

Jonathan Samuels, CEO of specialist lender, Octane Capital, believes that whilst refurbishment projects continue to offer some of the strongest value-add opportunities within the property market, investors must ensure they budget appropriately from the outset, with contingency planning often proving the difference between a successful project and one that stalls before completion. Octane Capital analysed average…
Read More →
Letting Agent Talk

Renting for Life: Six in Ten Tenants are Staying Longer Than They Ever Planned

Six in ten tenants across England and Wales are renting for longer than they ever planned to, according to new research from LRG. The Spring 2026 Lettings Report, which draws on responses from 650 landlords and tenants, found that 40% say they have been in the rental market for much longer than they expected, with…
Read More →
Estate Agent Talk

Keep Your Move on Track: Reducing the Risk of a Fall Through

Buying or selling a home is one of the biggest financial commitments most people will ever make. Unfortunately, not every agreed sale reaches completion. When a transaction collapses before contracts are exchanged, it is known as a “fall through”. Fall-throughs can be costly, causing delays, financial losses, and significant stress for everyone involved. Buyers may…
Read More →
to let sign 2025
Breaking News

London rents up just 0.7% since RRA became law

The latest research from London lettings and estate agent, Benham and Reeves, has revealed that rental growth across London has remained consistent since the Renters’ Rights Act received Royal Assent, with rents increasing by just 0.7% since, the same rate of growth seen during the equivalent period prior to October of last year. In fact,…
Read More →
Letting Agent Talk

Will RRA mean almost 50% of renters need a guarantor?

A surge in tenants who require a rent guarantor is coming to the post-RRA rental market   New analysis by Zero Deposit reveals that the proportion of local authority districts in which the average tenant is likely to need a rent guarantor to secure pass tenancy affordability checks could increase from one-in-five to almost one-in-two…
Read More →