Regional Property Market Update Autumn 2020: Essex, Norfolk and Suffolk (East of England)

Posted on: Tuesday, October 27, 2020

It is estimated that nearly two million people own buy-to-let property across the UK (Resolution Foundation 2019), with property being regarded as a ‘safe-haven’ asset. At 4.7%, the gross yield on residential property across the East of England is attractive.

In Essex, Norfolk and Suffolk, gross yields in seven areas are upwards of 5%, Harlow and King’s Lynn and West Norfolk are the current top performers.

Average gross yields on residential property are attractive, with positive rental and house price growth

Essex Norfolk and Suffolk Regional Property Market Report Autumn 2020

Strongest housing markets across the Essex, Norfolk and Suffolk region

Property prices across the East of England were 2.6% higher year-on-year as the housing market reopened in June. Brentwood and Babergh are the current top performers in the Essex, Norfolk and Suffolk region with prices over 6% higher than a year ago. Activity across the market has been brisk;, nationally the average time taken to sell a property fell to 53 days in August, down from 62 days in August 2019. Sensible pricing remains crucial, as correctly priced properties are nearly twice as likely to be sold ‘subject to contract’ within four months of listing than those that have had their asking price reduced. Homes in the East of England are selling, on average, 11 days quicker than a year ago.

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Properties for sale in the Essex, Norfolk and Suffolk region

Saffron Walden, Essex, 4 bedrooms

Iswas Cottage is a delightful four-bedroom family home of character, enjoying a picturesque setting within a good-sized plot of approximately one third of an acre surrounded by open countryside. The house has been well-maintained by the current owners and provides light and airy living accommodation and benefits from many original features including exposed timbers throughout.

Alpheton, Suffolk, 3 bedrooms

This beautifully presented Grade II Listed thatched cottage is set on high ground in a village between Sudbury and Bury St Edmunds, with spectacular country views to both front and rear. This property is full of character, containing a wealth of exposed timbers with good sized ceiling hights and Inglenook fireplaces under a thatched roof.

Cawston, Norfolk, 4 bedrooms

Rose Cottage is tucked away on Chapel Street, next to a former chapel and offers well-presented and comfortable character accommodation, benefitting from oil fired radiator central heating and replacement double glazed windows. Whilst the garden is all to the front of this property, it offers a surprising amount of privacy and seclusion and has been designed to minimise maintenance.