The average house in Norwich is apparently now around the £200k mark whilst the average wage is about £20k. Norwich property prices crashed really hard after '89/90 compared to other areas - once again an area that now sees the average house at 9 to 10 times the average wage will see BIG falls when multiples revert to or undershoot the longterm mean. At some point the average house price multiple always returns to 3.5 times average wage in a typical area like this....

http://new.edp24.co.uk/content/news/story....3A24%3A12%3A570







The higher they go, the harder they fall - just like Northern Ireland

I lived there in the 1980s and sold in 1987 at a price I considered well over what the property was worth. What drove the market back then was the late 80s boom and the accelerated rail service which the EAs trumpeted as putting Norwich within commuting distance of London. Complete ******** in reality and prices sagged terribly in the the last crash; property was hard to sell well into the late 1990s as a consequence, particularly in the Waveney Valley where you couldn't give property away.

It will happen again. Norwich is a 'fine city' as they say, but it's too remote from London to sustain crazy prices for much longer. I predict huge falls in due course.

And the downside from February 2006.





Yes, you could buy a 3 bed cottage in Beccles for £29k in 1997.

Norwich was a 'fine city' up until a few years ago.....

http://www.chavtowns.co.uk/modules.php?nam...cle&sid=796

I also predict huge falls - average wages in Norwich are probably not much different to those in the North where average house prices are 35% less and falling slightly. BTL is the only thing that is keeping prices this high IMO and once that starts going into reverse, the whole lot comes down.

Yeah, Waveney will suffer come the crash. Last time, my 3 bed vic terrace dropped to £35k in `95. Similiar houses round my way now asking £120k. Wages have barely moved. Average wage around here could be around £16k.

Ive lived in norwich for the last 4 years and i think this is spot on. House prices have shot up. And i think they have dragged rental prices up too.

The main priblem with Norwich is its IN THE MIDDLE OF NOWHERE. Despite this you see people getting up at 4am or 5am to drive to london everyday. Its absolutley crazy. Lots of nice surrounding villages that attract the london crowd. Its become an over spill from London. Its also staggering how many chinese / eastern european ppl live in some areas. There are many who have come up from london to buy property to let to students, and young professionals. This accododation is overpriced, small, crowded and run by amateurs.

I was in Reepham recently which is about 15 miles north west of Norwich and a lovely Georgian market town. It is now full of 'weekenders' - London 'city spivs' who have bought up every property in sight.

In the pub I fell into conversation with one of them who said how much he liked having a weekend home there 'Reepham has everything' he said. I replied 'yes, everything except Norfolk accents'.

The A12 from Ipswich to Gallows corner is an unbroken traffic stream during morning and evening rush hours. It amazes me how they can afford the petrol for their at least 240 mile round journey.

I do hope there is a property price crash here, it's a nice city to live in. when I'm a bit older (I'm 23 now) it'd be nice to afford somewhere round here.

Ive been to Norwich a few times to meet clients out there. Must say i cannot see the appeal of the place. Its an uninspiring place in the middle of nowhere, and ages from London. It seemed to have quite a few undesirables hanging about as well. When prices in a place like Norwich are running fast then you have to wonder at the medium term situation. My view is that Norwich will be one of the last "boom" towns as everywhere decent has already boomed. However, it will still take a few years to unwind.

I feel the same about London whenever I go there to be honest (which is only ever to see family really). Then again, the parts of London I've mainly been to would be Manor Park, Tottenham and Walthamstow. Sh1thole would be putting it politely. Put it this way, I'd rather walk around Norwich on my own at night than 90% of London.

Yup, agree with that. Alas, personal safety seems to never be part of the house price equation. (Except NI which has taken improvements in personal saftey and turned it into massive HPI, but thats a freak in my view).

Norwich has a high level of both gypsies and chavs. I was once followed by a white van full of gypsies, because i had decided to ride my bike to the head of a queue of traffic at a set of lights, which they took exception to. They proceeded to try to ram me off my bike, and then followed me across a park (on the grass) and down a pedestrial walk way and bus lane. I stopped by a tree and they sped off. I had at least 5 witnesses, the police were called but never turned up, i eventually went to the station and they did NOTHING. We had the reg plate, a description and the names and adresses of witnesses.

The reason - the van was registered to a gypsy site and the police didnt want to get involved.


Got to love this country

Yes, there are a lot more chavs in Norwich than there used to be, but as a regional centre it is still a lot better than pretty much anywhere else in East Anglia. I do not think that it is good to live "in", but if you are just using it for shopping twice a week then it is fine. And you can drive in and out without too much difficulty.

It is better than Cambridge (which seems to be full of pikeys at the moment), Kings Lynn, Ipswich, Colchester, Bury, Ely, Great Yarmouth, Lowestoft etc

Prices have gone up in Norfolk because it is a nice place to live and still has real countryside. Sure, prices may fall in the mediocre parts of Norwich, but blue-chip North Norfolk is now established as a London second homers premiere choice (sadly). I do think some areas will fall though - Fen border lands west of East/West Rudham, Methwold, Thetford etc and Wyondham, which apparently sufferred in the last crash.

Ooh are there quite a few of us from Norwich nethers then?

Once NU has finished asset stripping itself and offshored most of its back office functions, there wont be any jobs in Norwich left, let alone well paid ones.

Norwich, the only place in England you can go for a drive and slowly destroy your car with various wildlife strikes.

Agreed. Unless long term wages rise in the area it is difficult to see how prices can stay at this level as credit tightens. At the first sign of a recession many of the second home owners will have to bail out.

Maybe the reason I like living in Norwich (well, Drayton) is that I used to live in Thetford... a lot more to do here that's for sure, much nicer area too (where I live anyway).