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What's Happening In Norwich?


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HOLA441

Hi,

I'm relocating to Norwich because of my new job and have been watching house prices since the summer. I've read the other posts on this forum and most seem to be discussing the £120k and below market, can anyone offer me advice on the £300-350k houses for sale?

House prices where I am in London have dropped by about 10% in the last 3 months but prices seem to be static in Norwich and Thorpe St Andrew where we're looking even though exactly the same houses are still for sale as 3 months ago. Have I got this wrong? Any advice gratefully received

Cheers,

PM :blink:

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HOLA442

Welcome, pinkyminky. :)

Yes, most of us are looking at property around £120k. Not really looking too closely at property over £300k but when the crash bites, these properties will suffer the most. Price deductions of £25k a time.

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HOLA443

Welome PinkyMinky, and welcome to Norwich!

I think there's a few of us who are looking for a bit above £120k, but I'm certainly not looking at the £350k bracket.... unless they come down to my price range!! The £120k bracket is so important as it's FTBer territory, and really all those terraces in the city should be achievable in this bracket

Things are moving at above £250k, but slowly. Having said that, the end of last week my out-size search (I'm a glutton for punishment, and sometimes do Norwich + 3 miles, just to see the state of play) on property bee showed that quite a few of the properties that had been lingering around at £269k ish have finally taken the plunge and gone below the £250k mark. This is a big step for the vendors psychologically I'm sure, and it must be a temptation to buyers in that bracket too.

Houses at the £350k mark however, don't have that incentive, as even dropping by £20k probably isn't going to make a huge difference (whereas going below the Stamp duty threshold provide not only the literal saving on the property, but also the saving on tax). So yes, you're right to think that maybe they're not reducing their prices. I wonder if people trying to sell in that bracket are actually needing to sell - maybe a downsize that can wait would mean that they're reluctant to sell if they don't achieve top dollar? Speculation of course, but possible.

Also do you have Property bee installed? I can highly recommend it.

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on all birth certs years ago it used to print n i n meaning normal in norfolk, well now they changed the letters and on your passport now reads n i g b normal in great britain , my good friend be very un english , step back and ask yourself are these people copy cats or even copy sheep, remember we now have over 1 million richard heads who bought more than one house, ha ha ha im wetting myself, greedy sheep, see realtor .com in good old us houses for $1 no joke take a look at cleveland, the us building prisons for the civil unrest coming, dont buy a house until after london olympics at least, buy physical metal, the toffs are, MY LABOUR IS DEAD, LONG LIVE LABOUR. REMEMBER JARROW, IM LOSING MY POLITICS , WE HAVE TO PROTEST , PROTEST PROTEST, ITALIAN NAZI S , TAKING ROOT, EVERYBODY SITS AROUND AND DOES JACK, THE ONLY GOOD FACIST IS A DEAD ONE. YOU SIT AROUND AND LET THEM PICK YOU OFF ONE BY ONE, YOU LET THE BANKS RULE THE PUPPETS IN POWER WHAT U EXPECT, BUT IT WAS EASY FOR EM , WAS IT NOT , ALL YOU NEED IS DEBT, AT LEAST THE MIDDLE CLASS NOW ARE NOT QUITE SO UP THEMSELVES, IN THE COUNCIL IN NORWICH IS A MAP OF NORFOLK IN ABOUT TEN YEARS TIME, HALF OF ITS GONE, NO YARMOUTH, I SEE YOU CAN STILL GET A MORTGAGE FOR YARMOUTH, WHY, SHOULD U NOT KNOW THEY HAVE NO INTENTION OF SAVING YARMOUTH FROM THE SEA, ALL 5 ARE THE SAME , VOTE ROTHSCHILD, VOTE FED, DEMOCRAT, REPUBLICAN, LABOUR, TORY OR LIBERALS ARE ALL THE SAME , RIGHT WING OR REALLY RIGHT WING, I USE MY BANK AS A BOOKIES, TO PLAY POKER, I SHALL MISS MY POKER WHEN THEY ALL GO BUST, HAVE ARSENAL GOT LOADS OF MONEY IN AMBAC, THEY WILL NOT REACH NEXT SUMMER, WILL THIS MESS WITH, ARSENAL. MAN U AND LIVERPOOL OWNED BY YANKEE HOUSE OWNERS, WEST HAM OWNED BY THE ICELANDIC, ANYBODY WAKING UP.FOOTI HAS GONE PAST THE SELL BY DATE, ITS NOT WHOSE THE NEXT PREMIER MANAGER TO FALL NOW, WHOSE THE 1ST BIG TEAM TO GO BUST, IF WE GO BACK 50 YEARS, THEN NEWCASTLE AND SUNDERLAND WOULD GET 50,000 AND LOSE , SELL THE BIG 4 , RONALDO STANDS OUT FOR MAN U. THEY LOOK AVERAGE WITHOUT HIM, FOOTIE MAY GET INTERESTING ONCE AGAIN, SHUT EATON DOWN, ITS A BREEDING GROUND FOR THESE MERCHANTS, STOP SLAGGING GORDON, ITS NOT JUST HIM , I DISLIKE GORDON S POLITICS A LOT, BUT IT TAKES ANOTHER 326 SHEEP TO GET POWER, THE LEFT TOOK THIS IN THE NAME OF POWER,LOOK AT KEN , WHO BUILT ALL THE NEW EAST END HOUSES FOR HIS BUILDER AND BANKER M8S. AN ELECTION IS WERE YOU CHOOSE BETWEEN , BRANSON OR MURDOCH OR YOU CHOOSE BETWEEN BARCLAYS OR THE ROYAL BANK OF SCOTLAND. LISTEN TO THE LIARS ITS YOUR CHOICE, HOUSES SELL SELL SELL, ITS GOING TO GET A LOT WORSE, BY THE WAY IT LOOKS LIKE A HOUSE ON MAGPIE RD SOLD , IT WAS UP FOR £139,000 O M G , SO YOU PAY £1,000 A MONTH TO THE BANK FOR THE PLEASURE OF LOSING £1,000 OF YOUR HOUSE PRICE, CLEVER DICK. 2011 COME ON MAGPIE RD TERRACES LESS THAN £100K ILL BET YOU £5,000 IF YOU FIND ANY TAKERS. YOU LAUGHED AT ME LOSING MY CASH AT THE BOOKIES, BUT ALSAS IT WAS MY MONEY, STUPID DUMB JIMMMY KNEW WHAT HE WAS DOING, BUT WHEN THE MILLION BOUGHT THERE SECOND PILE OF DEBT DID THEY, BUY TO LET DIE IN DEBT! LOL LOL

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HOLA4410
Norwich has one of the lowest average earnings figures

Damn right - newly-released figures confirm this:

<<<Average weekly earnings are £410.40 in Norfolk, £450 in the region and £458.60 nationwide.>>>

Source: http://preview.*******.com/3hmp7e

If my maths is right, that means the average Norfolk wage is 10.5% below the national average. Sounds about right.

I doubt this will ever change - mainly because of the 'we like it round here' mentality & the pool of cheap labour which this creates.

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