Property Auctions In East Anglia

Photo of a listed house at property auctions in East Anglia, England
Property auctions in East Anglia offer an excellent selection of varied and interesting properties for sale. Photo © Michael Dibb (cc-by-sa/2.0)

Property Auctions In East Anglia, England

The East of England is very scenic and has a diverse economy, small villages, ancient market towns and three large cities all of which have made this a very popular choice for anyone who is looking at property auctions in East Anglia.

From listed buildings and older, period properties in places like Cambridge to rural property for sale, village houses and property requiring renovations, property auctions in East Anglia are well worth attending and are busy and somewhat competitive.

Property Prices In East Anglia

Property prices in East Anglia have held up well compared to other parts of the UK. The average price for property stands at £340,260, a rise of 1% compared to 2019 and 4% higher than 2017.

Flats for sale in East Anglia can be purchased for an average of £157,000 and terraced houses are being sold at around £200,000. As in other parts of the UK, property prices in East Anglia depend upon the chosen area, the condition of the property and the local infrastructure and amenities.

Photo of a lovely house for sale in East Anglia
Prices at property auctions in East Anglia vary greatly depending on where you buy and the types of properties being listed. Photo © Michael Dibb (cc-by-sa/2.0)

Prices for properties in and around Cambridge are the most expensive and this is considered a prime location which has performed better than other regions. Ipswich and Norwich are cities that have also become popular as have smaller, more specific property auctions in Norfolk.

The very high property prices in London have led to many buyers choosing a more affordable alternative and to this end buying at property auctions in East Anglia clearly fits the bill.

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Photo of a house for sale in East Anglia
Certain small towns and villages, like Long Melford, are awash with period properties and older homes. Prices for these properties at East Anglia property auctions can escalate quickly. Photo © Michael Dibb (cc-by-sa/2.0

Where To Find Property Auctions in East Anglia

The amount of available lots at property auctions in East Anglia and your bidding will depend upon your budget and how much you are willing to concede on demands for a good location, infrastructure and amenities.

These are the main conditions along with the state of the property which will affect how many are on offer and also the guide price of the property.

East Anglia covers a large area and these are a few of the locations where you could consider searching for property being sold at auction.

Property In Norwich (NR1)

Norwich is a city that stands on the River Wensum. There are opportunities to buy more expensive 4 or 5 bedroom riverside homes as well as a wide range of 2 and 3 bedroom flats or flexibly priced semi-detached and terrace properties.

The cheaper properties could prove to be ideal for investment into the student property rental market. By choosing to buy an auction property in Norwich you will be able to take advantage of all the facilities of a very attractive city.

Norfolk Broads Property (NR12)

The Norfolk Broads covers parts of Norfolk and Suffolk in East Anglia. There is a wide selection of older houses and cottages which could be ideal for holiday rentals.

In addition, there are also semi-detached homes and end of terrace houses that are considerably cheaper to buy and which are often closer to the local amenities like shops or schools. Famous for its peaceful locations the Norfolk Broads is definitely worth adding to your list of potential location for purchasing an auction property.

Photo of houses for sale on the Norfolk Broads in East Anglia
If you bid on a property for sale near the Norfolk broads you should expect to pay more than the average, as competition for houses in this area of East Anglia is high. Photo © Adrian S Pye (cc-by-sa/2.0)

Property In Cambridge (CB1)

Renowned as an education centre of excellence, Canbridge has a wide range of property for sale including some of the most expensive at property auctions in East Anglia. However, prices do vary and a 1-bedroom terrace house can be found for around £225,000.

Cambridge has excellent road connections to London and many residents choose to get around on bikes or use the Park and Ride sites to get into the heart of the city. Small apartments in Cambridge can be purchased for as little as £95,000 so there are plenty bargain properties for potential buyers.

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Property For Sale In Hunstanton (PE36)

The charming seaside resort of Hunstanton is well renowned for its beaches. The average price for a house is £261,000 and there are many flats as well which are priced at around £200,000. Lying forty miles north-west of Norwich, Hunstanton is popular with tourists and has an aquarium, fairground, leisure pool and a seal sanctuary.

The choice of property for sale in Hunstanton combines houses that need renovation and those already completely renovated and ready to move in. Having a budget in mind as well as some prior financing will help you when it comes to deciding which type of property you want to view.

Photo of properties for sale in Hunstanton, east Anglia
Property for sale in Hunstanton often makes the shortlist at many property auctions in east Anglia. Photo © Rob Johnson (cc-by-sa/2.0)

Property In Beccles (NR34)

The market town of Beccles is 16 miles south-east of Norwich. In August the town hosts a sailing regatta and carnival making this a popular choice to buy an auction property. Types of homes include red brick Georgian houses and cheap barns ready for conversion.

Alternatively there are also 1-bedroom apartments close to shops and other amenities and 2 bedroom semi-detached houses in need of remedial work. Buying an auction property in need of renovation can be an excellent investment as long as you get a full structural survey in advance.

Property Auctions In East Anglia FAQ

How Can I Find Property Auctions In East Anglia?

Properties that are up for auction in East Anglia can be located at local property auction houses or at online auction websites. All auction houses operate on similar terms and conditions with guide prices listed for most properties.

How Much Are Auction Properties In East Anglia?

Average property prices for East Anglia are £340,260 but properties sold at auction can be considerably cheaper depending upon the condition. The guide price and the reserve price are listed but some properties may attract more interest than others.

Which Areas Are Best To Find Property Auctions In East Anglia?

Many properties up for auction are found in the cities in East Anglia. Norwich and Cambridge are two of the hot spots for auction properties. Away from these cities around places like Wisbech and Great Yarmouth you can find older derelict cottages, farms and barns which are also highly desirable.

Can I Buy Repossessed Properties In East Anglia?

Major banks and finance companies will provide a list of repossessed property in East Anglia which are going to be sold at a property auction. Additionally, local councils may be able to advise you about any derelict or abandoned properties that have been taken into possession and are due to be auctioned.

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Types Of Property In East Anglia

The diversity of East Anglia makes it a popular choice for buyers of auction properties. You can find commercial, industrial and residential properties, all in a wide range of prices and locations.

Commercial and Industrial Property Auctions In East Anglia

Many towns in East Anglia have commercial and industrial properties for auction. There are retail shops in market towns and you can find many that include a flat above the premises.

Alternatively there are warehouses which can be used for storage or as a place in which to set up almost any kind of business. Buying a commercial or industrial auction property in East Anglia opens up plenty of opportunities for new or existing businesses.

Picture of new houses for sale by auction in Cambridge
Although there are many good property deals in Cambridge, there are also properties for sale by auction where bidding can easily exceed the actual market value. Photo © Hugh Venables (cc-by-sa/2.0)

Residential Property In East Anglia

The diversity of East Anglia means that residential properties are on offer in many different architectural designs. Georgian homes, seaside terrace cottages, flats and post-war semi-detached homes are all available. Some residential properties for auction were previously designated as social housing and can be bought for a very reasonable price.

Derelict Or Development Properties In East Anglia

Any homes that have been abandoned or are derelict can be sold through property auctions in East Anglia. Although buying such a property may seem daunting, the money invested can bring excellent rewards and is very worthwhile.

You can find a list of derelict or development properties by contacting the local council. It is important to always ensure that the property in question has planning permission for your needs, especially if it needs listed buildings consent.

East Anglia Property Resources:
Find out about council and property tax in East Anglia
General information on the East Anglia area from Visit East England

Attending Property Auctions In East Anglia, England

Many people consider buying a property for sale by auction and it can lead to an excellent outcome. However, there are a few important points to consider before bidding on a property. If you have a budget it is vital to stick to it and not make impulsive bids in the heat of the moment.

Do your research and conduct required property surveys in advance of the property auctions in East Anglia and make sure that you understand the terms of the contract so there are no unpleasant surprises.

Ensure that you have your deposit and funds in place before bidding. Making the experience as efficient as possible will allow you to avoid legal problems.

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