Property Auctions in Norfolk, England
Whether you are after a permanent or holiday home, more and more purchasers are buying at property auctions in Norfolk, England. Covering 2,000 square miles, this part of England is sparsely populated with only 850,000 inhabitants, a fifth of whom live in Norwich.
Despite the lack of a motorway, travelling to and from Norfolk has become much easier since the A11 became a dual carriageway while there are also regular train services to the capital and Cambridge.
Norfolk offers an interesting range of properties, from family homes in the countryside to buildings which can be renovated and converted. Attending property auctions in Norfolk appeals to potential buyers who want good quality housing in a peaceful and desirable part of England.
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Property Prices in Norfolk
Norfolk’s four main urban centres: Norwich, Great Yarmouth, King’s Lynn and Thetford have the cheapest property prices in Norfolk. In all these places, it is possible to find a 3-bedroom semi-detached house for under £150,000.
In Norwich, homes for this price tend to be located on the outskirts of the city. Within the city of Norwich, prices will be considerably higher ranging from £165,000 to £240,000. With the exception of Great Yarmouth, you can expect to pay £150,000-£250,000 for coastal and seaside properties in Norfolk.
Prices for buyers at property auctions in Norfolk can be dramatically reduced if they are prepared to live 10-20 miles inland in a rural property or move to one of the many villages in Norfolk.
Bargain Property in Norfolk
Norfolk’s main towns and cities have the same housing stock as other urban centres in the UK such as Georgian town houses, late Victorian terraced houses, and post-war semi-detached houses. In the rural parts of Norfolk, there is greater variety including country cottages, brick and flint farmhouses, converted barns, former fishermen’s cottages and large detached estates.
Larger properties are rarely found at property auctions in Norfolk and, if they are listed as lots, have significantly higher guide prices at auction, usually starting at £300,000 and going up to over £1 million.
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Popular places at property auctions in Norfolk
Property In Norwich
With a population of 150,000, Norwich is the largest city in Norfolk. It was voted the best place to work in the UK in 2015 and is the UK’s only UNESCO City of Literature. The main benefit of buying property in Norwich is that it has all the amenities that you would expect from a city, but it is compact enough to get around on foot.
Norwich has a range of property types from terraced housing to former wool merchants’ detached houses. The average price of a house in Norwich is £238,000 (with a flat costing £140,000), but it is possible to find properties in the suburbs for much lower prices at local Norwich property auctions.
Ten miles from Norwich is the charming market town of Wymondham. Its location on the A11 makes it ideal for commuting into either Norwich or Cambridge. It is also ideal for families with excellent primary and secondary schools.
Within the centre, the mid-17th century and Georgian properties rarely come up for sale but further outside the town, prices for post-war semi-detached houses start at £200,000 while a country cottage would cost £240,000-£300,000 depending on its condition.
Property in Diss, Norfolk
Located on the border with Suffolk and close to the Norfolk Broads, Diss is about 20 miles from Norwich. It has a train station with direct services to Norwich, Ipswich and London so commuting is quite easy.
The housing stock in the centre of Diss consists of a mixture of cottages, 16th-century timber-framed houses and period town houses while larger detached houses can be found around Fair Green. Its suburbs have mainly modern semi-detached houses.
Prices for property for sale in Diss start at £180,000 for a terraced house or cottage and go up to £800,000+ for detached homes at property auctions in Norfolk.
Property In Cromer
Perched on a cliff about 20 miles north of Norwich, Cromer is a popular Norfolk holiday destination with wide expanses of sandy beaches, a pier and coastal walks. Its town centre has a wide range of shops, the vast majority of which are independently owned.
The housing stock within the town centre is mainly Victorian with houses built after the advent of the railway. However, there are also semi-detached houses, cottages, flats and larger detached properties. This would be ideal as a permanent or holiday home. Two-bedroom flats start at £135,000 while family homes are £220,000-£300,000.
Property Sales In Holt, Norfolk
The houses in Holt mainly Georgian townhouses and flint stone cottages, many of which are listed buildings. When they are put up for sale by auction, property prices in Holt are £500,000-£1 million.
Further outside the town, you can find bungalows, semi-detached houses and barn conversions (priced £225,000-£280,000 depending on their condition).
Property Auctions In Norfolk FAQ
How can I find auction properties in Norfolk?
A number of local auctioneers specialise in Norfolk properties put up for auction. You can find out more from press releases or their websites. You could also ask to be added to their mailing lists as auction properties in Norfolk become available.
How much are auction properties in Norfolk?
Property sold at auction in Norfolk reaches an average price of £90,000-£250,000. The guide price and final sales prices depends on what type of property it is, its location, age as well as interest shown by other perspective bidders.
Which areas are best to find auction properties in Norfolk?
The best places to look for auction properties in Norfolk are Norwich, Diss, Holt, Cromer and Great Yarmouth. Your choice will depend on your budget and what you are looking for.
Can I buy repossessed auction properties in Norfolk?
Yes, there are many repossessed properties sold at auction in the Norfolk area. Repossessed auction properties might be advertised in the local press or on the websites of auctioneers.
Norfolk Property Resources
Property Auction Sales in Norfolk
With rural, coastal and urban properties on offer, there is a wide range of auction property available for sale in Norfolk.
Repossessed Property In Norfolk
There is a wide range of repossessed property in Norfolk and attending a property auction is one of the best ways to find them. From repossessed houses in Norfolk to flats, studios and sometimes even land for sale, there is a lot to choose from.
Top of the list for many buyers is finding repossessed houses in Norwich or surrounding areas. This is the most likely part of Norfolk to find cheap property so make sure you register your interests with local property auction houses in Norfolk.
If you do register with an auction house in Norfolk then they will notify you about any upcoming repossession properties in Norfolk that may be coming up as lots. We have a dedicated article about buying repossessed property for sale in the UK.
Lastly, don’t assume that repossessed houses in Norfolk are going to be cheap when sold at auction, this is not always the case, particularly if the property requires renovation but is in a good location. The popularity of the country often means repossessed houses in Norfolk attract a huge amount of interest.
Cheap Property in Norfolk
One of the cheapest places to buy a property at auction in Norfolk is Thetford. Located near the A11 and with direct train services to Norwich and Cambridge, it is the ideal place for commuters. The average price of property in Thetford is £145,000. This town would appeal to first-time buyers or young professionals just getting their foot on the property ladder.
Holiday Homes For Sale In Norfolk
If you are interested in a Norfolk holiday home near the sea, the cheapest place to buy an auction property is Great Yarmouth (prices start at £90,000). Coastal resorts further north (such as Hunstanton and Sheringham) tend to be more expensive (£180,000-£250,000).
Commercial Property Sales In Norfolk
If your dream is to own your own business, then buying a commercial property at auction in Norfolk might be the best decision. Most of the High Street brand names tend to be located in the main urban centres like Norwich.
Outside of these cities, many of the market towns in the county rely on independent shop owners. Apart from the summer tourist trade, these businesses are supported by the local community. You can buy commercial auction properties in Norfolk for £200,000-£750,000 including guest houses, pubs and tea rooms.
Auction Property Norfolk: Buying Properties
Looking for auction property in Norfolk, England? There are a few things to keep in mind that can help you save money and make a successful purchase at any of the property auctions in Norfolk.
First, auction properties are often sold as-is, so be sure to do your due diligence before bidding. This means getting a thorough inspection and understanding any repairs that may need to be made.
Second, auction property in Norfolk typically sells for less than market value, so you could potentially save a lot of money by going this route. However, it’s important to note that auction properties can also come with hidden costs, so be sure to factor that into your budget.
Lastly, don’t forget to research the Norfolk auction house you’re planning on bidding with. Make sure they’re reputable and have a good track record.
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Conclusion: Buying At Property Auctions In Norfolk
Norfolk appeals to buyers of all ages from young professionals to retirees. This is because the county mixes the best of both worlds. People can buy a homes for sale at property auctions in Norfolk on the coast or in a village and yet still be close enough to urban centres for their retail or entertainment needs.