In last week's publication, we took a close look at the popular coastal towns and villages of north Norfolk, highlighting growth trends and average prices. This week, we move our radar inland and look at what many people, certainly us in the office, consider to be the ultimate way of living: the market town.
Many market towns carry with them both prestige and history and our area is no exception.
Fakenham, the Burnhams, Swaffham, Dereham and Holt are justifiably popular places to invest and live in.
But how do property prices compare in these?
We are slightly biased at Pure North Norfolk as we do think our own estate agency base in Fakenham offers a great way of living at prices slightly lower than some of the other market towns in our area. Fakenham has a quaint historic centre, and is well served with good schools locally. It has a racecourse, ancient museum, cinema, bowling alley, and offers rural attractions at Sandringham and Pensthorpe Nature Reserve.
It lies only 19 miles from King's Lynn and 25 miles from Norwich.
Property for sale and rent is snapped up quickly in Fakenham, with an average property selling price of £199,364, which is £28,000 lower than the county average, but Fakenham's annual capital growth was 11% last year, much higher than many Norfolk coastal and rural addresses.
The market town of Swaffham, another town steeped in history, some 16 miles south-west, has a lower average selling price still of £189,000,with slower price growth of 4% in 2016. Swaffham has a beautiful centre and formed the set for Stephen Fry's "Kingdom". Nearby Castle Acre is regarded as a very desirable address and its much higher average selling prices reflect this.
Dereham, another fine market town, due south of us in Fakenham, is more affordable still with an average sold price coming in at just above £184,000. Dereham's growth in 2016 was 3%, meaning capital growth is 8% lower than Fakenham.
We will now look at the real big hitters of north Norfolk: Holt and Burnham Market.
Holt is a Georgian honeypot of boutique shops, hotels and restaurants and is home to Baker and Larner's, sometimes called the Harrods of Holt, and has a proud retail heritage stretching back to 1631. Holt is a beautiful town, one of the gems of north Norfolk and its average prices inevitably eclipse those of other market towns in our area.
Some figures about Holt.
Its average selling price in 2016 was £313,700, much higher than Swaffham, Dereham and Fakenham, though less than nearby Blakeney (£584,000) and Cley Next the Sea (£429,000).
Holt is also seeing high capital growth - 13% in 2016.
Finally bijou Burnham Market, home to the Hoste Arms, an array of upmarket shops and beloved by second homers, looking for proximity to the coast within a desirable market town.
Burnham Market and its five associated villages, the Burnhams is expensive.
Here's some figures:
Burnham Market - average selling price £503,000
Burnham Norton - £512,000
Burnham Deepdale - £651,000
Burnham Overy Town - £712,000
Burnham Overy Staithe - £813,000
Despite these high averages, all the Burnhams are seeing strong annual price growth. They have the highest average prices of any place in north Norfolk.
Whether you're in Dereham, Fakenham, Swaffham, Holt, or the Burnhams, these figures are from Land Registry and we, as professional, independent estate agents can give you a more precise price expectation based on our intimate knowledge of coast and country.
We also have a hugely popular free valuation tool too.