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Confidence is reflected in brisk bidding

PUBLISHED: 15:48 15 June 2006 | UPDATED: 11:01 22 October 2010

Norwich and county homes sold well above estimate last week as buyers reaffirmed their confidence in local bricks and mortar at the Brown & Co summer property auction.

Norwich and county homes sold well above estimate last week as buyers reaffirmed their confidence in local bricks and mortar at the Brown & Co summer property auction.

A busy saleroom at the Maids Head Hotel saw auctioneer Peter Hornor dispose of nine out of 12 lots, eight going above estimate and in many cases considerably so. Three lots were withdrawn after failing to reach reserve.

Bidding was generally brisk as private buyers, investors and developers vied with each other to secure the property of their choice.

Top performer was fine mid-18th century Moor Lodge, on the outskirts of Reepham, which soared 40pc above top estimate to fetch £526,000. The Grade II listed red brick and pantile home had been owned by the same family for a century or so, and neighbouring Moor Lodge Cottage, in the same ownership, also did well, making £267,000 on a guide of £225,000.

Norwich properties fetched very good prices, two north city terraces at Albany Road and Wingfield Road reaching £110,000 and £117,000 respectively (both estimated at £90,000). A Hawthorne Avenue, Hellesdon bungalow for improvement ran to £133,000 (£115-£125,000), while an interesting and unusual detached two-bed cottage with parking space and good-sized garden at Rose Valley, off Unthank Road, went £18,000 over top guide to £218,000.

A detached barn with planning permission for conversion to a four-bed home at Ditchingham, near Bungay, made £176,000 (guide £150,000), and just under nine acres of amenity land at North Walsham and a building plot at Wicklewood, a few miles from Wymondham, also found buyers at £43,000 and £80,000 respectively.

Peter Hornor was delighted with the results, which he said showed confidence in properties across the board, adding: “The Reepham sales confirm that people are still prepared to pay premium prices for houses in the right location.” Brown & Co already has seven entries for its next auction on September 8.


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