Revealed: The fastest place to sell a home in Norfolk
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Parts of Cromer and Norwich have been named among the fastest areas to sell your home in East Anglia, according to new data.
House buying firm Property Solvers has used its speed of sale tool to rank the areas in East Anglia with the fastest and slowest sale times.
The latest data set, which analysed over 3,911 property sales in East Anglia between April 2020 and April 2021, ranked Halesworth in Suffolk the quickest, with 24 properties taking an average of 83 days to sell – that's almost three months – followed by Cromer in north Norfolk, which took an average of 93 days.
The figures reflect the surge in demand already seen in coastal areas, and two areas of Norwich were also included in the top 10.
Properties in the NR14 postcode, which include addresses in Poringland, Loddon and Framingham Earl took an average of 99 days to sell, and in the NR8 postcode, which includes Costessey, Taverham and Ringland, they took an average of 100 days to sell.
In NR4, which covers the Golden Triangle and areas around UEA, sales took an average of 101 days.
The regional average for house sale transactions across East Anglia over the past year took 112 days.
According to Property Solvers, the statistics track the moment a property is listed on the UK’s largest property portal Rightmove to the point it’s marked as officially ‘sold’ at the HM Land Registry.
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Norwich postcodes also appeared in the top 10 for the slowest sales, with houses in NR2 taking an average of 128 days and houses in NR9 taking 123 days. Dereham was ranked the slowest overall, with 27 properties in the NR20 postcode taking an average of 134 days to sell.
Property Solvers co-founder Ruban Selvanayagam commented: “Despite the broad level of inactivity under the first Covid-19 lockdown, the estate agency industry has recovered relatively quickly. While buyer demand certainly hasn’t waned as many predicted, the time for house transactions to complete has certainly lengthened.
“Many solicitors, mortgage brokers and other professionals in our sector have been working from home which has often resulted in further administrative and other operational delays. However, with restrictions gradually being lifted, and more people returning to the office, the property buying and selling process should hopefully accelerate."