'I sold my £845,000 home in two days': Seller on property boom
- Credit: Strutt & Parker/Nicola Duke/Archant
A Norfolk owner of a historic former shooting lodge got an offer from the first people viewing as property sales go through the roof.
Nicola Duke's home in Bylaugh, near Dereham, went on the market last Thursday and went under offer for more than the price-tag on Saturday morning.
A list of viewings with other potential buyers was cancelled after the first viewers snapped it up.
It comes as people buying face a price war over homes for sale in Norfolk. Some properties are getting bought before even going on the market with agents compiling waiting lists such is the shortage of stock and unprecedented demand.
One agent reported 18 homes going under offer in April before he'd even had time to organise photos.
And prices are being driven up as a result - some coastal areas of Norfolk have risen by 20-30pc this year.
Meanwhile conveyancers are under pressure to cope with the amount of transactions - prompting some buyers to buy with cash avoiding the time for lending approval.
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Ms Duke, who put the Shooting Box up for sale with Strutt & Parker said: "It went on the market on Thursday and the very first people to view it on Saturday bought it. I was speechless, absolutely shocked. All the other viewing were cancelled and I had to find myself somewhere to move to, which luckily I have."
Ms Duke bought the Shooting Box, a detached four bedroom period house with a one bedroom self-contained annexe dating to 1850, two years ago.
Estate agent Jamie Minors, of Minors & Brady, said: "Despite many national expert opinions, the housing market shows absolutely no signs of cooling.
"It is absolutely a sellers market, as 18 of our sales in April have come before even getting pictures of the property. Some of these sale agreed included Charles Close in Wroxham, Parkland Crescent in Horning, Hobart Lane in Aylsham, all with four offers, Eaton Road in Norwich had several parties competing and Jeckyll Road in Wymondham attracted three parties offering within 24 hours.
"Buyer demand remains the strongest I have seen it in 13 years."
Savills Research showed a 43pc increase in agreed sales in Norfolk in the first three months of 2021 compared to the same period in 2020. However new instructions were down eight pc over the same period.
Natalie Howlett-Clarke, joint head of residential sales at Savills Norwich, said: “The Norfolk property market continues to defy expectations and there remains phenomenal demand.
“The speed at which sales have been agreed has also been extraordinary. From launching a property, arranging viewings, receiving an offer and agreeing a sale – in many cases this is happening all within the space of a week.
“Consequently, stock levels are a concern because the number of properties currently available is insufficient to meet demand.
“The passion and lifestyle motivators that are currently driving the market – the need for more space, the ability to work from home, access to the countryside and coast and proximity to family – are unlikely to disappear. The fact that people are now expecting to visit the office less and Norfolk’s relative value for money when compared to other areas also make it highly desirable, so, despite the end of the stamp duty holiday, (in June) we anticipate high levels of demand will continue for the rest of the year and beyond.”