The closer you get to a city centre, the more expensive property becomes. It’s always been the case too. If you want to live in central London, within walking distance of the City, you will pay a pretty premium. Real estate, per square metre there, is expensive and scarce. Same with Hong Kong, New York and, bringing ti back, locally, Norwich.
Norwich city centre has always been a notch above the rest of the county, in terms of average property prices. It’s cheaper than London, of course, and Cambridge, but more expensive than the different compass points of Norfolk, apart from North Norfolk.
Blakeney, Cley, Wells, Burnham Market, Holt have their own property microclimates that eclipse Norwich, but places like Thetford, Diss, King’s Lynn, Great Yarmouth all offer much more affordable property than the city.
So what do we at Sefftons class as city centre?
In postcode terms, it’s NR1, NR2 and NR3, most of which are within easy walking distance of the centre.
NR1 stretches from the very core, south ,to encompass Lakenham and Trowse, a desirable village perched outside Norwich, which may not be an easy walk up Bracondale, but a village that commands premium prices – beginning around the £400,000 mark. Lakenham is more affordable, but the period properties clustered each side of Bracondale, leading to Surrey Street, are both desirable and expensive. Perhaps it’s having John Lewis as your nearest shop that hikes prices?
NR2 is a smaller and less populated postcode to NR1, covering only 2 square miles, largely to the west of the city centre, with lower property prices than NR1, but with similar convenience.
NR3, to the north of the city and fringing it in parts, has been dubbed “the Silver Triangle” as it contains Silver Road and Silver Street, with a none-too-subtle dig at what many regard as the pick of the city – the Golden Triangle, of Earlham, Unthank and Newmarket Road. NR3 has the highest population density and is arguably becoming a great place to live, with its cosmopolitan businesses, craft pubs and restaurants, along with green spaces, like Waterloo Park.
But is city centre living enjoying a renaissance?
We think so.
Many Norfolk residents gravitate to Norwich as a place of work and leisure. It has a fantastic market, wonderful theatres and cinemas, a vibrant arts scene, with a rolling landscape and architecture that never fails to impress. It can be gridlocked with traffic though at rush hour, and the public transport network is not the best. However for walking and cycling for work or pleasure, Norwich takes some beating.
It is enjoying a renaissance, we’ve seen clients move from suburbia to Norwich city centre and can attest to how much they like it. We see massive demand for viewings and multiple offers for practically all properties we bring to market – but the city centre demand is huge.
If you’ve not been to Norwich, you’ll be pleasantly surprised by the city – think York, Chester, Shrewsbury perhaps – but with a warmer climate.
Whether you go for NR1, NR2, NR3, there’s all sizes and shapes and values of property on offer, for upsizing or downsizing. You’ve also got a superb city centre as your playground with easy rail access to coast and capital.
If you’re thinking of life in a fine city, contact Sefftons.
We can help you move to Norwich, supporting you all the way.