CONTENTS: INTRODUCTION - ASHFORD, KENT - BATH, SOMERSET - BECKENHAM, KENT - BEDFORD, BEDFORDSHIRE - BILLERICAY, ESSEX - BIRMINGHAM CITY CENTRE, BIRMINGHAM - BOURNEMOUTH, SUSSEX - BRENTWOOD, ESSEX - BRIGHTON, SUSSEX - CAMBRIDGE, CAMBRIDGESHIRE - CANTERBURY, KENT - CARDIFF, WALES - CHELMSFORD, ESSEX - CLEETHORPES, LINCOLNSHIRE - COLCHESTER, ESSEX - EPPING, ESSEX - GRANTHAM, LINCOLNSHIRE - GREAT YARMOUTH, NORFOLK - GUILDFORD, SURREY - IPSWICH, SUFFOLK - KETTERING, NORTHAMPTONSHIRE - KINGS LYNN, NORFOLK - LEICESTER, NORTHAMPTONSHIRE - LIVERPOOL CITY CENTRE, LANCASHIRE - LUTON, BEDFORDSHIRE - MANCHESTER, LANCASHIRE - MILTON KEYNES, BEDFORDSHIRE - NORWICH, NORFOLK - OXFORD, OXFORDSHIRE - PETERBOROUGH, CAMBRIDGESHIRE - READING, BERKSHIRE - ROMFORD, ESSEX - SOUTHEND-ON-SEA, ESSEX - ST ALBANS, HERTFORDSHIRE - STANSTED, ESSEX - SWINDON, BERKSHIRE - WELWYN GARDEN CITY, HERTFORDSHIRE - WISBECH, CAMBRIDGESHIRE
| Area: | NORWICH, NORFOLK | |||||||
| Category: | A | |||||||
| Investor Profile | Pension, Retirement, University, Downshifter, Business, Holiday and Cash&Equity | |||||||
| Population aged 15+: | 151,442 | |||||||
| Actual | National Average | |||||||
| Percentage Class ABC1: | 42% | 44% | ||||||
| Crime: | Violence | Sexual | Burglary | Motor | ||||
| Per 1000 population | 15 | 1 | 10 | 4 | ||||
| Yield Range: | 6.9% - 9.4% | |||||||
| Price Ranges | Low £ | Hi £ | Low £pw | Hi £pw | Low | Hi | ||
| Flats&maisonettes | 48,000 | 72,000 | 87 | 118 | 8.5% | 9.4% | ||
| Terraced | 64,800 | 97,200 | 103 | 140 | 7.5% | 8.3% | ||
| Semi-detached | 94,400 | 141,600 | 165 | 224 | 8.2% | 9.1% | ||
| Detached | 120,800 | 181,200 | 179 | 242 | 6.9% | 7.7% | ||
| Valuations above the national average by: | 0% | |||||||
| Actual | National Average | |||||||
| Capital growth last 12 months: | 38% | 18% | ||||||
| Capital growth last 4 years: | 112% | 74% | ||||||
| Large employers in the area: | Norwich Union, Virgin Direct, the hospital, MARSH, BBC TV East and Anglia Television | |||||||
| Demand For Letting: | Good | |||||||
| Average void period: | 2 weeks | |||||||
| Total (out of 10) | Capital Growth (out of 5) | Yield (out of 5) | ||||||
| Out of 10: | 8 | 5 | 3 | |||||
| Summary: | The dualling of the A11 highway makes this city a good growth target. | |||||||
| Description: | I used to work in Norwich and I loved it there. The only thing I didn’t like about Norwich was the journey in and out of the city as it was single carraige all the way till you enter into Suffolk! This is going to change as the A11 is being converted to a dual carraigeway and will be completed by the end of this year. This will really open up Norwich. Its population is growing at a greater rate compared to the rest of the UK and there is already excess demand for good quality rental properties. Many of the city’s major employers have been in Norwich for at least 20 years and is famous for its financial services, electronics and engineering which are all expanding industries. Every major high street bank, insurance company and building society has a presence in Norwich as well as some of the major accountancy and law firms, recruitment, advertising and marketing agencies. Overall Norwich’s unemployment rate is consistently lower than the national average at around 3%. This places high demand for rental properties from typically a younger than average workforce due to the type of industries they are in mentioned above. Sharing a property is not uncommon and the ‘Golden Triangle’ area properties are very desirable amongst the 20-40 age group. Properties outside this area represent better value as they do not carry the premium for being in the area and are of equivalent standard - if not better! The University of East Anglia has a site at Norwich which places further demand for rental properties. Tourism is also one of the Norwich’s fastest growing industries which has helped employment in the city as well as create demand for good clean B&Bs. | |||||||
| Mainline railway station: | 2 hours to Liverpool Street, London | |||||||
| Road Access: | Main access routes A47, A11 64 miles north east of Cambridge 68 miles to M11 | |||||||
| Local Newspaper | Norwich Evening News 01603 628311 | |||||||
| Estate Agents: | Name | Address | Tel | Web | ||||
| Tops Property Services | 15-17 Princes Street Norwich Norfolk NR3 1AF | 01603 767050 | www.tops-property.co.uk | |||||
| Ewings | Marketplace Reepham Norwich Norfolk NR10 4JJ | 01603 870473 | www.ewings.co.uk | |||||
| Haart Estate Agents | 18 Queen Street Norwich Norfolk NR2 4SQ | 01603 761600 | ||||||
| Robert Wells Property Agents | 2 Duke Street Norwich Norfolk NR3 3AJ | 01603 660368 | ||||||
| Potter & Co | 2 Prince of Wales Road Norwich Norfolk NR1 1LB | 01603 627201 | ||||||
| Irelands | 2 Harford Centre Hall Road Norwich Norfolk NR4 6DG | 01603 250808 | www.irelands.co.uk | |||||
| Gainsfords Estate Agents | Church Road Hoveton Norwich Norfolk NR12 8LG | 01603 782978 | ||||||
| Letting Agents: | Name | Address | Tel | Web | ||||
| William H Brown | 01603 627877 | www.sequencehome.co.uk | ||||||
| FPD Savills plc | 8-10, Upper King St Norwich Norfolk NR3 1HB | 01603 229229 | www.fpdsavills.co.uk | |||||
| Bush Property Management | Bridge House 1, Bridge Court Norwich Norfolk NR3 1UF | 01603 614004 | www.bushmanagement.co.uk | |||||
| Elliots Residential Lettings | 01603 454550 | |||||||
| J S M Property Management | Eloise House 14, St. Georges St Norwich Norfolk NR3 1BA | 01603 630671 | www.jsmproperty.co.uk | |||||
| Brown & Co | 01603 629871 | www.brown-co.com | ||||||
| Tops Property Services | 01603 632244 | www.tops-property.co.uk | ||||||