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Best places to invest in property 2020

Best places to invest in property 2020

So far, it’s fair to say that 2020 has been a fairly unusual year for the UK property market. When the COVID-19 lockdown first hit, sales and viewings across the country stopped over night. Many experts were predicting a huge property crash and homeowners everywhere nervously waited to see what would happen. 

However, when lockdown restrictions were eased in June, the property market quickly began to recover. By July, average property prices were up 2.4% compared to March, causing many to believe a mini-boom was on its way. This could make 2020 a good year for property investment. After all, especially if you put your money in the right place. 

Rural retreats 

Lockdown has caused a lot of people to reconsider their living arrangements. Spending all day, every day at home has given a lot of Brits time to reflect. In turn, some have decided what type of home they really want. A result of this has been a spike in interest in rural retreats. 

Not only do countryside homes provide people with more space to relax, socialise and exercise, they are also an increasingly practical option for the large numbers of people now working from home. The trend is especially popular among buyers with school age children, however people of all ages seem to be feeling the call of the country. 

Rightmove has reported an incredible 125% increase in the number of city dwellers searching for rural homes. A lot of people are looking for villages within easy reach of city life. However, there is also a large proportion of people looking to escape urban living altogether. 

Investing in Norfolk 

Norfolk is home to a large number of small towns and villages. It’s proving popular with those relocating from the city. Pretty market towns like Holt are likely to prove popular with buyers. Further to this, Cromer, Hingham and Downham Market are all potentially good places to invest. 

As a lot of people currently relocating to the countryside want to be within easy reach of transport links and amenities, rural areas close to Norwich are also good options for investors. A lot of these towns and villages are also within easy reach of the Norfolk Broads and the coast, two things that will make them even more attractive to potential buyers. 

Supply and demand 

A number of Norfolk estate agents are reporting 30% more buyers compared to this time last year. In fact, interest is growing so quickly that more properties are needed in order to satisfy demand. This provides investors with a fantastic opportunity to make the most of the county’s property market. New build homes and converted buildings are likely to fly off the shelves in the coming months, especially if current levels of interest continue. 

To learn more about the Norfolk property market, and find out about the investment opportunities on offer, explore our site or get in touch with a member of our team.

Best places to invest in property 2020