A Guide to Norwich’s Golden Triangle
The Golden Triangle is an area of Norwich that’s attracted a lot of attention in recent years. Its beautiful housing stock, strong community and plethora of events has made it one of the most desirable areas in the city and surrounding area to live. It’s also made it a very attractive proposition for investors. So let’s find out a little more about it.
This wedge-shaped area starts with its point in the city centre and spreads out from there between the Newmarket Road and Earlham Road. The term was coined by estate agents in the 1980s to describe the area between Unthank Road, Earlham Road and Christchurch Road in a loose triangle shape. Many consider the Unthank Road to be the centre of the Triangle.
The area is known for its Victorian terraced housing stock, with much of it being built between the 1870s and early 1900s. These kinds of terraced character properties are in high demand across the UK, especially if they feature original features such as wooden floorboards, fire places, mouldings and sash windows.
Surrounding the houses is a series of parks and green spaces, which add to the appeal of the area with young families. The presence of regenerated pubs and other community hubs also adds to the appeal.
There’s a healthy mix of diverse social groups and age ranges in the area, with a large student population keeping things lively and creative. In recent years, the Golden Triangle has become popular with young professionals and families looking to get on the property ladder or buy family homes.
It’s this diversity and up and coming nature that has led some to dub the Golden Triangle the ‘Notting Hill of Norwich. It’s a largely progressive and cosmopolitan area that voted mostly Labour or Green in the last election.
Why are investors interested?
The Golden Triangle ticks a lot of boxes for investors. The character property factor is always a plus for investors. People love to buy buildings that retain original features, with Victorian terraces always a popular choice.
The regeneration of areas such as these across the country, especially in seaside towns like Hastings and Margate are always attractive to investors. Brighton is perhaps the classic example of a city with a large character housing stock that has boomed thanks to regeneration. This has also been the case here, which is why the area became known as ‘Golden’.
The prevalence of students means the rental market is always going to be strong, with buy to let investors having few problems letting vacant property.
The strong community presence, with festivals such as GreenStock in the summer, and local park associations also attract young families, keeping prices high. However, the presence of some property with potential means there are still good returns to be made.
To find out more about the local and national property market, or if you would like to chat about anything to do with property investment, give us a ring on Norwich 01603 567804 or send us a message.
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