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How Will Rising Inflation Affect the Norwich Property Market in 2022?

The UK is currently experiencing its highest inflation rate since the early 1990s. This increase in prices has primarily come about because of an increase in demand for goods and services following lockdown last year, together with global supply chain issues. In this article, I will look at all the factors and what it means for the Norwich property market.

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Norwich Household Heating Bills Set to Rise to £133,012,088 in 2022

The energy bills of every Norwich resident will rise in April as the price cap increases to account for the global increase in the cost of gas. Those not on the gas mains will still be hit as the UK uses gas to make 45% of its electricity. So, what can Norwich residents do to reduce their energy consumption and ultimately save money?

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Why Are There So Few Norwich Homes For Sale?

There are 853 properties for sale today in Norwich; roll the clock back exactly a year, and the figure was 1,215 - so there’s been a drop of 30%. This drop is being dubbed the ‘for sale board crunch'. This means it is a seller’s market in Norwich. With demand at an all-time high, many Norwich home buyers are in a state of misery as Norwich house prices have grown in the last few years, forcing many of them to review their plans.

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PLEASE NOTE

Easter Opening Hours

Good Friday – Closed

Saturday – Open as normal

Sunday – Closed

Easter Monday – Closed

For out of hours contact/emergencies please see information below:

For Tenants/landlords – please call 01603 751555 and follow the instructions. This will provide you with an out of hours contact number, plus the number of an emergency plumber.

For Leaseholders – please call 01603 226500 and follow the prompts. Listed are numbers for various contractors, depending on the type of emergency. 

- From all of us at Watsons -
Have a Happy Easter!