As property prices in London and the surrounding areas continue to force young people to move further afield to get on the property ladder, it has become a great time to invest in Norwich. As prices in the city rise by around 8% a year to catch up with the capital, buying property here is seeing some great returns on investment.
But what is it about the city that is making it so appealing to people looking to get on the property ladder? The city’s green spaces and closeness to countryside are a big plus, as are the schools, attractive housing stock and popular city centre area.
In addition, the transport links to and from the city are also a draw, and with further plans to improve these, Norwich continues to attract investors.
Norwich railway station is the terminus of the Great Eastern Main Line serving the East of England from London Liverpool Street. There are three trains an hour to the capital.
The journey time is currently just under two hours, which makes it a little far to commute with ease (although some people do) but it means London is close enough to make regular visits.
Even more exciting is the Norwich in 90 plan, which aims to cut journey times down to an even more manageable 90 minutes with state of the art new trains and 180 extra services a week. The new rolling stock will also feature free wifi so you can work on the commute.
The road network around the city is already good but there are a number of planned developments that will make access and transport times even better. These include the A47 development which will improve the link between Norfolk and the Midlands on one side and Europe on the other. This will involve renovating the 105-mile stretch of the A47.
Another major project is the Northern Distributor Road. It’s a 20km dual carriageway stretch under construction to run from Postwick to the A1067, linking to the airport.
Projects such as these show that there is investment in the area, which can led to a boost in visitor numbers, retail and more. It also makes property more appealing to buyers, so it’s a great opportunity for investors.
If you’d like to find out more about the planned road and rail developments in Norwich, then get in touch with us here at Agile.
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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