The Best Locations In Norfolk To Invest In Property

Why Invest In Norfolk?

Norfolk is a growing country and with every year that passes Norfolk gets more excellent transport links and its proximity to some of the best countryside and seaside locations in the UK. This has made the county a desirable location for homebuyers and property investors.

The local universities University of East Anglia and Norwich University Of Arts also ensure that that there is an ample supply of students and professionals who choose to stay in Norwich to work.

Norwich is currently one of the fastest growing cities in the UK and this includes population and economy. There are many businesses in tech, finance, law and some well-known business such as Aviva, Marsh and many more. Norwich’s main appeal is that is big enough to have many amenities most people desire such as good schools, restaurants, shopping centers and nightlife. The city is also safer which appeals to many families and as such Norwich regularly scores high for the quality of life in numerous surveys.

As a result of the exciting and varied opportunities in the region, an increasing number of investors are looking to Norfolk as profitable and lucrative investment.

Investment Locations Norfolk

Norwich (City Center & Golden Triangle)

Population: 25,300
Average House Price: £180,000 – £200,000

The City Center is the perfect location in Norfolk to invest if you are looking to purchase properties to let to professionals working in the city and students living in the Golden triangle. The aptly-named Golden Triangle gets its name as it is a good distance from the university, city center, and local amenities.

North East

Population: 36,500
Average House Price: £220,000 – £260,000

Districts in the North East of Norfolk include Catton, Old Catton, New Catton, Sprowston and New Sprowston, Heartsease plus Thorpe End and Thorpe St. Andrew.

Due to the opening of the A1270 Broadland Northway Bypass these locations in Norwich now have improved access. This makes this more attractive to live in and for future developers. These areas are also close to the Norfolk Broads and Norfolk coastline and beaches.

South East

Population: 12,700
Average House Price: £170,000 – £190,00

Districts in the South-east included Lakenham, Old Lakenham and Tuckswood. These locations have good access to the city and good access to the A47 for those who need to commute out of Norwich and property values are increasing in this region.

South West

Population: 30,100
Average House Price: £200,000 – £380,000

The South West is the location of University of East Anglia, Norfolk and Norwich University Hospital and Norwich Research Park. This area encompasses Mount Pleasant, Earlham, Colney, Eaton and Cringleford. These locations are always popular with students due to easy access to the university.

South West Norwich also appeals to professionals working at the N& N Hospitals and research park making a good location for investment in family homes and professional lets.

Prices in this area are mid-higher tier. Yields in the NR2 and NR4 postcodes are likely to be around 4.2% – 4.7%.

North West

Population: 32,500
Average House Price: £250,000 – £300,000

This area includes Heigham Grove, Hellesdon, Upper Hellesdon, Costessey, New Costessey, Bowthorpe and the separate settlements of Drayton and Taverham. Bowthorpe Industrial Estate is also located here.

The inner districts further into the villages contain some of Norwich’s most sought after residential locations.

This area may be covered by the NR4, NR5 or NR8 postcodes where yields are 3.8% – 4.7%.

Great Yarmouth

Population: 39,000
Average House Price: £181,527

Located just 20 miles from Norwich, Great Yarmouth provides investors with plenty of options. Due to attracting large numbers of visitors in the summer, it is also the location of offshore oil, gas and renewable energy companies.

Great Yarmouth has had its economic difficulty but there is new investment in the area, a new leisure centre and water park should attract more holiday makers. And cheap property prices has attracted many looking for cheap buy to lets. If you are looking to invest in Norfolk, Great Yarmouth is a good place to get your feet wet!

Yields here in NR29, NR30 and NR31 range between 4.9% and 5.4%.

The Ultimate Guide To HMO's in Norwich (2021)

What is a HMO?

HMO stands for ‘House in Multiple Occupation’, which means a property rented out by at least 3 people who are not from 1 ‘household’ (for example, a family) but share facilities like the
bathroom and kitchen.

Under the 2004 Housing Act, a household refers to:
• Families, single people, and couples (including same-sex couples)
• Other relationships, such as foster families, carers, and
domestic staff
In most instances, student houses in Norwich will fall under the HMO category, although not all will need a licence.

Do I need a licence?
Not all HMOs need a licence. However, there are currently around 3000 HMOs in Norwich with over 800 requiring a licence, so it is important to find out whether or not you require one. Under the Housing Act 2004, you must have a licence for your

HMO if all of the following apply:
• There are shared amenities such as bathrooms, toilets,
or cooking facilities
• The house is occupied by five or more households
(including children)

What are the conditions of the licence?

Licence conditions can vary from property to property. As a landlord of an HMO, there are several specific requirements that
need to be complied with. However, in the majority of instances, the conditions will be the same,

Some of these requirements include:
• Displaying your name and contact details within the property
• Maintaining any safety equipment
• Passing several safety checks on your property - i.e., having
installed smoke and carbon monoxide alarms, and fire escape
facilities

A more comprehensive list of the requirements for running an HMO can be found on the Norwich City Council website.

What does it cost?

Each Norwich City Council HMO licence currently costs £140 and lasts for one year.

What amenities do I need?

All licenced HMOs need to be supplied with amenities such as heating, kitchen facilities, washing facilities, and toilets. The number and type of amenities depends on the house. Norwich
City Council have a booklet that contains the minimum standards required of licenced HMOs. These form part of the licence conditions, and should be used by landlords and agents as a
guide to amenities provided in all other HMOs.

How To become A Landlord In The UK? (2021)

Investing in property is one of the smartest decisions one can make, you can get good returns in the long-term and generate residual income that can support you financially. Over the last 5 years, the number of buy-to-let landlords has increased by a massive 49% from 1.8m to 2.7m. However, the road to becoming a landlord is not just filled with profit. Becoming a landlord can come with its own headaches and risk you need to be prepared for.

In this guide, we will advise you on how to start property investing to ensure a good start in the private rent sector.

So, if you:

Are interested in becoming a landlord;
Are unsure what is required of a landlord;
Want to know what you’ll need to become one
Already a landlord and freshening up your knowledge

Then stick with us!

The benefits of being a landlord in the UK

A good landlord who buys property in desirable areas can make huge profits from their rental properties, but this takes time to become a seasoned property investor who knows the best locations and the best type of housing for their goals.

Stable investment

Now we won't tell you there is such a thing as a guaranteed investment, but the property market is less volatile than stocks and other investments. House prices in large cities have been increasing and as a result, the buy-to-let model has seen an increase in the UK in recent years. Similarly, the changing demographics of the UK has meant that there is a demand for rental properties particularly at the lower end of the market.

Your property buying strategy

As mentioned before there are many property investment strategies you can embark on. In this guide, we will only look at some of the more popular strategies and consider pros and cons for each.

Buy-to-let

Essential this type of investment strategy can result in you the landlord having someone else pay for your mortgage for you and you can benefit in the long-term capital growth of owing the property. If you are able to buy the right property at the right price, your tenants who are paying rent each month can be sufficient to cover the mortgage payments. The downside to this strategy is you will need a lot of capital for a buy-to-let mortgage around 25% of the property value as a deposit.

Traditional long-term residential let.

If you buy at the right price and your rental income covers your mortgage payments, then you can effectively have a property for free and can look forward to the capital appreciation of the asset. However, the substantial increase in UK house prices has meant that the prices of properties are now often out of balance with rental income potential. We have a wealth of experience in this area so we regularly look for high-yield properties on behalf of our landlords to add to their portfolios.

Student accommodation.

Another form of buy-to-let is student accommodation, these properties are a little different from the traditional home. The lounges and and sitting rooms ore often than not have to be converted to bedrooms and communal spaces need to be created. The benefits of this is that a large property split into rooms can generate more income than renting the whole house to a single-family. The key to a successful student let is buying in the right location near universities and close to all student amenties.

HMOs

These are 'houses in multiple occupations' and these properties come under special government rules. Under the changes in the Housing Act 2004, if you let a property which is one of the following types it is considered an HMO:

An entire house or flat which is let to three or more separate tenants who share e a bathroom, toilet and kitchen.
A house which has been converted entirely into bedsits and which is let to three or more separate who share bathroom, toilet and kitchen facilities.
A converted house that contains one or more flats that are wholly self-contained (i.e the flat does not have a kitchen, bathroom or toilet) and which is occupied by three or more separate tenants.
A building that is converted entirely into self-contained flats if the conversion did not meet the standards of the 1991 Building Regulations and more than one-third of the flats are let on short-term tenancies.

Corporate let

This is where you let your house out to employees (often from the same company). The company itself may actually be the tenant. Corporate tenants are likely to be safer tenants who will conduct themselves in a professional manner and the risk of rent arrears is reduced. The wear and tear on the property will also be reduced as corporate tenants generally have their own homes they will stay at over the weekend.

Holiday lets

The idea of owning your dream home and then letting it out during the year to cover the cost is a very appealing idea. Holiday lets can also generate higher levels of rent per week/month than a comparable residential let property.

Landlord responsibilities and regulations

Now we have gone over the way you can invest in properties, we need to tackle what you need to ensure you are a good landlord. These usual come under human habitality, fire regulations, electrical and gas safety. Regardless of what property you will be letting, not following these regulations to the word could put you on the wrong side of the law.

Fire regulations,

Your tenant needs to be warned if a fire breaks out in the property and also have means of escape. This means as the landlord you need to ensure there are fire alarms on every level of your property and exits are kept clear so tenants can leave the property quickly in an emergency.

Gas safety checks

You will need a gas safety check every year to to ensure that all gas appliances, pipes, and flues are in safe working order for your tenants.

EPC (Energy Performance Certificate)

EPCs are used to measure how energy efficient a home is and this is very important when letting out as tenants are now looking for eco-friendly properties and new legislation from 2025 requires every property to reach a certification of C or above.

Electrical safety

Before a property is let, you need to ensure you have carries out an EICR to ensure that all electrical appliances and installations are safe for tenants to use. Surprisingly in the UK, there is no regulated inspection requirement for this but if someone is hurt using an appliance in a property you let. As the landlord, you will be held liable.

Deposit Schemes

When you let a property and take a deposit, this must be stored in one of the three deposit protection schemes which have been sanctioned by the government. This ensures that the deposit is held fairly for both parties should any disputes arise.

Right to rent.

You must ensure that every tenant has the right to rent a property in the UK. As you can imagine, this has become doubly important since the advent of Brexit. Now every EU citizen must be checked thoroughly, to ensure that they are able to reside in the UK.

Who is responsible for the let and tenants?

Estate Agents for full property management - This is for those who want to keep their hand clean and let an agent carry out work for them and ensure all regulations are adhered to and tenants are sources.

Manage it yourself - Unless you are a seasoned property investor this option may not be suitable as you will need to be aware of all legislation and and take full responsibilities for everything including phone calls from tenants at midnight.

Let us help you - We have a property management service for landlords by landlords. This means we are more affordable than the estate agents and we have experience helping landlord increase their portfolios and increase residual income from their lets.

How To Make A Natural Air Freshener?

Are you looking for a natural and easy way to make your house smell fresh?

1 sliced lemon, 2 tablespoons rosemary and a dash of vanilla.
1 sliced lime and 1 piece chopped ginger root.
1 sliced orange, 1 teaspoon cinnamon, and a dash of nutmeg and cloves (smells like pumpkin pie).
1 sliced lime and 2 tablespoons thyme.

The Ultimate Guide For Student End of Tenancy cleaning (2021).

Whether you have just finished exams and are set to graduate or you are looking to move to a new property. Cleaning your property is one of the last things you will have on your mind.

Ensuring you leave your property in the same condition or if you really love your landlord a better condition is of the utmost importance. If your property is not cleaned to a high standard you may have some money deducted from your deposit.

We do not want any student to be caught out so we have created a guide for you to be able to nail your end of tenancy cleaning.

Kitchen

The kitchen is a room that has probably seen the most mess, empty beer cans and take away stains plague most uni student kitchens. If you are going to start your end of tenancy cleaning this is the best place to start.

Start by purchasing some disinfectant kitchen sprays to tackle stubborn stains. The sinks and taps will need to be thoroughly cleaned to get them back to their former shiny glory. To get rid of any limescale, you can soak a cloth in vinegar and secure it around the taps for about an hour to help remove the limescale.

Have you also noticed your kitchen sink takes a little longer to drain? You may need to purchase some unblocker to ensure the drains are left clean. Vinegar and baking soda can also be used if you do not have any drain unblocker plus it’s safer for the planet. Once the drains are done you can focus on wiping down all the external surfaces in your kitchen. Table tops, counters, fridges, white goods etc.

And when the externals are done, it’s time to focus on the interiors. Make sure you remove any food in the cupboards, you do not want to surprise the new tenants with mouldy food. Wipe down the insides of the cupboards and fridge with a store bought cleaning agent, making sure to remove any stains or spills. Then move on to the oven, using an oven cleaning solution to remove those tough grease stains. Don’t forget to check the tiles and grill for grease too.

Cleaning Bedroom/s

Now depending on if you have flatmates this will require everyone in the house to put the same effort in. If one person leaves their room messy it can mean the rest of the house can still get their deposit deducted.

All the floors must be vacuumed and all the surfaces need to be wiped including interior and exterior surfaces. Uni students are known for sticking up posters and photos with blu-tack, so any remnants need to be removed. However, you must take care not to forcefully remove any blu-tack as you can peel off paint. At this point you will also have to add repainting the room on your list of chores. Lastly, to leave the room smelling fresh, open the windows to get some air circulation and use an odour abolishing spray to give the room a fresh and clean scent.

Cleaning Bathroom

The best place to start here is the dreaded toilet bowl, start spreading some bleach around the bowl and let it sit for about ten minutes. Use a toilet scrub and then flush the residue away. The bath needs to be wiped down to leave it sparkling white. Your old shampoo and soap bottles must all be disposed of. Ensure the mirror and any windows are thoroughly cleaned. Finish off by mopping the floors and disposing of any bins.

Cleaning living room

Remove any furniture that did not come with the property. Vacuum the sofas and polish any wooden surfaces. Vacuum the floor, making sure to get into the corners so that no dirt is left behind. Dust the whole room and air it out by opening up the windows for at least an hour.

We have also spoken with one our cleaners for any other tips they recommend for students who are leaving their properties:

“One of the biggest mistakes students make is ignoring the fine details, this is where landlords can take some of your deposit” - Aaron Bullet (Cleaning Manager)

If you are looking for affordable and trusted cleaners to ensure your property is left in excellent conditions. Please fill the form below and one of our staff will provide you with an end of tenancy cleaning quote.