New figures from the Office for National Statistics show average house prices in Norwich fell 5.0% year‑on‑year to £223,000 in November 2025 (provisional), compared with an average of £234,000 in November 2024 (revised). The ONS figures are provisional local estimates of completed sales.
ONS data also show the average private monthly rent in Norwich rose to £1,139 in December 2025, up 4.7% from £1,088 a year earlier. Local agents and analysts say limited rental stock — and some landlords exiting the market — have helped push rents higher, making it harder for renters to save for deposits even as house-sale prices have softened.
Local estate agents have been flagging a shift in the market. Websters of Norwich said in a September 2025 market-insights post that the Norfolk market was “entering a new phase” as easing interest rates and shifting buyer demand altered the sales outlook. David Lambert, director of Jackson‑Stops’ Norfolk offices, has also said activity looks to be returning toward a more normal pattern after an extended period of price volatility.
Analysts link the correction in sale prices to the lagged effects of elevated mortgage costs and subdued buyer activity through 2024–25. Regional coverage has described a tentative ‘bottom‑up’ recovery in early 2026, with some signs of renewed buyer interest now that prices have stabilised; however, high rents remain a barrier to first‑time buyers.
