Despite an 8.6% rise in house prices during the past year, property in the region, which stretches from Greater London to the North Sea coast, is still affordable. This is partly the result of poor communications: congested roads and poor rail services have made commuting to London a 90-minute trek or worse. That is set to change, however, with more than 30 road and five rail-line improvements promised.

Prices in Cambridge, already one of Britain’s most expensive cities, have gone up by more than 10% in the past year, according to the Land Registry. There have been similar rises in St Albans, which benefits from good schools and a 19-minute fast rail link to London King’s Cross. The average home there costs £260,000 – against just £144,000 in unloved and gritty Luton, half an hour further north. Surrounding areas, where commuting to London is more difficult, have seen smaller price increases.

Those buying second homes, meanwhile, continue to flock to north Norfolk, where they account for 10% of the market. “It’s not going to be a record year, but prices are buoyant,” says Henrietta Bruce, a valuer at agents Belton Duffey in Wells-next-the-Sea. “We’re still getting many buyers from north London, Leicestershire, Northamptonshire and the Midlands.” Yarmouth and the Suffolk coast also remain popular with buyers from outside the region.

Average property price: £188,077

Annual increase: 8.6%

Predictions: Knight Frank expects a 6% rise this year in the region

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