New figures have revealed that Burnham Market is the most expensive village to buy a home in Norfolk.

The average sale price in the north Norfolk village is £996,012, over the 12-month period to May 2022.

Horning and Coltishall in the Norfolk Broads follow in second and third place with average sale prices nearly £500,000 lower than Burnham Market.

Land Registry Data compiled by Savills looked at villages in Norfolk that had 20 or more sales to find the average cost.

Burnham Market, which is often named one of the poshest villages in the country, has risen from second place in 2021 and the average sale price has increased by £255,731.

Nearby Brancaster topped the list last year but has not been included in 2022's results.

Other villages that featured highly previously include Thornham and Forncett.

Ben Rivett, joint head of residential sales at Savills, Norfolk, said the figures demonstrate the enduring appeal of life by the coast or waterways.

“Of course, these figures are averages and they should be taken as such – one or two large sales can distort the numbers," he said.

"However, that said, behavioural and lifestyle changes have certainly continued to shape the market this year.

“As such, it’s not surprising to see villages in north Norfolk and those close to The Broads featuring prominently on the list.

"The areas are incredibly popular and properties remain in high demand and short supply, which puts upward pressure on prices.

“Many of the villages mentioned – the likes of Burnham Market, Docking, Horning and Coltishall – are very well served, surrounded by beautiful countryside, with a pub, a local shop and a good sense of community; alongside quality housing stock, access to schools and a good broadband connection.

"While others, Saham Toney and Beetley for example, maybe more of a surprise for those who don’t know the area.

"However they are close to larger towns like Watton and Dereham so have the benefit of a wide range of amenities while still offering homeowners a slice of rural life."

There are also several villages in the top 10 that are close to Norwich – a trend that has only increased over the last 18 months to two years.

Mr Rivett added: “Stoke Holy Cross, Cringleford and Salhouse are all within striking distance of the city and offer a great yet comparably more affordable alternative for those who want access to the countryside while also being close enough to the city centre to benefit from its excellent schools and amenities.”

Will the cost of living crisis impact the housing market in Norfolk?

While the market remained strong and busier than before the pandemic, there were signs that rising costs of living could soon have an impact.

With energy bills and food prices rising this year, there has been a drop in the number of enquiries made by home buyers in the region, although a shortage of available properties has kept prices high.

“Buyers are now a little more conscious when it comes to how much they are willing to spend,” Mr Rivett said.

“Ultimately, in the short term, the market will be predominately driven by homeowner need, rather than lifestyle influences which drove the market during the pandemic.

"As a result, after more than two years of runaway house price growth, sellers will need to become much more realistic when it comes to pricing their home, especially as more stock comes onto the market.

“As and when inflation has been tamed, the cost of debt eases and we see a pick-up in both domestic and global economic growth, we can expect price growth to return, particularly given the strength of buyers’ underlying commitment to move over the medium term.”