A Southwold woman has somehow managed to fight off wealthy Londoners and buy a house in her home town, it has emerged.

Lorraine Fisher, 34, snapped up the tiny terraced property for £500,000, sparking suspicions she must have won the lottery or robbed a bank.

Ms Fisher, a teacher, is believed to be the first local person to buy a house in Southwold for more than eight years.

To celebrate, town dignitaries are laying on a special reception for her, with Adnams, the seaside town’s brewery, providing free beer, wine and spirits.

The achingly-trendy resort, famous for its lighthouse, has seen property prices sky-rocket, with posh Londoners snapping up any available house or flat to use as a second home.

As a result, locals have been forced out, and you can’t walk down the High Street without hearing little Archie, Aubrey or Jemima shouting at mummy for an ice cream.

Local property expert Steve Walshe is still trying to come to terms with a local woman buying a house in Southwold.

“This deserves to be front page news,” he said. “How anyone local can buy a house here is, quite frankly, astonishing.

“The smallest terraced will be upwards of half a million. Flats are not much cheaper.

“And if you wanted to buy a semi-detached or, heaven forbid, a detached property, it would be easier to buy a small country.

“But of course that is no problem for the rich Londoners, who are perfectly happy to pay extortionate amounts for weekend bolt-holes in Southwold, which makes for a pleasant outing from Islington, Fulham or Kensington.”

Local man Tony Stone is suspicious about how Ms Fisher, who works in nearby Lowestoft, managed to buy the house.

“She says she is a teacher but she still managed to pay half a million for a tiny home.

“She has either robbed a bank or come into some money – likely from some wealthy relatives in London.”