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House Prices in NR1 House Prices in NR1 (Norwich)

The average house price in NR1 (Norwich) is £293,428 using HM Land Registry data.

The average property price increased by £19,084 (31.06%) over the last 5 years and increased by £3,824 (4.53%) over the last 12 months.

Over the last year, there were 333 residential property sales – a decrease of 170 transactions (-51.05%) relative to the previous year. The majority of house sales (87) were in the £120,000 - £176,000 range. Then came properties in the £176,000 - £232,000 range, where 82 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 109 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-6,442 (-2%).

In Oct 24, there were 94 new estate agency instructions, 70 agreed home sales and 68 property price reductions.

Nearby Postcodes: IP18, IP19, IP20, IP21, IP22, IP24, IP25, NR10, NR11, NR12, NR13, NR14, NR15, NR16, NR17, NR18, NR19, NR2, NR20, NR21, NR22, NR23, NR24, NR25, NR26, NR27, NR28, NR29, NR3, NR30, NR31, NR32, NR33, NR34, NR35, NR4, NR5, NR6, NR7, NR8, NR9, PE31, PE32, PE37

5-Year Average Property Prices in NR1 (Norwich)

31.06%

Property prices in Norwich increased by 31.06% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in NR1 (Norwich) Over the Last Year

4.53%

Property prices in Norwich increased by 4.53% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Property Market Heat Gauge for NR1 (Norwich) - Oct 24

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 81 to 100 days, the broad evidence suggests a very slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a notable market slowdown or a combination of both. In such scenarios, vendors may either choose to wait for the market to pick up (which may result in relisting the property at a later date). Those committed to selling will often need to drop the price to a level that will entice genuine homebuyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in NR1 (Norwich)

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in NR1 (Norwich)

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in NR1 (Norwich)

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the NR1 (Norwich) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the NR1 postcode area since 1995.

Recent Sales in NR1 (Norwich)

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
53 Ingram Court, Norwich, Norfolk, NR1 2PY£125,000£125,000£0025 Apr 202412 Aug 2024109 Days
21 Lindley Street, Norwich, Norfolk, NR1 2HF£240,000£240,000£0002 May 202408 Aug 202498 Days
3 Old Lakenham Hall Drive, Norwich, Norfolk, NR1 2NW£170,000£170,000£0015 Feb 202402 Aug 2024169 Days
27 Florence Road, Norwich, Norfolk, NR1 4BJ£230,000£205,000-£25,00019 Apr 202401 Aug 2024104 Days
18 Scott Road, Norwich, Norfolk, NR1 1YR£155,000£144,000-£11,00019 Apr 202401 Aug 2024104 Days
64 Netherwood Green, Norwich, Norfolk, NR1 2JG£200,000£200,000£0003 May 202431 Jul 202489 Days
166 Sentinel House, Surrey Street, Norwich, Norfolk, NR1 3SZ£249,950£176,000-£73,95011 Aug 201126 Jul 20244733 Days
35 Hardy Road, Norwich, Norfolk, NR1 1JN£240,000£235,000-£5,00029 Feb 202425 Jul 2024147 Days
7 Heathside Road, Norwich, Norfolk, NR1 1TH£510,000£500,000-£10,00028 Mar 202418 Jul 2024112 Days
125 Borrowdale Drive, Norwich, Norfolk, NR1 4NA£270,000£265,000-£5,00019 Apr 202412 Jul 202484 Days
34 Arnold Miller Road, Norwich, Norfolk, NR1 2JD£220,000£220,000£0004 Jul 202301 Jul 2024363 Days
47 Riverside Road, Norwich, Norfolk, NR1 1SR£240,000£240,000£0013 Feb 202428 Jun 2024136 Days
27 Hardy Road, Norwich, Norfolk, NR1 1JN£240,000£236,000-£4,00015 Feb 202428 Jun 2024134 Days
37 Kerrison Road, Norwich, Norfolk, NR1 1JB£250,000£245,000-£5,00024 Oct 202321 Jun 2024241 Days
37 Brian Avenue, Norwich, Norfolk, NR1 2PH£425,000£405,775-£19,22526 Feb 202419 Jun 2024114 Days
21 Stan Petersen Close, Norwich, Norfolk, NR1 4QJ£500,000£490,000-£10,00005 Oct 202313 Jun 2024252 Days
154 Thorpe Road, Norwich, Norfolk, NR1 1TJ£400,000£382,500-£17,50001 Sep 202312 Jun 2024285 Days
60 Cremorne Lane, Norwich, Norfolk, NR1 1YW£165,000£165,000£0007 Mar 202410 Jun 202495 Days
46 Sandy Lane, Norwich, Norfolk, NR1 2AB£240,000£235,600-£4,40011 Oct 202304 Jun 2024237 Days
15a, Matlock Road, Norwich, Norfolk, NR1 1TL£350,000£310,000-£40,00024 Nov 202303 Jun 2024192 Days

Most Expensive Streets in NR1 (Norwich)

PostcodeStreetAreaAverageNo. of Sales
NR1 2ATBracondaleNorwich£738,3333
NR1 4AHCotman RoadNorwich£633,6504
NR1 2QLCecil RoadNorwich£615,8336
NR1 4AFCotman RoadNorwich£600,7504
NR1 1RTThorpe RoadNorwich£597,8333
NR1 2BEBracondaleNorwich£596,0005
NR1 2QQGrove WalkNorwich£542,5003
NR1 1THHeathside RoadNorwich£529,0005
NR1 4ADWellesley Avenue SouthNorwich£521,0003
NR1 4ALTelegraph Lane EastNorwich£518,3333

Least Expensive Streets in NR1 (Norwich)

PostcodeStreetAreaAverageNo. of Sales
NR1 1HXCavendish Court, Recorder RoadNorwich£97,56224
NR1 1QSNormandie Tower, Rouen RoadNorwich£98,0005
NR1 1BWCavendish House, Recorder RoadNorwich£99,07613
NR1 1QRNormandie Tower, Rouen RoadNorwich£103,7504
NR1 2ETSunny HillNorwich£114,3333
NR1 2BHThe TowersNorwich£114,8005
NR1 2HQIngram CourtNorwich£116,8256
NR1 1JGStuart GardensNorwich£119,8805
NR1 2JFNetherwood GreenNorwich£120,0764
NR1 2LHSpringbankNorwich£120,3577

Explore NR1 (Norwich) using map

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