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House Prices in NR3 House Prices in NR3 (Norwich)

The average house price in NR3 (Norwich) is £255,294 using HM Land Registry data.

The average property price increased by £41,259 (24.8%) over the last 5 years and increased by £8,267 (3.77%) over the last 12 months.

Over the last year, there were 324 residential property sales – a decrease of 157 transactions (-48.46%) relative to the previous year. The majority of house sales (86) were in the £202,000 - £238,000 range. Then came properties in the £130,000 - £166,000 range, where 55 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 74 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-5,157 (-2%).

In Oct 24, there were 86 new estate agency instructions, 73 agreed home sales and 52 property price reductions.

Nearby Postcodes: IP18, IP19, IP20, IP21, IP22, IP24, IP25, NR1, NR10, NR11, NR12, NR13, NR14, NR15, NR16, NR17, NR18, NR19, NR2, NR20, NR21, NR22, NR23, NR24, NR25, NR26, NR27, NR28, NR29, NR30, NR31, NR32, NR33, NR34, NR35, NR4, NR5, NR6, NR7, NR8, NR9, PE31, PE32, PE37

5-Year Average Property Prices in NR3 (Norwich)

24.8%

Property prices in Norwich increased by 24.8% 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 NR3 (Norwich) Over the Last Year

3.77%

Property prices in Norwich increased by 3.77% 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 NR3 (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 61 to 80 days, the broad evidence suggests a slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a market slowdown or a combination of both. In such scenarios, some vendors may either choose to wait for the market to pick up (which may result in some relisting the property at a later date). Others simply reduce the price to a level that will entice more buyer 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 NR3 (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 NR3 (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 NR3 (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 NR3 (Norwich) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the NR3 postcode area since 1995.

Recent Sales in NR3 (Norwich)

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
157 Knowsley Road, Norwich, Norfolk, NR3 4PT£230,000£230,000£0023 Apr 202413 Aug 2024112 Days
41 St Georges Street, Norwich, Norfolk, NR3 1DA£350,000£345,000-£5,00029 Feb 202409 Aug 2024162 Days
83 Copenhagen Way, Norwich, Norfolk, NR3 2RB£300,000£295,000-£5,00024 Apr 202409 Aug 2024107 Days
265 Sprowston Road, Norwich, Norfolk, NR3 4HZ£225,000£225,000£0022 May 202409 Aug 202479 Days
56 Shipstone Road, Norwich, Norfolk, NR3 1JY£220,000£215,000-£5,00010 Feb 202408 Aug 2024180 Days
6 Heath Road, Norwich, Norfolk, NR3 1JW£239,950£230,000-£9,95012 Mar 202408 Aug 2024149 Days
7 Clabon Third Close, Norwich, Norfolk, NR3 4HH£450,000£425,000-£25,00028 Mar 202406 Aug 2024131 Days
52 Anchor Street, Norwich, Norfolk, NR3 1NR£185,000£170,000-£15,00009 Apr 202406 Aug 2024119 Days
1 Ardney Rise, Norwich, Norfolk, NR3 3QH£260,000£245,000-£15,00002 May 202431 Jul 202490 Days
15 Tillett Road, Norwich, Norfolk, NR3 4BJ£495,000£495,000£0025 Apr 202431 Jul 202497 Days
78 Berners Street, Norwich, Norfolk, NR3 2JF£220,000£217,000-£3,00024 Feb 202426 Jul 2024153 Days
6 Philadelphia Lane, Norwich, Norfolk, NR3 3JN£270,000£270,000£0026 Jan 202426 Jul 2024182 Days
166 Templemere, Norwich, Norfolk, NR3 4EE£145,000£140,000-£5,00016 Feb 202426 Jul 2024161 Days
7 Hansard Close, Norwich, Norfolk, NR3 2LY£220,000£212,500-£7,50019 May 202322 Jul 2024430 Days
8 Shorncliffe Avenue, Norwich, Norfolk, NR3 2HR£130,000£130,000£0024 Jan 202412 Jul 2024170 Days
35 Eade Road, Norwich, Norfolk, NR3 3EH£250,000£247,000-£3,00008 Mar 202405 Jul 2024119 Days
12 Lorraine Gardens, Norwich, Norfolk, NR3 4DH£230,000£227,500-£2,50001 Mar 202401 Jul 2024122 Days
23 Bassingham Road, Norwich, Norfolk, NR3 2QT£230,000£222,000-£8,00027 Mar 202401 Jul 202496 Days
5 Rocelin Close, Norwich, Norfolk, NR3 4DQ£325,000£315,000-£10,00010 Jan 202428 Jun 2024170 Days
120 Bowers Avenue, Norwich, Norfolk, NR3 2PS£110,000£106,500-£3,50018 Jan 202421 Jun 2024155 Days

Most Expensive Streets in NR3 (Norwich)

PostcodeStreetAreaAverageNo. of Sales
NR3 4BTConstitution HillNorwich£580,9063
NR3 4DESt Clements HillNorwich£561,7857
NR3 3AXThe MooringsNorwich£517,3005
NR3 3QYDyers YardNorwich£486,6663
NR3 4DBMarionville RoadNorwich£483,8333
NR3 1GSOld Millers WharfNorwich£483,7504
NR3 4BYSt Clements HillNorwich£474,1666
NR3 1HGElm HillNorwich£470,8336
NR3 1TRSt James MeadowNorwich£443,7504
NR3 3FABucks YardNorwich£440,0003

Least Expensive Streets in NR3 (Norwich)

PostcodeStreetAreaAverageNo. of Sales
NR3 1JPNorris CourtNorwich£66,2005
NR3 3TNThe GroveNorwich£87,2504
NR3 4ALTaylors Court, Magdalen RoadNorwich£100,1663
NR3 2NFBignold RoadNorwich£110,0003
NR3 3JRSleaford GreenNorwich£111,3333
NR3 2SSBaxter CourtNorwich£117,05314
NR3 1PNHeathgateNorwich£118,0005
NR3 1AYMandells CourtNorwich£119,1727
NR3 1PQHeathgateNorwich£121,8128
NR3 3UFWhite House CourtNorwich£122,84613

Explore NR3 (Norwich) using map

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