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House Prices in NR3 House Prices in NR3 (Norwich)

The average house price in NR3 (Norwich) is £208,961 using HM Land Registry data.

The average property price increased by £49,796 (24.8%) over the last 5 years and increased by £9,955 (3.77%) over the last 12 months.

Over the last year, there were 365 residential property sales – a decrease of 190 transactions (-52.05%) relative to the previous year. The majority of house sales (104) were in the £202,000 - £238,000 range. Then came properties in the £130,000 - £166,000 range, where 63 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 June 2024, there were 76 new estate agency instructions, 60 agreed home sales and 49 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) - June 2024

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
507 Sprowston Road, Norwich, Norfolk, NR3 4EU£150,000£145,000-£5,00009 Feb 202417 May 202498 Days
9 Drayton Road, Norwich, Norfolk, NR3 2DF£300,000£300,000£0020 Oct 202303 May 2024196 Days
126 Mile Cross Road, Norwich, Norfolk, NR3 2LD£180,000£170,000-£10,00003 Aug 202318 Apr 2024259 Days
200 Sprowston Road, Norwich, Norfolk, NR3 4JA£195,000£195,000£0016 Aug 202308 Apr 2024236 Days
7a, Press Lane, Norwich, Norfolk, NR3 2JY£230,000£222,500-£7,50027 Oct 202326 Mar 2024151 Days
5a, Bakers Road, Norwich, Norfolk, NR3 3AZ£130,000£130,000£0022 Jan 202425 Mar 202463 Days
30 Eade Road, Norwich, Norfolk, NR3 3EJ£210,000£140,000-£70,00017 Aug 202101 Mar 2024927 Days
50 Violet Road, Norwich, Norfolk, NR3 4TR£210,000£200,000-£10,00011 Dec 202301 Mar 202481 Days
146 Templemere, Norwich, Norfolk, NR3 4EQ£165,000£160,000-£5,00007 Sep 202326 Feb 2024172 Days
1 Half Mile Close, Norwich, Norfolk, NR3 2LW£210,000£205,000-£5,00028 Aug 202323 Feb 2024179 Days
13 Lilburne Avenue, Norwich, Norfolk, NR3 3NZ£220,000£215,000-£5,00020 Nov 202305 Feb 202477 Days
88 Heathgate, Norwich, Norfolk, NR3 1PN£140,000£125,000-£15,00007 Jun 202331 Jan 2024238 Days
28 Barrack Street, Norwich, Norfolk, NR3 1TQ£140,000£130,000-£10,00003 May 202329 Jan 2024271 Days
20 Suckling Avenue, Norwich, Norfolk, NR3 2SY£240,000£237,500-£2,50008 Jun 202318 Jan 2024224 Days
272 Gertrude Road, Norwich, Norfolk, NR3 4RY£230,000£220,000-£10,00016 Aug 202317 Jan 2024154 Days
2 St James Meadow, Norwich, Norfolk, NR3 1TR£475,000£475,000£0004 Sep 202317 Jan 2024135 Days
68 Silver Street, Norwich, Norfolk, NR3 4TU£210,000£210,000£0001 Nov 202312 Jan 202472 Days
23 Blakes Court, Norwich, Norfolk, NR3 4DS£235,000£230,000-£5,00019 Aug 202312 Jan 2024146 Days
91 Valpy Avenue, Norwich, Norfolk, NR3 2EZ£200,000£185,000-£15,00007 Sep 202311 Jan 2024126 Days
47 Sprowston Road, Norwich, Norfolk, NR3 4QJ£200,000£200,000£0021 Feb 202308 Jan 2024321 Days

Most Expensive Streets in NR3 (Norwich)

PostcodeStreetAreaAverageNo. of Sales
NR3 4DESt Clements HillNorwich£580,4166
NR3 4BTConstitution HillNorwich£558,1804
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 1TRSt James MeadowNorwich£443,7504
NR3 4HAConstitution HillNorwich£443,3333
NR3 1HGElm HillNorwich£441,0005

Least Expensive Streets in NR3 (Norwich)

PostcodeStreetAreaAverageNo. of Sales
NR3 1JPNorris CourtNorwich£66,2005
NR3 4ALTaylors Court, Magdalen RoadNorwich£100,1663
NR3 2PRBowers AvenueNorwich£107,5003
NR3 2JFBerners StreetNorwich£109,5005
NR3 3JRSleaford GreenNorwich£111,3333
NR3 1AYMandells CourtNorwich£113,6909
NR3 2SSBaxter CourtNorwich£115,65015
NR3 1PNHeathgateNorwich£118,0005
NR3 2PJBowers AvenueNorwich£122,2504
NR3 3UFWhite House CourtNorwich£122,84613

Explore NR3 (Norwich) using map

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