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House Prices in NR23

The average house price in NR23 (Wells-Next-The-Sea) is £506,666 using HM Land Registry data.

The average property price decreased by £12,462 (-30.96%) over the last 5 years and decreased by £2,491 (-4.52%) over the last 12 months.

Over the last year, there were 39 residential property sales – an increase of 2 transactions (5.13%) relative to the previous year. The majority of house sales (11) were in the £386,000 - £482,000 range. Then came properties in the £290,000 - £386,000 range, where 9 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 37 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-20,000 (-4%).

In June 2024, there were 13 new estate agency instructions, 7 agreed home sales and 5 property price reductions.

5-Year Average Property Prices in NR23 (Wells-Next-The-Sea)

30.96%

Property prices in Wells-Next-The-Sea increased by 30.96% 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 NR23 (Wells-Next-The-Sea) Over the Last Year

4.52%

Property prices in Wells-Next-The-Sea increased by 4.52% 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.

Property Market Heat Gauge for NR23 (Wells-Next-The-Sea) - 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 21 to 40 days, the broad evidence suggests that properties are selling reasonably quickly after being initially advertised and the market is reasonably healthy. If you are prepared to wait to up to 6 weeks, and you are sure that your property is priced realistically, you should get an offer within this timeframe.

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 NR23 (Wells-Next-The-Sea)

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 NR23 (Wells-Next-The-Sea)

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 NR23 (Wells-Next-The-Sea)

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 NR23 (Wells-Next-The-Sea) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the NR23 postcode area since 1995.

Recent Sales in NR23 (Wells-Next-The-Sea)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
61 Waveney Close, Wells-next-the-sea, Norfolk, NR23 1HU	£425,000	£425,000	£00	18 Dec 2023	28 Feb 2024	72 Days
4 Grove Road, Wells-next-the-sea, Norfolk, NR23 1HY	£475,000	£460,000	-£15,000	13 Sep 2023	20 Dec 2023	98 Days
14 Church Street, Wells-next-the-sea, Norfolk, NR23 1JA	£425,000	£425,000	£00	24 Aug 2023	20 Dec 2023	118 Days
11 The Glebe, Wells-next-the-sea, Norfolk, NR23 1AZ	£349,995	£340,000	-£9,995	15 May 2023	02 Nov 2023	171 Days
12 Mill Road, Wells-next-the-sea, Norfolk, NR23 1HB	£460,000	£450,000	-£10,000	25 Jul 2023	12 Oct 2023	79 Days
8 Mill Road, Wells-next-the-sea, Norfolk, NR23 1HA	£465,000	£448,000	-£17,000	02 Jun 2023	01 Sep 2023	91 Days
22 Chapel Yard, Wells-next-the-sea, Norfolk, NR23 1BJ	£499,950	£487,206	-£12,744	25 May 2023	31 Aug 2023	98 Days
30 Waveney Close, Wells-next-the-sea, Norfolk, NR23 1HT	£399,950	£382,500	-£17,450	10 Oct 2022	23 Aug 2023	317 Days
21 Newgate Lane, Wells-next-the-sea, Norfolk, NR23 1DT	£450,000	£440,000	-£10,000	28 Mar 2023	08 Aug 2023	133 Days
2a, Northfield Lane, Wells-next-the-sea, Norfolk, NR23 1JZ	£675,000	£665,000	-£10,000	05 Apr 2023	21 Jul 2023	107 Days
4 Theatre Road, Wells-next-the-sea, Norfolk, NR23 1DS	£525,000	£495,000	-£30,000	30 Nov 2022	14 Jul 2023	226 Days
38 Theatre Road, Wells-next-the-sea, Norfolk, NR23 1DJ	£475,000	£455,000	-£20,000	17 Feb 2023	30 May 2023	102 Days
15 Church Plain, Wells-next-the-sea, Norfolk, NR23 1EQ	£495,000	£475,000	-£20,000	12 Sep 2022	17 Feb 2023	158 Days
Lodge Barn, Bridge Street, Stiffkey, Wells-next-the-sea, Norfolk, NR23 1QP	£900,000	£790,000	-£110,000	28 Jul 2022	28 Nov 2022	123 Days
Springbank, 50a, Freeman Street, Wells-next-the-sea, Norfolk, NR23 1BA	£625,000	£615,000	-£10,000	27 Aug 2022	24 Nov 2022	89 Days
Algerine Cottage, Jolly Sailor Yard, Wells-next-the-sea, Norfolk, NR23 1LA	£695,000	£675,000	-£20,000	22 Feb 2022	14 Oct 2022	234 Days
Beresford House, Lugger Yard, Wells-next-the-sea, Norfolk, NR23 1BS	£650,000	£615,000	-£35,000	27 Jun 2022	04 Aug 2022	38 Days
14 Chapel Yard, Wells-next-the-sea, Norfolk, NR23 1BJ	£500,000	£495,000	-£5,000	02 Mar 2022	27 Jun 2022	117 Days
28 Westfield Avenue, Wells-next-the-sea, Norfolk, NR23 1BY	£245,000	£245,000	£00	20 Jan 2022	23 Mar 2022	62 Days
7 Gales Road, Wells-next-the-sea, Norfolk, NR23 1DL	£350,000	£332,000	-£18,000	15 Sep 2021	02 Mar 2022	168 Days

Most Expensive Streets in NR23 (Wells-Next-The-Sea)

Postcode	Street	Area	Average	No. of Sales
NR23 1LE	East End, Wells-next-the-sea	Wells-Next-The-Sea	£926,666	3
NR23 1QP	Bridge Street, Stiffkey	Wells-Next-The-Sea	£799,000	5
NR23 1PX	Home Piece Road, Wells-next-the-sea	Wells-Next-The-Sea	£699,374	4
NR23 1JT	The Granary, The Quay	Wells-Next-The-Sea	£656,666	3
NR23 1BE	Dogger Lane, Wells-next-the-sea	Wells-Next-The-Sea	£655,333	3
NR23 1AJ	Wells Road, Stiffkey	Wells-Next-The-Sea	£651,111	9
NR23 1EP	High Street, Wells-next-the-sea	Wells-Next-The-Sea	£636,666	3
NR23 1HQ	Two Furlong Hill, Wells-next-the-sea	Wells-Next-The-Sea	£602,166	3
NR23 1DB	Mill Road, Wells-next-the-sea	Wells-Next-The-Sea	£586,666	3
NR23 1LA	Jolly Sailor Yard, Wells-next-the-sea	Wells-Next-The-Sea	£585,277	4

Least Expensive Streets in NR23 (Wells-Next-The-Sea)

Postcode	Street	Area	Average	No. of Sales
NR23 1BY	Westfield Avenue, Wells-next-the-sea	Wells-Next-The-Sea	£224,166	3
NR23 1DF	Tunns Yard, Wells-next-the-sea	Wells-Next-The-Sea	£227,966	3
NR23 1LQ	Northfield Lane, Wells-next-the-sea	Wells-Next-The-Sea	£264,000	5
NR23 1LJ	Northfield Waye, Wells-next-the-sea	Wells-Next-The-Sea	£274,535	7
NR23 1QL	Camping Hill, Stiffkey	Wells-Next-The-Sea	£287,400	5
NR23 1HT	Waveney Close, Wells-next-the-sea	Wells-Next-The-Sea	£363,333	3
NR23 1HU	Waveney Close, Wells-next-the-sea	Wells-Next-The-Sea	£364,166	6
NR23 1DS	Theatre Road, Wells-next-the-sea	Wells-Next-The-Sea	£368,333	3
NR23 1QG	Ashburton Close, Wells-next-the-sea	Wells-Next-The-Sea	£376,647	19
NR23 1AZ	The Glebe, Wells-next-the-sea	Wells-Next-The-Sea	£424,375	4