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House Prices in NR8

The average house price in NR8 (Norwich) is £240,750 using HM Land Registry data.

The average property price increased by £99,478 (15.12%) over the last 5 years and increased by £19,887 (2.46%) over the last 12 months.

Over the last year, there were 268 residential property sales – a decrease of 167 transactions (-62.31%) relative to the previous year. The majority of house sales (72) were in the £224,000 - £278,000 range. Then came properties in the £170,000 - £224,000 range, where 45 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 52 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-9,027 (-2%).

In June 2024, there were 55 new estate agency instructions, 52 agreed home sales and 40 property price reductions.

5-Year Average Property Prices in NR8 (Norwich)

15.12%

Property prices in Norwich increased by 15.12% 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 NR8 (Norwich) Over the Last Year

2.46%

Property prices in Norwich increased by 2.46% 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 NR8 (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 41 to 60 days, the broad evidence suggests that the market is reasonably slow moving. Although some sellers in your postcode may be willing to wait up to 9 weeks, this data would suggest that estate agents may be overvaluing properties. In such scenarios, some vendors may either choose to wait for the market to pick up (which may result in 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 NR8 (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 NR8 (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 NR8 (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 NR8 (Norwich) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the NR8 postcode area since 1995.

Recent Sales in NR8 (Norwich)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
5 Pond Lane, Drayton, Norwich, Norfolk, NR8 6PP	£260,000	£255,000	-£5,000	30 Jun 2023	03 May 2024	308 Days
36 Magnolia Way, Costessey, Norwich, Norfolk, NR8 5EH	£270,000	£265,000	-£5,000	25 Jul 2023	26 Apr 2024	276 Days
20 Mokyll Croft, Taverham, Norwich, Norfolk, NR8 6UG	£200,000	£195,000	-£5,000	06 Oct 2023	12 Apr 2024	189 Days
43 Maple Drive, Taverham, Norwich, Norfolk, NR8 6TF	£270,000	£260,000	-£10,000	27 Aug 2023	28 Mar 2024	214 Days
3 Peakwell Close, Taverham, Norwich, Norfolk, NR8 6GN	£395,000	£387,000	-£8,000	13 Dec 2023	21 Mar 2024	99 Days
11 St Simon Close, Costessey, Norwich, Norfolk, NR8 5ES	£210,000	£210,000	£00	23 May 2023	19 Mar 2024	301 Days
21 Tower Close, Costessey, Norwich, Norfolk, NR8 5AU	£150,000	£150,000	£00	12 Oct 2023	08 Mar 2024	148 Days
34 Radcliffe Road, Drayton, Norwich, Norfolk, NR8 6XZ	£220,000	£220,000	£00	15 Aug 2023	09 Feb 2024	178 Days
Clive House, Townhouse Road, Costessey, Norwich, Norfolk, NR8 5AA	£300,000	£300,000	£00	01 Oct 2023	26 Jan 2024	117 Days
11 The Seates, Taverham, Norwich, Norfolk, NR8 6UL	£175,000	£175,000	£00	19 Jul 2023	12 Jan 2024	177 Days
91 Fakenham Road, Taverham, Norwich, Norfolk, NR8 6QA	£550,000	£540,000	-£10,000	30 Mar 2023	05 Jan 2024	281 Days
46 Acres Way, Drayton, Norwich, Norfolk, NR8 6UT	£200,000	£200,000	£00	11 Jul 2023	05 Jan 2024	178 Days
49 Radcliffe Road, Drayton, Norwich, Norfolk, NR8 6XZ	£260,000	£255,000	-£5,000	24 Jul 2023	21 Dec 2023	150 Days
6 Ashgrove, Drayton, Norwich, Norfolk, NR8 6AY	£265,000	£253,500	-£11,500	29 Sep 2023	20 Dec 2023	82 Days
108 Old Warren, Taverham, Norwich, Norfolk, NR8 6GE	£275,000	£270,000	-£5,000	17 Aug 2023	15 Dec 2023	120 Days
10 Howell Road, Drayton, Norwich, Norfolk, NR8 6BU	£400,000	£378,500	-£21,500	27 May 2023	15 Dec 2023	202 Days
34 Broom Close, Taverham, Norwich, Norfolk, NR8 6FS	£375,000	£375,000	£00	18 Aug 2023	08 Dec 2023	112 Days
76 Kingswood Avenue, Taverham, Norwich, Norfolk, NR8 6UR	£400,000	£395,000	-£5,000	21 Jul 2023	01 Dec 2023	133 Days
48 Springfield Road, Taverham, Norwich, Norfolk, NR8 6QU	£375,000	£350,000	-£25,000	08 Aug 2023	30 Nov 2023	114 Days
30 George Drive, Drayton, Norwich, Norfolk, NR8 6DU	£350,000	£330,000	-£20,000	10 Jun 2023	30 Nov 2023	173 Days

Most Expensive Streets in NR8 (Norwich)

Postcode	Street	Area	Average	No. of Sales
NR8 6TB	Taverham Park Avenue, Taverham	Norwich	£970,000	6
NR8 6SY	Taverham Road, Taverham	Norwich	£740,000	3
NR8 6HT	Fir Covert Road, Taverham	Norwich	£718,333	3
NR8 6SB	Taverham Road, Taverham	Norwich	£679,000	5
NR8 6QF	Woodland Drive, Drayton	Norwich	£642,500	4
NR8 6FD	Firbanks Close, Drayton	Norwich	£638,750	4
NR8 6XD	Sylvan Way, Taverham	Norwich	£600,000	4
NR8 6SG	Taverham Road, Taverham	Norwich	£586,666	3
NR8 6QA	Fakenham Road, Taverham	Norwich	£582,000	5
NR8 6SE	Taverham Road, Taverham	Norwich	£566,277	9

Least Expensive Streets in NR8 (Norwich)

Postcode	Street	Area	Average	No. of Sales
NR8 5FG	Dunnock Court, Dunnock Drive	Norwich	£128,100	5
NR8 5AU	Tower Close, Costessey	Norwich	£131,666	3
NR8 5EP	Cheena Court, Solario Road	Norwich	£143,105	19
NR8 5FE	Woodpecker Court, Woodpecker Way	Norwich	£145,166	6
NR8 5GZ	Kestrel Avenue, Costessey	Norwich	£146,083	6
NR8 5FB	Robin Court, Robin Close	Norwich	£147,500	3
NR8 5AY	Tower Close, Costessey	Norwich	£148,937	8
NR8 5FN	Nightingale Mews, Costessey	Norwich	£150,800	5
NR8 6UL	The Seates, Taverham	Norwich	£152,000	5
NR8 6XF	Castle Rise, Taverham	Norwich	£163,833	9