Using data from the HM Land Register we can assess the Norwich house prices and volumes across property types. During the past year, the average price of properties in Norwich was £273,593. Norwich has seen an increase in its sold prices of 26.7% over the last year and 23.2% from the peak of £221,773 in 2017 according to Rightmove.
In Norwich, terraced properties sold most frequently for an average price of £251,271 during the past year.
House prices by house type in Norwich
The average price of semi-detached properties was £284,461.
A detached property has fetched £400,838 on the market over the course of the last 12 months.
We’ve broken these prices by house type out in the below graph:
If you are looking for the best estate agents in Norwich to value your flat, terraced, semi-detached or detached house then please click here.
Sales volumes by price range in Norwich
In Norwich there were very few properties selling below £50,000 between July 2021 and June 2022 with just 10 sales out of a total sales volume of 9,383.
Just 2.9% of sales were between £50,000 and £100,000.
Fun fact, only 0.5% of the properties on the market sold over £1,000,000 in Norwich over the past year.
Sales fell by 32% in the last 12 months from 13,000 property sales down to 9,383.
The price of a newly built property is £22k higher than an established property marking an 8% premium (note, this does not take property sold type into consideration).
Monthly featured property
Lets take a look at the present most expensive property on Rightmove:
Among the property’s amenities is a spacious communal lounge, kitchens, gym, cinema room, and two parking spaces. 26 en-suite bedrooms have been sympathetically converted.
Located in the most desirable and trendiest neighbourhoods of Norwich, this highly prominent co-living investment is fully let.
The property is located between the Norwich Golden Triangle and the University of East Anglia (UEA) making it a highly demanded property.
We here at homemove are interested to see how interest rates and inflation will impact the future of Norwich house prices. What do you think the future direction of the above graph will be? Let us know in the comments below.
Stay tuned for monthly updates on the house prices for Norwich in August 2022 and beyond!
