Norwich Annual Housing Market Index
Highlights:
· The average price of a home in Norwich is currently £176,931
· Average house prices in Norwich increased 7.8% between 2005 and 2006
· Terraced homes were the most popular properties in Norwich in 2006, making up 36.9% of sales
· The most expensive property was sold for £1,775,000 on Castle Street in central Norwich
· In spite of several new apartment schemes in the town centre, a preference for larger, more traditional style of housing has kept sales high for semi-detached and terraced homes
House Prices & House Sales:
There was a strong positive growth in the Norwich housing market in 2006, with the total number of property sales increasing by 18.6% after having remained relatively static over previous years. The average sale price also increased significantly on the previous year, with the most expensive property for the city reaching a healthy £1,775,000
Summary
In 2006, terraced homes experienced the biggest price growth in Norwich, with a 10.7% increase on 2005. In keeping with previous years, terraced homes also made up the highest percentage of sales, although a number of new developments in and around the town centre boosted the number of apartment sales in 2006.
· The most expensive home in Norwich in 2006 was a terraced house on Castle Street, just outside the town centre which sold for £1,775,000
· All of the top five most expensive streets are in the NR2 and NR4 postcodes, with NR2 commanding the highest prices in Norwich
· The least expensive property sold in Norwich in 2006 was a semi-detached home on Parana Road in the Sprowsten area of town, costing £34,000
· 2006 figures show prices start at around £150,000 for new apartments in the town centre
Download the pdf document to view detailed illustrations of the Norwich housing market.
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