The need to enter the market with an appropriate price is crucial and we can keep you fully informed of Norwich property prices as of February 2020. The property market moves fast, but as a local firm, we ensure you remain up to date with the market.
According to Rightmove, the overall average price of property in Norwich over the past year is £243,488. The company says property prices in Norwich are relatively comparable with nearby Hellesdon and Sprowston but more expensive than Old Catton.
Rightmove suggest the most popular property type for transactions in the past year is terraced properties with an average sales price of £224,171. Semi-detached properties had an average sales price of £241,703 while detached properties carry an average sales price of £339,460.
Zoopla list the average price paid for property in Norwich in the past 12 months as £267,852. This is higher than the price stated by Rightmove but it is not uncommon for discrepancies to arise between these leading online property portals.
For property types, Zoopla state the average price of flats as £151,674, the average price of terraced properties as £219,386 and the average price of semi-detached properties in Norwich as £239,916. The average sales price of detached property in Norwich, according to Zoopla, is £346,260. It is also interesting to note according to Zoopla figures, detached properties were the most commonly sold property in Norwich in the past 12 months.
While average prices are important and a great way to start a search or comparison, if you plan on making a move, you need detailed information. If you plan on selling your property, average prices are often misleading. If your home is of a higher standard than the average property in your area, using the average price as a benchmark can see you lose out.
If your home isn’t of the same standard as the average property, using the average property as a benchmark may see you struggling to attract buyers to your listing.
As local property market specialists, we know the external factors that influence demand and prices. We also the condition of homes in the local area. Whatever move you intend to make in the property market, we can help you make an informed decision.
If you plan on selling your home in Norwich in 2020, we can help. Contact us to arrange a property valuation and we are on hand to take you from start to end of the sales process. We are pleased to say we have assisted many Norwich vendors in selling their home, and if you are looking to make a move this year, contact Stobart & Hurrell today.