Do you live in the NR31, NR1 or NR32 postcode areas?
PUBLISHED: 15:42 06 November 2018 | UPDATED: 15:42 06 November 2018
The NR31 postcode area - covering locations like Yarmouth, Gorleston and Bradwell continues to be where the most homes sold in the whole of Norfolk and Suffolk over the past few months, according to a new report.
Based on postcodes, 432 homes sold in NR31 since February with 42 sold in the last three months, making it the eighth top area in 20 out of all 239 postcodes covering the east of England which includes Norfolk, Suffolk, Cambridgeshire, Bedfordshire and Hertfordshire.
However, the number of transactions are 10 per cent down in NR31 compared to last year and prices achieved slightly lower, at 0.3 per cent down on 2017, with the average price being £164,192, states the report.
The NR1 postcode, covering the centre of Norwich and Trowse, is still performing less favourably, pinpointed as a ‘notable faller’ where prices were 4.8 per cent lower than this time a year ago. However, prices achieved were higher last month than between February-July, the date of the last report. This resulted in the average house price increasing to £191,828 from £187,541.
The NR32 postcode area covering areas like Lowestoft and Oulton Broad also has seen a notable decrease in the average prices achieved since this time last year - the average house price is now £162,683, 3.6 per cent lower than in 2017.
The report is based on a rigorous analysis of just under a million housing transactions recorded by the Land Registry. Only 53 per cent of postcodes analysed in England and Wales have seen a price rises and 81 per cent have seen an annual fall in sales.
For more information you can see the full report at www.propdex.co.uk