1, SPENCER DRIVE, LOWESTOFT, NR32 4LS - £325,000

The information on this page is based on a number of underlying datasets, most of which are updated monthly. We maintain an update schedule which explains which version of each dataset we are currently relying on.

1 SPENCER DRIVE is a small detached house of 78m², built sometime between 1967 and 1975, which could now be worth an estimated £330,509. It was last sold for £325,000 in May 2023, which was around 22% below the average May 2023 detached price in the East Suffolk local authority area. The most recent EPC inspection was February 2022, where the current energy rating was E, and the potential energy rating was B.

1 SPENCER DRIVE Sold Prices

Land registry data shows two sales for 1 SPENCER DRIVE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the East Suffolk local authority area for the corresponding sale date. Both of the two 1 SPENCER DRIVE sales were for below the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2023 10 MAY	£325,000	£415,995	22% below HPI
2022 23 MAR	£219,000	£411,700	47% below HPI

1 SPENCER DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Suffolk local authority area over time, sourced from the HPI. The two 1 SPENCER DRIVE sales from March 2022 and May 2023 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the March 2022 sale was for 47% below the HPI. So the extrapolation line tracks at 47% below the HPI over time, until the May 2023 sale, where it rises to 22% below the HPI. The line then continues to track at 22% below the HPI.

What might 1 SPENCER DRIVE be worth now?

1 SPENCER DRIVE might now be worth an estimated £330,509.

This is based on house price inflation of 1.7%, between May 2023 and February 2025, for detached houses, in the East Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 1.7% inflationary increase is applied to the most recent sale price for 1 SPENCER DRIVE of £325,000 on 10th May 2023. For the value to have increased from £325,000 to £330,509 over the two years and three months to February 2025, the following assumptions must hold true:

• The value of 1 SPENCER DRIVE has moved in line with the HPI for detached houses in the East Suffolk local authority area.
• The May 2023 sale price of £325,000 represented a fair market value for the property.
• The size, condition, and specification of 1 SPENCER DRIVE has not materially changed since May 2023.

How Large is 1 SPENCER DRIVE?

1 SPENCER DRIVE is 78m² according to the EPC inspection conducted in February 2022. This puts it in the smallest 30% of detached houses houses in Lowestoft, based on EPC data. The below chart shows the distribution of detached houses houses by size in Lowestoft, and where 1 SPENCER DRIVE lies on this distribution: 28% of detached houses houses are smaller than 1 SPENCER DRIVE, and 71% of houses are larger. Note that EPC data is not available for all properties in Lowestoft.

1 SPENCER DRIVE: Plot and Title Map

1 SPENCER DRIVE sits on a plot of roughly 0.108 of an acre, or 436m². The below map shows the location of 1 SPENCER DRIVE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 1 SPENCER DRIVE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 1 SPENCER DRIVE?

1 SPENCER DRIVE is located in LOWESTOFT, in the NR32 postcode district. The below map shows the position of No. 1 on SPENCER DRIVE.