3, MERLIN CLOSE, HOVETON, NORWICH, NR12 8DW - £295,000

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.

3 MERLIN CLOSE is a small detached house of 92m², built sometime between 1967 and 1975, which could now be worth an estimated £405,510. It was last sold for £295,000 in October 2016, which was around 6% below the average October 2016 detached price in the North Norfolk local authority area. The most recent EPC inspection was November 2016, where the current energy rating was D, and the potential energy rating was B.

3 MERLIN CLOSE Sold Prices

Land registry data shows four sales for 3 MERLIN CLOSE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the North Norfolk local authority area for the corresponding sale date. Most of the four 3 MERLIN CLOSE 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
2016 18 OCT	£295,000	£313,410	6% below HPI
2012 2 MAR	£217,500	£237,654	8% below HPI
1999 9 JUL	£89,000	£85,583	4% above HPI
1996 23 FEB	£63,000	£65,366	4% below HPI

3 MERLIN CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the North Norfolk local authority area over time, sourced from the HPI. The four 3 MERLIN CLOSE sales between February 1996 and October 2016 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 2012 sale was for 8% below the HPI. So the extrapolation line tracks at 8% below the HPI over time, until the October 2016 sale, where it rises to 6% below the HPI. The line then continues to track at 6% below the HPI.

What might 3 MERLIN CLOSE be worth now?

3 MERLIN CLOSE might now be worth an estimated £405,510.

This is based on house price inflation of 37.5%, between October 2016 and February 2025, for detached houses, in the North Norfolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 37.5% inflationary increase is applied to the most recent sale price for 3 MERLIN CLOSE of £295,000 on 18th October 2016. For the value to have increased from £295,000 to £405,510 over the nine years and eight months to February 2025, the following assumptions must hold true:

• The value of 3 MERLIN CLOSE has moved in line with the HPI for detached houses in the North Norfolk local authority area.
• The October 2016 sale price of £295,000 represented a fair market value for the property.
• The size, condition, and specification of 3 MERLIN CLOSE has not materially changed since October 2016.

How Large is 3 MERLIN CLOSE?

3 MERLIN CLOSE is 92m² according to the EPC inspection conducted in November 2016. This puts it in the smallest 40% of detached houses houses in Hoveton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Hoveton, and where 3 MERLIN CLOSE lies on this distribution: 37% of detached houses houses are smaller than 3 MERLIN CLOSE, and 63% of houses are larger. Note that EPC data is not available for all properties in Hoveton.

3 MERLIN CLOSE: Plot and Title Map

3 MERLIN CLOSE sits on a plot of roughly 0.112 of an acre, or 452m². The below map shows the location of 3 MERLIN CLOSE, 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 3 MERLIN CLOSE). 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 3 MERLIN CLOSE?

3 MERLIN CLOSE is located in HOVETON, in the NR12 postcode district. The below map shows the position of No. 3 on MERLIN CLOSE.