38, OLD MARKET WAY, HEMPNALL, NORWICH, NR15 2LZ - £220,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

38 OLD MARKET WAY is a very small extended semi-detached house of 72m², built sometime between 1950 and 1966. It was last sold for £220,000 in October 2023, which was around 46% below the average October 2023 detached price in the South Norfolk local authority area. The most recent EPC inspection was April 2023, where the current energy rating was E, and the potential energy rating was C.

38 OLD MARKET WAY Sold Prices

Land registry data shows three sales for 38 OLD MARKET WAY since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the South Norfolk local authority area for the corresponding sale date. All of the three 38 OLD MARKET WAY 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 25 OCT	£220,000	£404,244	46% below HPI
2012 4 MAY	£132,000	£229,208	42% below HPI
2003 12 DEC	£110,000	£198,990	45% below HPI

38 OLD MARKET WAY Price Paid vs. HPI Average

The below graph shows the average detached house price in the South Norfolk local authority area over time, sourced from the HPI. The three 38 OLD MARKET WAY sales between December 2003 and October 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 May 2012 sale was for 42% below the HPI. So the extrapolation line tracks at 42% below the HPI over time, until the October 2023 sale, where it falls to 46% below the HPI. The line then continues to track at 46% below the HPI.

How Large is 38 OLD MARKET WAY?

38 OLD MARKET WAY is 72m², which includes two extensions, according to the EPC inspection conducted in April 2023. This puts it in the smallest 20% of detached houses in Hempnall, based on EPC data. The below chart shows the distribution of detached houses by size in Hempnall, and where 38 OLD MARKET WAY lies on this distribution: 17% of detached houses are smaller than 38 OLD MARKET WAY, and 83% of houses are larger. Note that EPC data is not available for all properties in Hempnall.

38 OLD MARKET WAY: Plot and Title Map

38 OLD MARKET WAY sits on a plot of roughly 0.076 of an acre, or 308m². The below map shows the location of 38 OLD MARKET WAY, 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 38 OLD MARKET WAY). 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 38 OLD MARKET WAY?

38 OLD MARKET WAY is located in HEMPNALL, in the NR15 postcode district. The below map shows the position of No. 38 on OLD MARKET WAY.