7, NORMAN WAY, COLCHESTER, CO3 4PS - £275,000

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.

7 NORMAN WAY is a very small detached house of 61m², built sometime between 1950 and 1966, which could now be worth an estimated £315,185. It was last sold for £275,000 in November 2018, which was around 37% below the average November 2018 detached price in the Colchester local authority area. The most recent EPC inspection was November 2017, where the current energy rating was F, and the potential energy rating was D.

7 NORMAN WAY Sold Prices

Land registry data shows two sales for 7 NORMAN WAY since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Colchester local authority area for the corresponding sale date. Both of the two 7 NORMAN 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
2018 19 NOV	£275,000	£438,208	37% below HPI
1997 19 DEC	£68,000	£100,986	33% below HPI

7 NORMAN WAY Price Paid vs. HPI Average

The below graph shows the average detached house price in the Colchester local authority area over time, sourced from the HPI. The two 7 NORMAN WAY sales from December 1997 and November 2018 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 December 1997 sale was for 33% below the HPI. So the extrapolation line tracks at 33% below the HPI over time, until the November 2018 sale, where it falls to 37% below the HPI. The line then continues to track at 37% below the HPI.

What might 7 NORMAN WAY be worth now?

7 NORMAN WAY might now be worth an estimated £315,185.

This is based on house price inflation of 14.6%, between November 2018 and February 2025, for detached houses, in the Colchester local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 14.6% inflationary increase is applied to the most recent sale price for 7 NORMAN WAY of £275,000 on 19th November 2018. For the value to have increased from £275,000 to £315,185 over the seven years and nine months to February 2025, the following assumptions must hold true:

• The value of 7 NORMAN WAY has moved in line with the HPI for detached houses in the Colchester local authority area.
• The November 2018 sale price of £275,000 represented a fair market value for the property.
• The size, condition, and specification of 7 NORMAN WAY has not materially changed since November 2018.

How Large is 7 NORMAN WAY?

7 NORMAN WAY is 61m² according to the EPC inspection conducted in November 2017. This puts it in the smallest 10% of detached houses houses in Colchester, based on EPC data. The below chart shows the distribution of detached houses houses by size in Colchester, and where 7 NORMAN WAY lies on this distribution: 3% of detached houses houses are smaller than 7 NORMAN WAY, and 97% of houses are larger. Note that EPC data is not available for all properties in Colchester.

7 NORMAN WAY: Plot and Title Map

7 NORMAN WAY sits on a plot of roughly 0.081 of an acre, or 327m². The below map shows the location of 7 NORMAN 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 7 NORMAN 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 7 NORMAN WAY?

7 NORMAN WAY is located in COLCHESTER, in the CO3 postcode district. The below map shows the position of No. 7 on NORMAN WAY.