7, SPENCER DRIVE, LOWESTOFT, NR32 4LS - £283,000

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

7 SPENCER DRIVE is a midsized detached house of 95m², built sometime between 1967 and 1975. It was last sold for £283,000 in July 2021, which was around 24% below the average July 2021 detached price in the East Suffolk local authority area. The most recent EPC inspection was May 2016, where the current energy rating was D, and the potential energy rating was B.

7 SPENCER DRIVE Sold Prices

Land registry data shows three sales for 7 SPENCER DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Suffolk local authority area for the corresponding sale date. All of the three 7 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
2021 12 JUL	£283,000	£372,923	24% below HPI
2001 14 SEP	£98,500	£139,852	30% below HPI
1997 1 JUL	£30,000	£82,831	64% below HPI

7 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 three 7 SPENCER DRIVE sales between July 1997 and July 2021 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 September 2001 sale was for 30% below the HPI. So the extrapolation line tracks at 30% below the HPI over time, until the July 2021 sale, where it rises to 24% below the HPI. The line then continues to track at 24% below the HPI.

How Large is 7 SPENCER DRIVE?

7 SPENCER DRIVE is 95m² according to the EPC inspection conducted in May 2016. This puts it in the smallest 50% of detached houses in Lowestoft, based on EPC data. The below chart shows the distribution of detached houses by size in Lowestoft, and where 7 SPENCER DRIVE lies on this distribution: 48% of detached houses are smaller than 7 SPENCER DRIVE, and 51% of houses are larger. Note that EPC data is not available for all properties in Lowestoft.

7 SPENCER DRIVE: Plot and Title Map

7 SPENCER DRIVE sits on a plot of roughly 0.082 of an acre, or 330m². The below map shows the location of 7 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 7 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 7 SPENCER DRIVE?

7 SPENCER DRIVE is located in LOWESTOFT, in the NR32 postcode district. The below map shows the position of No. 7 on SPENCER DRIVE.