HOMELEA, NORWICH ROAD, MULBARTON, NORWICH, NR14 8JR - £415,000

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.

HOMELEA is a very small extended detached house of 78m², built sometime before 1900, which could now be worth an estimated £489,357. It was last sold for £415,000 in February 2021, which was around 11% above the average February 2021 detached price in the South Norfolk local authority area. The most recent EPC inspection was April 2016, where the current energy rating was D, and the potential energy rating was B.

HOMELEA Sold Prices

Land registry data shows three sales for HOMELEA 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. One of the three HOMELEA sales was for above the average price, whilst two 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 24 FEB	£415,000	£373,223	11% above HPI
2016 5 AUG	£230,000	£316,401	27% below HPI
2003 19 DEC	£192,500	£205,226	6% below HPI

HOMELEA 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 HOMELEA sales between December 2003 and February 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 August 2016 sale was for 27% below the HPI. So the extrapolation line tracks at 27% below the HPI over time, until the February 2021 sale, where it rises to 11% above the HPI. The line then continues to track at 11% above the HPI.

What might HOMELEA be worth now?

HOMELEA might now be worth an estimated £489,357.

This is based on house price inflation of 17.9%, between February 2021 and February 2025, for detached houses, in the South Norfolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 17.9% inflationary increase is applied to the most recent sale price for HOMELEA of £415,000 on 24th February 2021. For the value to have increased from £415,000 to £489,357 over the four years to February 2025, the following assumptions must hold true:

• The value of HOMELEA has moved in line with the HPI for detached houses in the South Norfolk local authority area.
• The February 2021 sale price of £415,000 represented a fair market value for the property.
• The size, condition, and specification of HOMELEA has not materially changed since February 2021.

How Large is HOMELEA?

HOMELEA is 78m², which includes one extension, according to the EPC inspection conducted in April 2016. This puts it in the smallest 20% of detached houses houses in Mulbarton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Mulbarton, and where HOMELEA lies on this distribution: 14% of detached houses houses are smaller than HOMELEA, and 85% of houses are larger. Note that EPC data is not available for all properties in Mulbarton.

HOMELEA: Plot and Title Map

HOMELEA sits on a plot of roughly 0.106 of an acre, or 430m². The below map shows the location of HOMELEA, 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 HOMELEA). 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 HOMELEA?

HOMELEA is located on NORWICH ROAD in MULBARTON, in the NR14 postcode district. The below map shows the position of HOMELEA on NORWICH ROAD.