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

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

HOMELEA is a very small extended detached house of 78m², built sometime before 1900. It was last sold for £415,000 in February 2021, which was around 15% 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	£361,883	15% above HPI
2016 5 AUG	£230,000	£306,787	25% below HPI
2003 19 DEC	£192,500	£198,990	3% 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 25% below the HPI. So the extrapolation line tracks at 25% below the HPI over time, until the February 2021 sale, where it rises to 15% above the HPI. The line then continues to track at 15% above the HPI.

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 in Mulbarton, based on EPC data. The below chart shows the distribution of detached houses by size in Mulbarton, and where HOMELEA lies on this distribution: 14% of detached 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.