KARMA, FOLGATE LANE, COSTESSEY, NORWICH, NR8 5DP - £410,000

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.

KARMA is a midsized extended detached house of 143m², built sometime between 1950 and 1966, which could now be worth an estimated £512,730. It was last sold for £410,000 in November 2018, which was around 17% above the average November 2018 detached price in the South Norfolk local authority area. The most recent EPC inspection was June 2018, where the current energy rating was E, and the potential energy rating was C.

KARMA Sold Prices

Land registry data shows two sales for KARMA since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the South Norfolk local authority area for the corresponding sale date. Both of the two KARMA sales were for above 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	£410,000	£351,918	17% above HPI
2006 24 APR	£285,000	£233,878	22% above HPI

KARMA 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 two KARMA sales from April 2006 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 April 2006 sale was for 22% above the HPI. So the extrapolation line tracks at 22% above the HPI over time, until the November 2018 sale, where it falls to 17% above the HPI. The line then continues to track at 17% above the HPI.

What might KARMA be worth now?

KARMA might now be worth an estimated £512,730.

This is based on house price inflation of 25.1%, between November 2018 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 25.1% inflationary increase is applied to the most recent sale price for KARMA of £410,000 on 19th November 2018. For the value to have increased from £410,000 to £512,730 over the seven years and nine months to February 2025, the following assumptions must hold true:

• The value of KARMA has moved in line with the HPI for detached houses in the South Norfolk local authority area.
• The November 2018 sale price of £410,000 represented a fair market value for the property.
• The size, condition, and specification of KARMA has not materially changed since November 2018.

How Large is KARMA?

KARMA is 143m², which includes one extension, according to the EPC inspection conducted in June 2018. This puts it in the largest 50% of detached houses houses in Costessey, based on EPC data. The below chart shows the distribution of detached houses houses by size in Costessey, and where KARMA lies on this distribution: 60% of detached houses houses are smaller than KARMA, and 40% of houses are larger. Note that EPC data is not available for all properties in Costessey.

KARMA: Plot and Title Map

KARMA sits on a plot of roughly 0.540 of an acre, or 2,185m². The below map shows the location of KARMA, 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 KARMA). 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 KARMA?

KARMA is located on FOLGATE LANE in COSTESSEY, in the NR8 postcode district. The below map shows the position of KARMA on FOLGATE LANE.