According to the public record, 1, Springbank, Norwich is a mid-century leasehold apartment with 376 ft2 of internal area.
Apartments of this size in this area normally have 1 bedroom.
Springbank, Norwich, NR1 is located in the borough of Norwich within the NR1 postal district.
1, Springbank, Norwich has 2 entries in the Land Registry database, most recently in October 2018 and a single entry in the EPC database dated May 2017.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 1 Springbank Norwich as £94,574 and the rental value as £660 per month giving an expected gross yield of 8.4%.
Over the last 12 months the sale value of 1 Springbank Norwich has increased by £1,968 (2.1%) and its rental value has increased by £18 per month (2.7%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 1, Springbank, Norwich is in very good condition we estimate a sale value of £99,303 and rental value of £694 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £87,954 and a rental value of £614 per month.
If you were able to purchase this property for the estimated value of £94,574, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £465 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 1, Springbank, Norwich was last sold on 19 Oct 2018 for £100,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Oct 2018, the market for similar properties has risen 8.1%
According to the Land Registry and our network of Estate Agents, there have been 1 sale of a property similar to 1, Springbank, Norwich within a radius of 550 metres over the last 2 years.
The most recent example is 5, Springbank, Norwich, NR1 2LH, a Leasehold flat which sold for £103,000 in Sep 2019.
Read more about house prices in NR1.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Springbank, Norwich, NR1 has a total of 118 addresses. According to our analysis of all the public data, 1, Springbank, Norwich is the 109th largest and the 108th most expensive property on the street.
When compared to the postcode district it is £127k less expensive than the average property in NR1.
1, Springbank, Norwich has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 09 May 2017.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 1, Springbank, Norwich is Norwich station which is 1.8 kilometres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around 1, Springbank, Norwich, 55.8% of property is socially rented and 17.0% is privately owned with a mortgage.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 1, Springbank, Norwich, 24.8% of residents are recorded as possessing school level qualifications and 24.0% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 1, Springbank, Norwich, the average age was 39.1 and the most common age was 32.
The graph below shows how this compares to East of England and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 1, Springbank, Norwich, 0.6% of property was a second home.
Comparison figures for East of England and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 1, Springbank, Norwich, there are an average of 0.7 cars per household.
See below for how this compares to East of England and the rest of England & Wales.