According to the public record, 83, Springbank, Norwich is a mid-century leasehold apartment with 753 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
Springbank, Norwich, NR1 is located in the borough of Norwich within the NR1 postal district.
83, Springbank, Norwich has a single entry in the Land Registry database from August 2022 and a single entry in the EPC database dated September 2020.
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 83 Springbank Norwich as £132,101 and the rental value as £796 per month giving an expected gross yield of 7.2%.
Over the last 12 months the sale value of 83 Springbank Norwich has increased by £2,749 (2.1%) and its rental value has increased by £21 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 83, Springbank, Norwich is in very good condition we estimate a sale value of £138,706 and rental value of £836 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £122,854 and a rental value of £740 per month.
If you were able to purchase this property for the estimated value of £132,101, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £649 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, 83, Springbank, Norwich was last sold on 26 Aug 2022 for £140,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Aug 2022, the market for similar properties has dropped 3.9%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 83, Springbank, Norwich within a radius of 540 metres over the last 2 years.
The most recent example is 57, Springbank, Norwich, NR1 2LH, a Leasehold flat which sold for £132,500 in Apr 2022.
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, 83, Springbank, Norwich is the 36th largest and the 36th most expensive property on the street.
When compared to the postcode district it is £89k less expensive than the average property in NR1.
83, Springbank, Norwich has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 30 Sep 2020.
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 83, 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 83, 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 83, 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 83, 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 83, 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 83, 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.