7, SPENCER DRIVE, LOWESTOFT, NR32 4LS - £283,000

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.

7 SPENCER DRIVE is a midsized detached house of 95m², built sometime between 1967 and 1975, which could now be worth an estimated £316,276. It was last sold for £283,000 in July 2021, which was around 24% below the average July 2021 detached price in the East Suffolk local authority area. The most recent EPC inspection was May 2016, where the current energy rating was D, and the potential energy rating was B.

7 SPENCER DRIVE Sold Prices

Land registry data shows three sales for 7 SPENCER DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Suffolk local authority area for the corresponding sale date. All of the three 7 SPENCER DRIVE sales 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 12 JUL	£283,000	£372,981	24% below HPI
2001 14 SEP	£98,500	£139,873	30% below HPI
1997 1 JUL	£30,000	£82,844	64% below HPI

7 SPENCER DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Suffolk local authority area over time, sourced from the HPI. The three 7 SPENCER DRIVE sales between July 1997 and July 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 September 2001 sale was for 30% below the HPI. So the extrapolation line tracks at 30% below the HPI over time, until the July 2021 sale, where it rises to 24% below the HPI. The line then continues to track at 24% below the HPI.

What might 7 SPENCER DRIVE be worth now?

7 SPENCER DRIVE might now be worth an estimated £316,276.

This is based on house price inflation of 11.8%, between July 2021 and June 2025, for detached houses, in the East Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 11.8% inflationary increase is applied to the most recent sale price for 7 SPENCER DRIVE of £283,000 on 12th July 2021. For the value to have increased from £283,000 to £316,276 over the four years and one month to June 2025, the following assumptions must hold true:

• The value of 7 SPENCER DRIVE has moved in line with the HPI for detached houses in the East Suffolk local authority area.
• The July 2021 sale price of £283,000 represented a fair market value for the property.
• The size, condition, and specification of 7 SPENCER DRIVE has not materially changed since July 2021.

How Large is 7 SPENCER DRIVE?

7 SPENCER DRIVE is 95m² according to the EPC inspection conducted in May 2016. This puts it in the smallest 50% of detached houses houses in Lowestoft, based on EPC data. The below chart shows the distribution of detached houses houses by size in Lowestoft, and where 7 SPENCER DRIVE lies on this distribution: 48% of detached houses houses are smaller than 7 SPENCER DRIVE, and 51% of houses are larger. Note that EPC data is not available for all properties in Lowestoft.

7 SPENCER DRIVE: Plot and Title Map

7 SPENCER DRIVE sits on a plot of roughly 0.082 of an acre, or 330m². The below map shows the location of 7 SPENCER DRIVE, 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 7 SPENCER DRIVE). 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 7 SPENCER DRIVE?

7 SPENCER DRIVE is located in LOWESTOFT, in the NR32 postcode district. The below map shows the position of No. 7 on SPENCER DRIVE.