The average property price in the NR postcode area was £293,464 in the 12 months to September 2026, a 3.9pc drop compared to the previous year, according to Brickview’s latest report.
Postcodes in and around Norwich were also analysed for house prices for detached, semi-detached and terraced homes as well as flats.
The only postcode with an overall rise in property prices was NR3 with an average of £221,002 – a 1.3pc rise.
When asked about the data, David Hinton, partner at property consultancy Brown and Co, said: “While the wider data suggests a general softening in house prices across Norfolk, I think the Norwich picture is more nuanced, with individual postcode areas continuing to evolve.
“NR3 is a particularly interesting area.
“We have seen a noticeable rise in its popularity and I think this is reflected in the data.”
He pointed to the growth of independent pubs, restaurants, and cafes, alongside the redevelopment of Anglia Square, as key factors driving demand particularly with younger buyers.
Both NR1, where an average home costs £230,978, and NR2, also known as the Golden Triangle, with an average of £308,052, have had a drop in property prices of 4.8pc and 2.2pc respectively.
“NR2 remains without question one of Norwich’s most sought-after residential areas,” Mr Hinton added.
“NR1 has perhaps seen a slight softening, which is consistent with the figures.
“That said, it would be wrong to paint the whole postcode with the same brush.
“Ultimately, I think the Norwich market is increasingly being driven by the quality of individual homes and there is certainly a scarcity factor in this regard.”
