Went by end of terrace, outdated (7)
I believe the answer is:
elapsed
'went by' is the definition.
('elapse' can be a synonym of 'go by')
'end of terrace outdated' is the wordplay.
'end of' says to take the final letters.
'outdated' becomes 'lapsed' (something out of date has lapsed).
The last letter of 'terrace' is 'e'.
'e'+'lapsed'='ELAPSED'
(Other definitions for elapsed that I've seen before include "Passed, of time" , "Went by" , "Pleased (anag.)" , "Expired" , "slipped away" .)