1, SOMERSET CLOSE, MELTON MOWBRAY, LE13 0JS - £265,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

1 SOMERSET CLOSE is a very large extended detached house of 172m², built sometime between 1967 and 1975, which could now be worth an estimated £424,448. It was last sold for £265,000 in October 2012, which was around 7% above the average October 2012 detached price in the Melton local authority area. The most recent EPC inspection was April 2011, where the current energy rating was E, and the potential energy rating was D.

1 SOMERSET CLOSE Sold Prices

Land registry data shows two sales for 1 SOMERSET CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Melton local authority area for the corresponding sale date. Both of the two 1 SOMERSET CLOSE sales were for above 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
2012 10 OCT	£265,000	£248,570	7% above HPI
1997 12 DEC	£117,000	£98,048	19% above HPI

1 SOMERSET CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Melton local authority area over time, sourced from the HPI. The two 1 SOMERSET CLOSE sales from December 1997 and October 2012 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 December 1997 sale was for 19% above the HPI. So the extrapolation line tracks at 19% above the HPI over time, until the October 2012 sale, where it falls to 7% above the HPI. The line then continues to track at 7% above the HPI.

What might 1 SOMERSET CLOSE be worth now?

1 SOMERSET CLOSE might now be worth an estimated £424,448.

This is based on house price inflation of 60.2%, between October 2012 and December 2024, for detached houses, in the Melton local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 60.2% inflationary increase is applied to the most recent sale price for 1 SOMERSET CLOSE of £265,000 on 10th October 2012. For the value to have increased from £265,000 to £424,448 over the eleven years and ten months to December 2024, the following assumptions must hold true:

• The value of 1 SOMERSET CLOSE has moved in line with the HPI for detached houses in the Melton local authority area.
• The October 2012 sale price of £265,000 represented a fair market value for the property.
• The size, condition, and specification of 1 SOMERSET CLOSE has not materially changed since October 2012.

How Large is 1 SOMERSET CLOSE?

1 SOMERSET CLOSE is 172m², which includes one extension, according to the EPC inspection conducted in April 2011. This puts it in the largest 10% of detached houses houses in Melton Mowbray, based on EPC data. The below chart shows the distribution of detached houses houses by size in Melton Mowbray, and where 1 SOMERSET CLOSE lies on this distribution: 92% of detached houses houses are smaller than 1 SOMERSET CLOSE, and 8% of houses are larger. Note that EPC data is not available for all properties in Melton Mowbray.

1 SOMERSET CLOSE: Plot and Title Map

1 SOMERSET CLOSE sits on a plot of roughly 0.156 of an acre, or 632m². The below map shows the location of 1 SOMERSET CLOSE, 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 1 SOMERSET CLOSE). 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 1 SOMERSET CLOSE?

1 SOMERSET CLOSE is located in MELTON MOWBRAY, in the LE13 postcode district. The below map shows the position of No. 1 on SOMERSET CLOSE.