2, BANK CLOSE, GALGATE, LANCASTER, LA2 0NZ - £235,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

2 BANK CLOSE is a midsized detached house of 121m², built sometime between 1950 and 1966. It was last sold for £235,000 in August 2009, which was around 10% above the average August 2009 detached price in the Lancaster local authority area. The most recent EPC inspection was May 2016, where the current energy rating was E, and the potential energy rating was B.

2 BANK CLOSE Sold Prices

Land registry data shows two sales for 2 BANK 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 Lancaster local authority area for the corresponding sale date. Both of the two 2 BANK 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
2009 7 AUG	£235,000	£214,400	10% above HPI
2001 24 AUG	£126,000	£102,910	22% above HPI

2 BANK CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Lancaster local authority area over time, sourced from the HPI. The two 2 BANK CLOSE sales from August 2001 and August 2009 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 August 2001 sale was for 22% above the HPI. So the extrapolation line tracks at 22% above the HPI over time, until the August 2009 sale, where it falls to 10% above the HPI. The line then continues to track at 10% above the HPI.

How Large is 2 BANK CLOSE?

2 BANK CLOSE is 121m² according to the EPC inspection conducted in May 2016. This puts it in the smallest 50% of detached houses in Galgate, based on EPC data. The below chart shows the distribution of detached houses by size in Galgate, and where 2 BANK CLOSE lies on this distribution: 47% of detached houses are smaller than 2 BANK CLOSE, and 53% of houses are larger. Note that EPC data is not available for all properties in Galgate.

2 BANK CLOSE: Plot and Title Map

2 BANK CLOSE sits on a plot of roughly 0.109 of an acre, or 440m². The below map shows the location of 2 BANK 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 2 BANK 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 2 BANK CLOSE?

2 BANK CLOSE is located in GALGATE, in the LA2 postcode district. The below map shows the position of No. 2 on BANK CLOSE.