2, CULTURE CLOSE, MELTON MOWBRAY, LE13 1NP - £249,950

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.

2 CULTURE CLOSE is a very small detached house of 84m², which could now be worth an estimated £277,566. It was last sold for £249,950 in September 2021, which was around 29% below the average September 2021 detached price in the Melton local authority area. The most recent EPC inspection was March 2016, where the current energy rating was B, and the potential energy rating was A.

2 CULTURE CLOSE Sold Prices

Land registry data shows two sales for 2 CULTURE 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 2 CULTURE CLOSE 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 30 SEP	£249,950	£352,011	29% below HPI
2017 7 APR	£195,995	£311,432	37% below HPI

2 CULTURE 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 2 CULTURE CLOSE sales from April 2017 and September 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 April 2017 sale was for 37% below the HPI. So the extrapolation line tracks at 37% below the HPI over time, until the September 2021 sale, where it rises to 29% below the HPI. The line then continues to track at 29% below the HPI.

What might 2 CULTURE CLOSE be worth now?

2 CULTURE CLOSE might now be worth an estimated £277,566.

This is based on house price inflation of 11%, between September 2021 and March 2025, 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 11% inflationary increase is applied to the most recent sale price for 2 CULTURE CLOSE of £249,950 on 30th September 2021. For the value to have increased from £249,950 to £277,566 over the four years and six months to March 2025, the following assumptions must hold true:

• The value of 2 CULTURE CLOSE has moved in line with the HPI for detached houses in the Melton local authority area.
• The September 2021 sale price of £249,950 represented a fair market value for the property.
• The size, condition, and specification of 2 CULTURE CLOSE has not materially changed since September 2021.

How Large is 2 CULTURE CLOSE?

2 CULTURE CLOSE is 84m² according to the EPC inspection conducted in March 2016. This puts it in the smallest 20% 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 2 CULTURE CLOSE lies on this distribution: 19% of detached houses houses are smaller than 2 CULTURE CLOSE, and 80% of houses are larger. Note that EPC data is not available for all properties in Melton Mowbray.

2 CULTURE CLOSE: Plot and Title Map

2 CULTURE CLOSE sits on a plot of roughly 0.045 of an acre, or 182m². The below map shows the location of 2 CULTURE 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 CULTURE 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 CULTURE CLOSE?

2 CULTURE CLOSE is located in MELTON MOWBRAY, in the LE13 postcode district. The below map shows the position of No. 2 on CULTURE CLOSE.