2, PROSPECT ROAD, LOWESTOFT, NR32 3PT - £289,500

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

2 PROSPECT ROAD is a small extended detached house of 87m², built sometime between 1950 and 1966. It was last sold for £289,500 in December 2017, which was around 15% below the average December 2017 detached price in the East Suffolk local authority area. The most recent EPC inspection was January 2013, where the current energy rating was D, and the potential energy rating was B.

2 PROSPECT ROAD Sold Prices

Land registry data shows three sales for 2 PROSPECT ROAD since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Suffolk local authority area for the corresponding sale date. All of the three 2 PROSPECT ROAD 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
2017 1 DEC	£289,500	£342,166	15% below HPI
2005 15 JUL	£205,000	£223,310	8% below HPI
2000 28 JUN	£74,995	£111,912	33% below HPI

2 PROSPECT ROAD Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Suffolk local authority area over time, sourced from the HPI. The three 2 PROSPECT ROAD sales between June 2000 and December 2017 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 July 2005 sale was for 8% below the HPI. So the extrapolation line tracks at 8% below the HPI over time, until the December 2017 sale, where it falls to 15% below the HPI. The line then continues to track at 15% below the HPI.

How Large is 2 PROSPECT ROAD?

2 PROSPECT ROAD is 87m², which includes two extensions, according to the EPC inspection conducted in January 2013. This puts it in the smallest 40% of detached houses in Lowestoft, based on EPC data. The below chart shows the distribution of detached houses by size in Lowestoft, and where 2 PROSPECT ROAD lies on this distribution: 39% of detached houses are smaller than 2 PROSPECT ROAD, and 60% of houses are larger. Note that EPC data is not available for all properties in Lowestoft.

2 PROSPECT ROAD: Plot and Title Map

2 PROSPECT ROAD sits on a plot of roughly 0.110 of an acre, or 447m². The below map shows the location of 2 PROSPECT ROAD, 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 PROSPECT ROAD). 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 PROSPECT ROAD?

2 PROSPECT ROAD is located in LOWESTOFT, in the NR32 postcode district. The below map shows the position of No. 2 on PROSPECT ROAD.