2, SPRING BANK, GRIMSBY, DN34 4BG - £140,000

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 SPRING BANK is a very small extended detached house of 77m², built sometime between 1950 and 1966, which could now be worth an estimated £148,405. It was last sold for £140,000 in July 2022, which was around 41% below the average July 2022 detached price in the North East Lincolnshire local authority area. The most recent EPC inspection was April 2022, where the current energy rating was D, and the potential energy rating was B.

2 SPRING BANK Sold Prices

Land registry data shows two sales for 2 SPRING BANK since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the North East Lincolnshire local authority area for the corresponding sale date. Both of the two 2 SPRING BANK 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
2022 15 JUL	£140,000	£238,285	41% below HPI
2021 22 OCT	£115,000	£221,881	48% below HPI

2 SPRING BANK Price Paid vs. HPI Average

The below graph shows the average detached house price in the North East Lincolnshire local authority area over time, sourced from the HPI. The two 2 SPRING BANK sales from October 2021 and July 2022 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 October 2021 sale was for 48% below the HPI. So the extrapolation line tracks at 48% below the HPI over time, until the July 2022 sale, where it rises to 41% below the HPI. The line then continues to track at 41% below the HPI.

What might 2 SPRING BANK be worth now?

2 SPRING BANK might now be worth an estimated £148,405.

This is based on house price inflation of 6%, between July 2022 and February 2025, for detached houses, in the North East Lincolnshire local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 6% inflationary increase is applied to the most recent sale price for 2 SPRING BANK of £140,000 on 15th July 2022. For the value to have increased from £140,000 to £148,405 over the three years and five months to February 2025, the following assumptions must hold true:

• The value of 2 SPRING BANK has moved in line with the HPI for detached houses in the North East Lincolnshire local authority area.
• The July 2022 sale price of £140,000 represented a fair market value for the property.
• The size, condition, and specification of 2 SPRING BANK has not materially changed since July 2022.

How Large is 2 SPRING BANK?

2 SPRING BANK is 77m², which includes one extension, according to the EPC inspection conducted in April 2022. This puts it in the smallest 20% of detached houses houses in Grimsby, based on EPC data. The below chart shows the distribution of detached houses houses by size in Grimsby, and where 2 SPRING BANK lies on this distribution: 15% of detached houses houses are smaller than 2 SPRING BANK, and 85% of houses are larger. Note that EPC data is not available for all properties in Grimsby.

2 SPRING BANK: Plot and Title Map

2 SPRING BANK sits on a plot of roughly 0.047 of an acre, or 190m². The below map shows the location of 2 SPRING BANK, 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 SPRING BANK). 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 SPRING BANK?

2 SPRING BANK is located in GRIMSBY, in the DN34 postcode district. The below map shows the position of No. 2 on SPRING BANK.