2, THE WELLS, WELTON, LINCOLN, LN2 3FB - £375,000

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 THE WELLS is a midsized detached house of 110m², built sometime between 1996 and 2002, which could now be worth an estimated £395,690. It was last sold for £375,000 in June 2023, which was around 36% above the average June 2023 detached price in the West Lindsey local authority area. The most recent EPC inspection was December 2016, where the current energy rating was C, and the potential energy rating was B.

2 THE WELLS Sold Prices

Land registry data shows five sales for 2 THE WELLS since 1^st January 1995. The below table shows the price paid for the five sales, along with the average detached price in the West Lindsey local authority area for the corresponding sale date. All of the five 2 THE WELLS 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
2023 9 JUN	£375,000	£275,892	36% above HPI
2022 11 MAR	£370,000	£277,422	33% above HPI
2017 20 JUL	£245,000	£221,055	11% above HPI
2008 28 MAY	£205,000	£187,854	9% above HPI
2001 21 AUG	£117,500	£84,604	39% above HPI

2 THE WELLS Price Paid vs. HPI Average

The below graph shows the average detached house price in the West Lindsey local authority area over time, sourced from the HPI. The five 2 THE WELLS sales between August 2001 and June 2023 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 March 2022 sale was for 33% above the HPI. So the extrapolation line tracks at 33% above the HPI over time, until the June 2023 sale, where it rises to 36% above the HPI. The line then continues to track at 36% above the HPI.

What might 2 THE WELLS be worth now?

2 THE WELLS might now be worth an estimated £395,690.

This is based on house price inflation of 5.5%, between June 2023 and February 2025, for detached houses, in the West Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 5.5% inflationary increase is applied to the most recent sale price for 2 THE WELLS of £375,000 on 9th June 2023. For the value to have increased from £375,000 to £395,690 over the two years and four months to February 2025, the following assumptions must hold true:

• The value of 2 THE WELLS has moved in line with the HPI for detached houses in the West Lindsey local authority area.
• The June 2023 sale price of £375,000 represented a fair market value for the property.
• The size, condition, and specification of 2 THE WELLS has not materially changed since June 2023.

How Large is 2 THE WELLS?

2 THE WELLS is 110m² according to the EPC inspection conducted in December 2016. This puts it in the smallest 50% of detached houses houses in Welton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Welton, and where 2 THE WELLS lies on this distribution: 45% of detached houses houses are smaller than 2 THE WELLS, and 54% of houses are larger. Note that EPC data is not available for all properties in Welton.

2 THE WELLS: Plot and Title Map

2 THE WELLS sits on a plot of roughly 0.083 of an acre, or 334m². The below map shows the location of 2 THE WELLS, 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 THE WELLS). 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 THE WELLS?

2 THE WELLS is located in WELTON, in the LN2 postcode district. The below map shows the position of No. 2 on THE WELLS.