24, GORSE LANE, TIPTREE, COLCHESTER, CO5 0AH - £425,000

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.

24 GORSE LANE is a very small extended detached house of 74m², built sometime between 1950 and 1966, which could now be worth an estimated £428,600. It was last sold for £425,000 in May 2022, which was around 15% below the average May 2022 detached price in the Colchester local authority area. The most recent EPC inspection was September 2021, where the current energy rating was C, and the potential energy rating was B.

24 GORSE LANE Sold Prices

Land registry data shows three sales for 24 GORSE LANE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Colchester local authority area for the corresponding sale date. All of the three 24 GORSE LANE 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 12 MAY	£425,000	£498,023	15% below HPI
2015 16 JAN	£238,000	£333,919	29% below HPI
2001 16 OCT	£115,000	£174,846	34% below HPI

24 GORSE LANE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Colchester local authority area over time, sourced from the HPI. The three 24 GORSE LANE sales between October 2001 and May 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 January 2015 sale was for 29% below the HPI. So the extrapolation line tracks at 29% below the HPI over time, until the May 2022 sale, where it rises to 15% below the HPI. The line then continues to track at 15% below the HPI.

What might 24 GORSE LANE be worth now?

24 GORSE LANE might now be worth an estimated £428,600.

This is based on house price inflation of 0.8%, between May 2022 and February 2025, for detached houses, in the Colchester local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 0.8% inflationary increase is applied to the most recent sale price for 24 GORSE LANE of £425,000 on 12th May 2022. For the value to have increased from £425,000 to £428,600 over the three years and three months to February 2025, the following assumptions must hold true:

• The value of 24 GORSE LANE has moved in line with the HPI for detached houses in the Colchester local authority area.
• The May 2022 sale price of £425,000 represented a fair market value for the property.
• The size, condition, and specification of 24 GORSE LANE has not materially changed since May 2022.

How Large is 24 GORSE LANE?

24 GORSE LANE is 74m², which includes one extension, according to the EPC inspection conducted in September 2021. This puts it in the smallest 20% of detached houses houses in Tiptree, based on EPC data. The below chart shows the distribution of detached houses houses by size in Tiptree, and where 24 GORSE LANE lies on this distribution: 11% of detached houses houses are smaller than 24 GORSE LANE, and 89% of houses are larger. Note that EPC data is not available for all properties in Tiptree.

24 GORSE LANE: Plot and Title Map

24 GORSE LANE sits on a plot of roughly 0.102 of an acre, or 412m². The below map shows the location of 24 GORSE LANE, 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 24 GORSE LANE). 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 24 GORSE LANE?

24 GORSE LANE is located in TIPTREE, in the CO5 postcode district. The below map shows the position of No. 24 on GORSE LANE.