24, SPRING LANE, FARNSFIELD, NEWARK, NG22 8LD - £325,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

24 SPRING LANE is a small extended detached house of 98m², built sometime between 1983 and 1990, which could now be worth an estimated £406,643. It was last sold for £325,000 in August 2020, which was around 13% above the average August 2020 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was December 2018, where the current energy rating was D, and the potential energy rating was C.

24 SPRING LANE Sold Prices

Land registry data shows two sales for 24 SPRING LANE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Newark and Sherwood local authority area for the corresponding sale date. Both of the two 24 SPRING LANE 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
2020 19 AUG	£325,000	£286,945	13% above HPI
2000 12 JUL	£110,000	£98,734	11% above HPI

24 SPRING LANE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Newark and Sherwood local authority area over time, sourced from the HPI. The two 24 SPRING LANE sales from July 2000 and August 2020 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 2000 sale was for 11% above the HPI. So the extrapolation line tracks at 11% above the HPI over time, until the August 2020 sale, where it rises to 13% above the HPI. The line then continues to track at 13% above the HPI.

What might 24 SPRING LANE be worth now?

24 SPRING LANE might now be worth an estimated £406,643.

This is based on house price inflation of 25.1%, between August 2020 and December 2024, for detached houses, in the Newark and Sherwood local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 25.1% inflationary increase is applied to the most recent sale price for 24 SPRING LANE of £325,000 on 19th August 2020. For the value to have increased from £325,000 to £406,643 over the three years and eight months to December 2024, the following assumptions must hold true:

• The value of 24 SPRING LANE has moved in line with the HPI for detached houses in the Newark and Sherwood local authority area.
• The August 2020 sale price of £325,000 represented a fair market value for the property.
• The size, condition, and specification of 24 SPRING LANE has not materially changed since August 2020.

How Large is 24 SPRING LANE?

24 SPRING LANE is 98m², which includes one extension, according to the EPC inspection conducted in December 2018. This puts it in the smallest 30% of detached houses houses in Farnsfield, based on EPC data. The below chart shows the distribution of detached houses houses by size in Farnsfield, and where 24 SPRING LANE lies on this distribution: 24% of detached houses houses are smaller than 24 SPRING LANE, and 76% of houses are larger. Note that EPC data is not available for all properties in Farnsfield.

24 SPRING LANE: Plot and Title Map

24 SPRING LANE sits on a plot of roughly 0.088 of an acre, or 358m². The below map shows the location of 24 SPRING 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 SPRING 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 SPRING LANE?

24 SPRING LANE is located in FARNSFIELD, in the NG22 postcode district. The below map shows the position of No. 24 on SPRING LANE.