3, BLACKSMITHS CLOSE, NETHER BROUGHTON, MELTON MOWBRAY, LE14 3EW - £420,000

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.

3 BLACKSMITHS CLOSE is a small detached house of 119m², built sometime between 1983 and 1990, which could now be worth an estimated £520,260. It was last sold for £420,000 in May 2019, which was around 30% above the average May 2019 detached price in the Melton local authority area. The most recent EPC inspection was October 2018, where the current energy rating was C, and the potential energy rating was B.

3 BLACKSMITHS CLOSE Sold Prices

Land registry data shows two sales for 3 BLACKSMITHS CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Melton local authority area for the corresponding sale date. Both of the two 3 BLACKSMITHS CLOSE 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
2019 7 MAY	£420,000	£322,570	30% above HPI
2015 13 FEB	£315,000	£263,402	20% above HPI

3 BLACKSMITHS CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Melton local authority area over time, sourced from the HPI. The two 3 BLACKSMITHS CLOSE sales from February 2015 and May 2019 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 February 2015 sale was for 20% above the HPI. So the extrapolation line tracks at 20% above the HPI over time, until the May 2019 sale, where it rises to 30% above the HPI. The line then continues to track at 30% above the HPI.

What might 3 BLACKSMITHS CLOSE be worth now?

3 BLACKSMITHS CLOSE might now be worth an estimated £520,260.

This is based on house price inflation of 23.9%, between May 2019 and February 2025, for detached houses, in the Melton local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 23.9% inflationary increase is applied to the most recent sale price for 3 BLACKSMITHS CLOSE of £420,000 on 7th May 2019. For the value to have increased from £420,000 to £520,260 over the six years and three months to February 2025, the following assumptions must hold true:

• The value of 3 BLACKSMITHS CLOSE has moved in line with the HPI for detached houses in the Melton local authority area.
• The May 2019 sale price of £420,000 represented a fair market value for the property.
• The size, condition, and specification of 3 BLACKSMITHS CLOSE has not materially changed since May 2019.

How Large is 3 BLACKSMITHS CLOSE?

3 BLACKSMITHS CLOSE is 119m² according to the EPC inspection conducted in October 2018. This puts it in the smallest 40% of detached houses houses in Nether Broughton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Nether Broughton, and where 3 BLACKSMITHS CLOSE lies on this distribution: 37% of detached houses houses are smaller than 3 BLACKSMITHS CLOSE, and 63% of houses are larger. Note that EPC data is not available for all properties in Nether Broughton.

3 BLACKSMITHS CLOSE: Plot and Title Map

3 BLACKSMITHS CLOSE sits on a plot of roughly 0.164 of an acre, or 664m². The below map shows the location of 3 BLACKSMITHS CLOSE, 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 3 BLACKSMITHS CLOSE). 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 3 BLACKSMITHS CLOSE?

3 BLACKSMITHS CLOSE is located in NETHER BROUGHTON, in the LE14 postcode district. The below map shows the position of No. 3 on BLACKSMITHS CLOSE.