3, HERMES WAY, SLEAFORD, NG34 7WH - £225,000

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

3 HERMES WAY is a very small extended detached house of 74m², built sometime between 1996 and 2002. It was last sold for £225,000 in October 2023, which was around 25% below the average October 2023 detached price in the North Kesteven local authority area. The most recent EPC inspection was February 2022, where the current energy rating was D, and the potential energy rating was B.

3 HERMES WAY Sold Prices

Land registry data shows three sales for 3 HERMES WAY since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the North Kesteven local authority area for the corresponding sale date. All of the three 3 HERMES WAY 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
2023 6 OCT	£225,000	£298,735	25% below HPI
2006 17 NOV	£152,000	£188,124	19% below HPI
1999 18 FEB	£59,000	£70,979	17% below HPI

3 HERMES WAY Price Paid vs. HPI Average

The below graph shows the average detached house price in the North Kesteven local authority area over time, sourced from the HPI. The three 3 HERMES WAY sales between February 1999 and October 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 November 2006 sale was for 19% below the HPI. So the extrapolation line tracks at 19% below the HPI over time, until the October 2023 sale, where it falls to 25% below the HPI. The line then continues to track at 25% below the HPI.

How Large is 3 HERMES WAY?

3 HERMES WAY is 74m², which includes two extensions, according to the EPC inspection conducted in February 2022. This puts it in the smallest 20% of detached houses in Sleaford, based on EPC data. The below chart shows the distribution of detached houses by size in Sleaford, and where 3 HERMES WAY lies on this distribution: 13% of detached houses are smaller than 3 HERMES WAY, and 87% of houses are larger. Note that EPC data is not available for all properties in Sleaford.

3 HERMES WAY: Plot and Title Map

3 HERMES WAY sits on a plot of roughly 0.068 of an acre, or 275m². The below map shows the location of 3 HERMES WAY, 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 HERMES WAY). 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 HERMES WAY?

3 HERMES WAY is located in SLEAFORD, in the NG34 postcode district. The below map shows the position of No. 3 on HERMES WAY.