3, SPRING LANE, FARNSFIELD, NEWARK, NG22 8LD - £315,000

Based on the December 2024 Price Paid Data (released on 29th January 2025), the November 2024 House Price Index (released on 15th January 2025), and the December 2024 Energy Performance of Buildings Data (released on 31st January 2025). Sources

3 SPRING LANE is a very small detached house of 84m², built sometime between 1976 and 1982. It was last sold for £315,000 in October 2023, which was around 6% below the average October 2023 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was February 2018, where the current energy rating was D, and the potential energy rating was B.

3 SPRING LANE Sold Prices

Land registry data shows five sales for 3 SPRING LANE since 1^st January 1995. The below table shows the price paid for the five sales, along with the average detached price in the Newark and Sherwood local authority area for the corresponding sale date. Most of the five 3 SPRING 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
2023 10 OCT	£315,000	£335,740	6% below HPI
2018 17 AUG	£225,500	£266,987	16% below HPI
2007 10 JAN	£225,000	£212,257	6% above HPI
2005 20 JAN	£190,000	£206,703	8% below HPI
1997 24 MAR	£72,000	£72,983	1% below HPI

3 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 five 3 SPRING LANE sales between March 1997 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 August 2018 sale was for 16% below the HPI. So the extrapolation line tracks at 16% below the HPI over time, until the October 2023 sale, where it rises to 6% below the HPI. The line then continues to track at 6% below the HPI.

How Large is 3 SPRING LANE?

3 SPRING LANE is 84m² according to the EPC inspection conducted in February 2018. This puts it in the smallest 20% of detached houses in Farnsfield, based on EPC data. The below chart shows the distribution of detached houses by size in Farnsfield, and where 3 SPRING LANE lies on this distribution: 12% of detached houses are smaller than 3 SPRING LANE, and 88% of houses are larger. Note that EPC data is not available for all properties in Farnsfield.

3 SPRING LANE: Plot and Title Map

3 SPRING LANE sits on a plot of roughly 0.074 of an acre, or 300m². The below map shows the location of 3 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 3 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 3 SPRING LANE?

3 SPRING LANE is located in FARNSFIELD, in the NG22 postcode district. The below map shows the position of No. 3 on SPRING LANE.