38, MAGELLAN DRIVE, SPILSBY, PE23 5FB - £180,000

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.

38 MAGELLAN DRIVE is a very small detached house of 63m², built sometime between 2003 and 2006, which could now be worth an estimated £187,064. It was last sold for £180,000 in May 2023, which was around 35% below the average May 2023 detached price in the East Lindsey local authority area. The most recent EPC inspection was June 2016, where the current energy rating was C, and the potential energy rating was B.

38 MAGELLAN DRIVE Sold Prices

Land registry data shows three sales for 38 MAGELLAN DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. All of the three 38 MAGELLAN DRIVE 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 26 MAY	£180,000	£275,442	35% below HPI
2016 29 SEP	£140,000	£194,731	28% below HPI
2001 3 SEP	£72,950	£86,480	16% below HPI

38 MAGELLAN DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Lindsey local authority area over time, sourced from the HPI. The three 38 MAGELLAN DRIVE sales between September 2001 and May 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 September 2016 sale was for 28% below the HPI. So the extrapolation line tracks at 28% below the HPI over time, until the May 2023 sale, where it falls to 35% below the HPI. The line then continues to track at 35% below the HPI.

What might 38 MAGELLAN DRIVE be worth now?

38 MAGELLAN DRIVE might now be worth an estimated £187,064.

This is based on house price inflation of 3.9%, between May 2023 and February 2025, for detached houses, in the East Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 3.9% inflationary increase is applied to the most recent sale price for 38 MAGELLAN DRIVE of £180,000 on 26th May 2023. For the value to have increased from £180,000 to £187,064 over the two years and three months to February 2025, the following assumptions must hold true:

• The value of 38 MAGELLAN DRIVE has moved in line with the HPI for detached houses in the East Lindsey local authority area.
• The May 2023 sale price of £180,000 represented a fair market value for the property.
• The size, condition, and specification of 38 MAGELLAN DRIVE has not materially changed since May 2023.

How Large is 38 MAGELLAN DRIVE?

38 MAGELLAN DRIVE is 63m² according to the EPC inspection conducted in June 2016. This puts it in the smallest 10% of detached houses houses in Spilsby, based on EPC data. The below chart shows the distribution of detached houses houses by size in Spilsby, and where 38 MAGELLAN DRIVE lies on this distribution: 6% of detached houses houses are smaller than 38 MAGELLAN DRIVE, and 92% of houses are larger. Note that EPC data is not available for all properties in Spilsby.

38 MAGELLAN DRIVE: Plot and Title Map

38 MAGELLAN DRIVE sits on a plot of roughly 0.057 of an acre, or 231m². The below map shows the location of 38 MAGELLAN DRIVE, 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 38 MAGELLAN DRIVE). 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 38 MAGELLAN DRIVE?

38 MAGELLAN DRIVE is located in SPILSBY, in the PE23 postcode district. The below map shows the position of No. 38 on MAGELLAN DRIVE.