41, MAGELLAN DRIVE, SPILSBY, PE23 5FB - £144,000

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.

41 MAGELLAN DRIVE is a very small extended detached house of 69m², built sometime between 1996 and 2002, which could now be worth an estimated £184,891. It was last sold for £144,000 in August 2020, which was around 35% below the average August 2020 detached price in the East Lindsey local authority area. The most recent EPC inspection was March 2020, where the current energy rating was C, and the potential energy rating was B.

41 MAGELLAN DRIVE Sold Prices

Land registry data shows two sales for 41 MAGELLAN DRIVE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. Both of the two 41 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
2020 28 AUG	£144,000	£222,944	35% below HPI
2001 20 JUL	£60,000	£82,015	27% below HPI

41 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 two 41 MAGELLAN DRIVE sales from July 2001 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 2001 sale was for 27% below the HPI. So the extrapolation line tracks at 27% below the HPI over time, until the August 2020 sale, where it falls to 35% below the HPI. The line then continues to track at 35% below the HPI.

What might 41 MAGELLAN DRIVE be worth now?

41 MAGELLAN DRIVE might now be worth an estimated £184,891.

This is based on house price inflation of 28.4%, between August 2020 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 28.4% inflationary increase is applied to the most recent sale price for 41 MAGELLAN DRIVE of £144,000 on 28th August 2020. For the value to have increased from £144,000 to £184,891 over the five years and six months to February 2025, the following assumptions must hold true:

• The value of 41 MAGELLAN DRIVE has moved in line with the HPI for detached houses in the East Lindsey local authority area.
• The August 2020 sale price of £144,000 represented a fair market value for the property.
• The size, condition, and specification of 41 MAGELLAN DRIVE has not materially changed since August 2020.

How Large is 41 MAGELLAN DRIVE?

41 MAGELLAN DRIVE is 69m², which includes one extension, according to the EPC inspection conducted in March 2020. This puts it in the smallest 20% 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 41 MAGELLAN DRIVE lies on this distribution: 14% of detached houses houses are smaller than 41 MAGELLAN DRIVE, and 86% of houses are larger. Note that EPC data is not available for all properties in Spilsby.

41 MAGELLAN DRIVE: Plot and Title Map

41 MAGELLAN DRIVE sits on a plot of roughly 0.057 of an acre, or 231m². The below map shows the location of 41 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 41 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 41 MAGELLAN DRIVE?

41 MAGELLAN DRIVE is located in SPILSBY, in the PE23 postcode district. The below map shows the position of No. 41 on MAGELLAN DRIVE.