5, PARSONS CLOSE, LANCASTER, LA1 5FQ - £385,000

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.

5 PARSONS CLOSE is a midsized extended detached house of 127m², built sometime between 2003 and 2006, which could now be worth an estimated £468,615. It was last sold for £385,000 in September 2020, which was around 40% above the average September 2020 detached price in the Lancaster local authority area. The most recent EPC inspection was September 2013, where the current energy rating was C, and the potential energy rating was B.

5 PARSONS CLOSE Sold Prices

Land registry data shows three sales for 5 PARSONS CLOSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Lancaster local authority area for the corresponding sale date. All of the three 5 PARSONS 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
2020 22 SEP	£385,000	£274,426	40% above HPI
2015 16 JAN	£360,000	£221,188	63% above HPI
2003 26 NOV	£184,995	£155,758	19% above HPI

5 PARSONS CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Lancaster local authority area over time, sourced from the HPI. The three 5 PARSONS CLOSE sales between November 2003 and September 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 January 2015 sale was for 63% above the HPI. So the extrapolation line tracks at 63% above the HPI over time, until the September 2020 sale, where it falls to 40% above the HPI. The line then continues to track at 40% above the HPI.

What might 5 PARSONS CLOSE be worth now?

5 PARSONS CLOSE might now be worth an estimated £468,615.

This is based on house price inflation of 21.7%, between September 2020 and February 2025, for detached houses, in the Lancaster local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 21.7% inflationary increase is applied to the most recent sale price for 5 PARSONS CLOSE of £385,000 on 22nd September 2020. For the value to have increased from £385,000 to £468,615 over the five years and seven months to February 2025, the following assumptions must hold true:

• The value of 5 PARSONS CLOSE has moved in line with the HPI for detached houses in the Lancaster local authority area.
• The September 2020 sale price of £385,000 represented a fair market value for the property.
• The size, condition, and specification of 5 PARSONS CLOSE has not materially changed since September 2020.

How Large is 5 PARSONS CLOSE?

5 PARSONS CLOSE is 127m², which includes two extensions, according to the EPC inspection conducted in September 2013. This puts it in the largest 50% of detached houses houses in Lancaster, based on EPC data. The below chart shows the distribution of detached houses houses by size in Lancaster, and where 5 PARSONS CLOSE lies on this distribution: 58% of detached houses houses are smaller than 5 PARSONS CLOSE, and 42% of houses are larger. Note that EPC data is not available for all properties in Lancaster.

5 PARSONS CLOSE: Plot and Title Map

5 PARSONS CLOSE sits on a plot of roughly 0.092 of an acre, or 373m². The below map shows the location of 5 PARSONS 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 5 PARSONS 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 5 PARSONS CLOSE?

5 PARSONS CLOSE is located in LANCASTER, in the LA1 postcode district. The below map shows the position of No. 5 on PARSONS CLOSE.