7, SPRING LANE, FOLKINGHAM, SLEAFORD, NG34 0SJ - £550,000

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

7 SPRING LANE is a very large extended detached house of 200m², built sometime between 1950 and 1966. It was last sold for £550,000 in August 2022, which was around 47% above the average August 2022 detached price in the South Kesteven local authority area. The most recent EPC inspection was October 2021, where the current energy rating was D, and the potential energy rating was C.

7 SPRING LANE Sold Prices

Land registry data shows three sales for 7 SPRING LANE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the South Kesteven local authority area for the corresponding sale date. Two of the three 7 SPRING LANE sales were for above the average price, whilst one was 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
2022 8 AUG	£550,000	£374,762	47% above HPI
1998 30 OCT	£88,000	£88,642	1% below HPI
1996 29 OCT	£82,000	£73,539	12% above HPI

7 SPRING LANE Price Paid vs. HPI Average

The below graph shows the average detached house price in the South Kesteven local authority area over time, sourced from the HPI. The three 7 SPRING LANE sales between October 1996 and August 2022 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 October 1998 sale was for 1% below the HPI. So the extrapolation line tracks at 1% below the HPI over time, until the August 2022 sale, where it rises to 47% above the HPI. The line then continues to track at 47% above the HPI.

How Large is 7 SPRING LANE?

7 SPRING LANE is 200m², which includes one extension, according to the EPC inspection conducted in October 2021. This puts it in the largest 10% of detached houses in Folkingham, based on EPC data. The below chart shows the distribution of detached houses by size in Folkingham, and where 7 SPRING LANE lies on this distribution: 92% of detached houses are smaller than 7 SPRING LANE, and 8% of houses are larger. Note that EPC data is not available for all properties in Folkingham.

7 SPRING LANE: Plot and Title Map

7 SPRING LANE sits on a plot of roughly 0.341 of an acre, or 1,381m². The below map shows the location of 7 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 7 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 7 SPRING LANE?

7 SPRING LANE is located in FOLKINGHAM, in the NG34 postcode district. The below map shows the position of No. 7 on SPRING LANE.