BAY HOUSE, SPONG LANE, ELMSWELL, BURY ST EDMUNDS, IP30 9DX - £532,500

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.

BAY HOUSE is a very small detached house of 72m², built sometime between 2003 and 2006, which could now be worth an estimated £573,502. It was last sold for £532,500 in November 2021, which was around 26% above the average November 2021 detached price in the Mid Suffolk local authority area. The most recent EPC inspection was December 2009, where the current energy rating was C, and the potential energy rating was C.

BAY HOUSE Sold Prices

Land registry data shows four sales for BAY HOUSE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the Mid Suffolk local authority area for the corresponding sale date. Most of the four BAY HOUSE 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
2021 5 NOV	£532,500	£423,238	26% above HPI
2010 15 OCT	£305,000	£263,439	16% above HPI
2006 3 MAY	£300,000	£244,171	23% above HPI
2004 8 OCT	£95,000	£236,229	60% below HPI

BAY HOUSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Mid Suffolk local authority area over time, sourced from the HPI. The four BAY HOUSE sales between October 2004 and November 2021 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 2010 sale was for 16% above the HPI. So the extrapolation line tracks at 16% above the HPI over time, until the November 2021 sale, where it rises to 26% above the HPI. The line then continues to track at 26% above the HPI.

What might BAY HOUSE be worth now?

BAY HOUSE might now be worth an estimated £573,502.

This is based on house price inflation of 7.7%, between November 2021 and February 2025, for detached houses, in the Mid Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 7.7% inflationary increase is applied to the most recent sale price for BAY HOUSE of £532,500 on 5th November 2021. For the value to have increased from £532,500 to £573,502 over the four years and nine months to February 2025, the following assumptions must hold true:

• The value of BAY HOUSE has moved in line with the HPI for detached houses in the Mid Suffolk local authority area.
• The November 2021 sale price of £532,500 represented a fair market value for the property.
• The size, condition, and specification of BAY HOUSE has not materially changed since November 2021.

How Large is BAY HOUSE?

BAY HOUSE is 72m² according to the EPC inspection conducted in December 2009. This puts it in the smallest 10% of detached houses houses in Elmswell, based on EPC data. The below chart shows the distribution of detached houses houses by size in Elmswell, and where BAY HOUSE lies on this distribution: 5% of detached houses houses are smaller than BAY HOUSE, and 94% of houses are larger. Note that EPC data is not available for all properties in Elmswell.

BAY HOUSE: Plot and Title Map

BAY HOUSE sits on a plot of roughly 0.142 of an acre, or 576m². The below map shows the location of BAY HOUSE, 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 BAY HOUSE). 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 BAY HOUSE?

BAY HOUSE is located on SPONG LANE in ELMSWELL, in the IP30 postcode district. The below map shows the position of BAY HOUSE on SPONG LANE.