BURN BANK, CHURCH LANE, WITHERN, ALFORD, LN13 0NG - £225,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

BURN BANK is a very small detached house of 82m², built sometime between 1967 and 1975. It was last sold for £225,000 in July 2021, which was around 6% below the average July 2021 detached price in the East Lindsey local authority area. The most recent EPC inspection was July 2020, where the current energy rating was D, and the potential energy rating was A.

BURN BANK Sold Prices

Land registry data shows four sales for BURN BANK since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. Most of the four BURN BANK 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
2021 23 JUL	£225,000	£239,638	6% below HPI
2008 1 SEP	£178,000	£176,143	1% above HPI
2006 23 MAY	£162,000	£179,287	10% below HPI
2002 31 MAY	£78,500	£98,349	20% below HPI

BURN BANK 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 four BURN BANK sales between May 2002 and July 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 September 2008 sale was for 1% above the HPI. So the extrapolation line tracks at 1% above the HPI over time, until the July 2021 sale, where it falls to 6% below the HPI. The line then continues to track at 6% below the HPI.

How Large is BURN BANK?

BURN BANK is 82m² according to the EPC inspection conducted in July 2020. This puts it in the smallest 20% of detached houses in Withern, based on EPC data. The below chart shows the distribution of detached houses by size in Withern, and where BURN BANK lies on this distribution: 15% of detached houses are smaller than BURN BANK, and 83% of houses are larger. Note that EPC data is not available for all properties in Withern.

BURN BANK: Plot and Title Map

BURN BANK sits on a plot of roughly 0.123 of an acre, or 500m². The below map shows the location of BURN BANK, 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 BURN BANK). 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 BURN BANK?

BURN BANK is located on CHURCH LANE in WITHERN, in the LN13 postcode district. The below map shows the position of BURN BANK on CHURCH LANE.