CONCORD, DAINES LANE, MELTON, WOODBRIDGE, IP12 1PA - £260,000

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.

CONCORD is a very small extended detached house of 70m², built sometime between 1967 and 1975, which could now be worth an estimated £307,698. It was last sold for £260,000 in July 2020, which was around 27% below the average July 2020 detached price in the East Suffolk local authority area. The most recent EPC inspection was August 2018, where the current energy rating was E, and the potential energy rating was B.

CONCORD Sold Prices

Land registry data shows two sales for CONCORD 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 Suffolk local authority area for the corresponding sale date. Both of the two CONCORD 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 24 JUL	£260,000	£357,467	27% below HPI
2006 13 SEP	£155,000	£237,073	35% below HPI

CONCORD Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Suffolk local authority area over time, sourced from the HPI. The two CONCORD sales from September 2006 and July 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 September 2006 sale was for 35% below the HPI. So the extrapolation line tracks at 35% below the HPI over time, until the July 2020 sale, where it rises to 27% below the HPI. The line then continues to track at 27% below the HPI.

What might CONCORD be worth now?

CONCORD might now be worth an estimated £307,698.

This is based on house price inflation of 18.3%, between July 2020 and February 2025, for detached houses, in the East Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 18.3% inflationary increase is applied to the most recent sale price for CONCORD of £260,000 on 24th July 2020. For the value to have increased from £260,000 to £307,698 over the five years and five months to February 2025, the following assumptions must hold true:

• The value of CONCORD has moved in line with the HPI for detached houses in the East Suffolk local authority area.
• The July 2020 sale price of £260,000 represented a fair market value for the property.
• The size, condition, and specification of CONCORD has not materially changed since July 2020.

How Large is CONCORD?

CONCORD is 70m², which includes one extension, according to the EPC inspection conducted in August 2018. This puts it in the smallest 10% of detached houses houses in Melton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Melton, and where CONCORD lies on this distribution: 8% of detached houses houses are smaller than CONCORD, and 90% of houses are larger. Note that EPC data is not available for all properties in Melton.

CONCORD: Plot and Title Map

CONCORD sits on a plot of roughly 0.081 of an acre, or 327m². The below map shows the location of CONCORD, 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 CONCORD). 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 CONCORD?

CONCORD is located on DAINES LANE in MELTON, in the IP12 postcode district. The below map shows the position of CONCORD on DAINES LANE.