FAIRFIELD, GAINSBOROUGH ROAD, MIDDLE RASEN, MARKET RASEN, LN8 3JS - £210,000

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.

FAIRFIELD is a small extended detached house of 95m², built sometime between 1930 and 1949, which could now be worth an estimated £243,447. It was last sold for £210,000 in February 2021, which was around 16% below the average February 2021 detached price in the West Lindsey local authority area. The most recent EPC inspection was September 2020, where the current energy rating was D, and the potential energy rating was C.

FAIRFIELD Sold Prices

Land registry data shows four sales for FAIRFIELD since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the West Lindsey local authority area for the corresponding sale date. All of the four FAIRFIELD 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 5 FEB	£210,000	£251,118	16% below HPI
2017 2 JUN	£127,500	£218,080	42% below HPI
2016 24 FEB	£125,000	£197,698	37% below HPI
2001 25 APR	£37,000	£83,000	55% below HPI

FAIRFIELD Price Paid vs. HPI Average

The below graph shows the average detached house price in the West Lindsey local authority area over time, sourced from the HPI. The four FAIRFIELD sales between April 2001 and February 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 June 2017 sale was for 42% below the HPI. So the extrapolation line tracks at 42% below the HPI over time, until the February 2021 sale, where it rises to 16% below the HPI. The line then continues to track at 16% below the HPI.

What might FAIRFIELD be worth now?

FAIRFIELD might now be worth an estimated £243,447.

This is based on house price inflation of 15.9%, between February 2021 and February 2025, for detached houses, in the West Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 15.9% inflationary increase is applied to the most recent sale price for FAIRFIELD of £210,000 on 5th February 2021. For the value to have increased from £210,000 to £243,447 over the four years to February 2025, the following assumptions must hold true:

• The value of FAIRFIELD has moved in line with the HPI for detached houses in the West Lindsey local authority area.
• The February 2021 sale price of £210,000 represented a fair market value for the property.
• The size, condition, and specification of FAIRFIELD has not materially changed since February 2021.

How Large is FAIRFIELD?

FAIRFIELD is 95m², which includes one extension, according to the EPC inspection conducted in September 2020. This puts it in the smallest 40% of detached houses houses in Middle Rasen, based on EPC data. The below chart shows the distribution of detached houses houses by size in Middle Rasen, and where FAIRFIELD lies on this distribution: 33% of detached houses houses are smaller than FAIRFIELD, and 66% of houses are larger. Note that EPC data is not available for all properties in Middle Rasen.

FAIRFIELD: Plot and Title Map

FAIRFIELD sits on a plot of roughly 0.126 of an acre, or 508m². The below map shows the location of FAIRFIELD, 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 FAIRFIELD). 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 FAIRFIELD?

FAIRFIELD is located on GAINSBOROUGH ROAD in MIDDLE RASEN, in the LN8 postcode district. The below map shows the position of FAIRFIELD on GAINSBOROUGH ROAD.