GRACES, NEW ROAD, ELMSWELL, BURY ST EDMUNDS, IP30 9BT - £305,000

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.

GRACES is a midsized extended detached house of 115m², built sometime between 1967 and 1975, which could now be worth an estimated £408,989. It was last sold for £305,000 in May 2016, which was around 10% below the average May 2016 detached price in the Mid Suffolk local authority area. The most recent EPC inspection was March 2020, where the current energy rating was E, and the potential energy rating was C.

GRACES Sold Prices

Land registry data shows three sales for GRACES since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Mid Suffolk local authority area for the corresponding sale date. All of the three GRACES 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
2016 13 MAY	£305,000	£339,929	10% below HPI
2006 18 SEP	£195,000	£261,695	25% below HPI
1998 28 AUG	£78,000	£102,347	24% below HPI

GRACES 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 three GRACES sales between August 1998 and May 2016 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 25% below the HPI. So the extrapolation line tracks at 25% below the HPI over time, until the May 2016 sale, where it rises to 10% below the HPI. The line then continues to track at 10% below the HPI.

What might GRACES be worth now?

GRACES might now be worth an estimated £408,989.

This is based on house price inflation of 34.1%, between May 2016 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 34.1% inflationary increase is applied to the most recent sale price for GRACES of £305,000 on 13th May 2016. For the value to have increased from £305,000 to £408,989 over the nine years and three months to February 2025, the following assumptions must hold true:

• The value of GRACES has moved in line with the HPI for detached houses in the Mid Suffolk local authority area.
• The May 2016 sale price of £305,000 represented a fair market value for the property.
• The size, condition, and specification of GRACES has not materially changed since May 2016.

How Large is GRACES?

GRACES is 115m², which includes one extension, according to the EPC inspection conducted in March 2020. This puts it in the smallest 50% 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 GRACES lies on this distribution: 49% of detached houses houses are smaller than GRACES, and 51% of houses are larger. Note that EPC data is not available for all properties in Elmswell.

GRACES: Plot and Title Map

GRACES sits on a plot of roughly 0.076 of an acre, or 308m². The below map shows the location of GRACES, 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 GRACES). 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 GRACES?

GRACES is located on NEW ROAD in ELMSWELL, in the IP30 postcode district. The below map shows the position of GRACES on NEW ROAD.