MAGNOLIA HOUSE, RANKSBOROUGH DRIVE, LANGHAM, OAKHAM, LE15 7JR - £467,500

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.

MAGNOLIA HOUSE is a large extended detached house of 167m², built sometime between 1991 and 1995, which could now be worth an estimated £503,031. It was last sold for £467,500 in October 2020, which was around 8% above the average October 2020 detached price in the Rutland local authority area. The most recent EPC inspection was November 2018, where the current energy rating was D, and the potential energy rating was C.

MAGNOLIA HOUSE Sold Prices

Land registry data shows three sales for MAGNOLIA HOUSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Rutland local authority area for the corresponding sale date. All of the three MAGNOLIA 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
2020 28 OCT	£467,500	£432,048	8% above HPI
2001 31 JAN	£175,000	£154,260	13% above HPI
1999 26 NOV	£159,950	£117,196	36% above HPI

MAGNOLIA HOUSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Rutland local authority area over time, sourced from the HPI. The three MAGNOLIA HOUSE sales between November 1999 and October 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 January 2001 sale was for 13% above the HPI. So the extrapolation line tracks at 13% above the HPI over time, until the October 2020 sale, where it falls to 8% above the HPI. The line then continues to track at 8% above the HPI.

What might MAGNOLIA HOUSE be worth now?

MAGNOLIA HOUSE might now be worth an estimated £503,031.

This is based on house price inflation of 7.6%, between October 2020 and March 2025, for detached houses, in the Rutland local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 7.6% inflationary increase is applied to the most recent sale price for MAGNOLIA HOUSE of £467,500 on 28th October 2020. For the value to have increased from £467,500 to £503,031 over the five years and seven months to March 2025, the following assumptions must hold true:

• The value of MAGNOLIA HOUSE has moved in line with the HPI for detached houses in the Rutland local authority area.
• The October 2020 sale price of £467,500 represented a fair market value for the property.
• The size, condition, and specification of MAGNOLIA HOUSE has not materially changed since October 2020.

How Large is MAGNOLIA HOUSE?

MAGNOLIA HOUSE is 167m², which includes two extensions, according to the EPC inspection conducted in November 2018. This puts it in the largest 40% of detached houses houses in Langham, based on EPC data. The below chart shows the distribution of detached houses houses by size in Langham, and where MAGNOLIA HOUSE lies on this distribution: 67% of detached houses houses are smaller than MAGNOLIA HOUSE, and 33% of houses are larger. Note that EPC data is not available for all properties in Langham.

MAGNOLIA HOUSE: Plot and Title Map

MAGNOLIA HOUSE sits on a plot of roughly 0.149 of an acre, or 601m². The below map shows the location of MAGNOLIA 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 MAGNOLIA 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 MAGNOLIA HOUSE?

MAGNOLIA HOUSE is located on RANKSBOROUGH DRIVE in LANGHAM, in the LE15 postcode district. The below map shows the position of MAGNOLIA HOUSE on RANKSBOROUGH DRIVE.