MAGNOLIAS, HALL LANE, WEST KEAL, SPILSBY, PE23 4BJ - £237,500

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

MAGNOLIAS is a very small detached house of 74m², built sometime between 1976 and 1982. It was last sold for £237,500 in May 2022, which was around 12% below the average May 2022 detached price in the East Lindsey local authority area. The most recent EPC inspection was June 2021, where the current energy rating was E, and the potential energy rating was C.

MAGNOLIAS Sold Prices

Land registry data shows two sales for MAGNOLIAS 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 Lindsey local authority area for the corresponding sale date. Both of the two MAGNOLIAS 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
2022 20 MAY	£237,500	£269,782	12% below HPI
1997 31 JUL	£39,600	£60,466	35% below HPI

MAGNOLIAS 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 two MAGNOLIAS sales from July 1997 and May 2022 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 July 1997 sale was for 35% below the HPI. So the extrapolation line tracks at 35% below the HPI over time, until the May 2022 sale, where it rises to 12% below the HPI. The line then continues to track at 12% below the HPI.

How Large is MAGNOLIAS?

MAGNOLIAS is 74m² according to the EPC inspection conducted in June 2021. This puts it in the smallest 10% of detached houses in West Keal, based on EPC data. The below chart shows the distribution of detached houses by size in West Keal, and where MAGNOLIAS lies on this distribution: 10% of detached houses are smaller than MAGNOLIAS, and 88% of houses are larger. Note that EPC data is not available for all properties in West Keal.

MAGNOLIAS: Plot and Title Map

MAGNOLIAS sits on a plot of roughly 0.190 of an acre, or 771m². The below map shows the location of MAGNOLIAS, 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 MAGNOLIAS). 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 MAGNOLIAS?

MAGNOLIAS is located on HALL LANE in WEST KEAL, in the PE23 postcode district. The below map shows the position of MAGNOLIAS on HALL LANE.