MELBOURNE COTTAGE, RICHARDS CASTLE, LUDLOW, SY8 4EL - £250,000

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.

MELBOURNE COTTAGE is a small detached house of 114m², built sometime before 1900, which could now be worth an estimated £404,624. It was last sold for £250,000 in September 2011, which was around 9% below the average September 2011 detached price in the Herefordshire local authority area. The most recent EPC inspection was December 2008, where the current energy rating was G, and the potential energy rating was F.

MELBOURNE COTTAGE Sold Prices

Land registry data shows three sales for MELBOURNE COTTAGE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Herefordshire local authority area for the corresponding sale date. All of the three MELBOURNE COTTAGE 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
2011 16 SEP	£250,000	£273,674	9% below HPI
2002 16 SEP	£149,950	£182,875	18% below HPI
2000 11 AUG	£110,000	£137,943	20% below HPI

MELBOURNE COTTAGE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Herefordshire local authority area over time, sourced from the HPI. The three MELBOURNE COTTAGE sales between August 2000 and September 2011 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 2002 sale was for 18% below the HPI. So the extrapolation line tracks at 18% below the HPI over time, until the September 2011 sale, where it rises to 9% below the HPI. The line then continues to track at 9% below the HPI.

What might MELBOURNE COTTAGE be worth now?

MELBOURNE COTTAGE might now be worth an estimated £404,624.

This is based on house price inflation of 61.8%, between September 2011 and February 2025, for detached houses, in the Herefordshire local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 61.8% inflationary increase is applied to the most recent sale price for MELBOURNE COTTAGE of £250,000 on 16th September 2011. For the value to have increased from £250,000 to £404,624 over the fourteen years and seven months to February 2025, the following assumptions must hold true:

• The value of MELBOURNE COTTAGE has moved in line with the HPI for detached houses in the Herefordshire local authority area.
• The September 2011 sale price of £250,000 represented a fair market value for the property.
• The size, condition, and specification of MELBOURNE COTTAGE has not materially changed since September 2011.

How Large is MELBOURNE COTTAGE?

MELBOURNE COTTAGE is 114m² according to the EPC inspection conducted in December 2008. This puts it in the smallest 30% of detached houses houses in Richards Castle, based on EPC data. The below chart shows the distribution of detached houses houses by size in Richards Castle, and where MELBOURNE COTTAGE lies on this distribution: 22% of detached houses houses are smaller than MELBOURNE COTTAGE, and 78% of houses are larger. Note that EPC data is not available for all properties in Richards Castle.

MELBOURNE COTTAGE: Plot and Title Map

MELBOURNE COTTAGE sits on a plot of roughly 0.103 of an acre, or 416m². The below map shows the location of MELBOURNE COTTAGE, 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 MELBOURNE COTTAGE). 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 MELBOURNE COTTAGE?

MELBOURNE COTTAGE is located in RICHARDS CASTLE, in the SY8 postcode district. The below map shows the position of MELBOURNE COTTAGE in RICHARDS CASTLE.