MEUM, MILL LANE, CAUNTON, NEWARK, NG23 6AJ - £385,000

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.

MEUM is a midsized extended detached house of 172m², built sometime between 1950 and 1966, which could now be worth an estimated £447,298. It was last sold for £385,000 in December 2020, which was around 27% above the average December 2020 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was June 2019, where the current energy rating was E, and the potential energy rating was D.

MEUM Sold Prices

Land registry data shows two sales for MEUM since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Newark and Sherwood local authority area for the corresponding sale date. One of the two MEUM sales was for above the average price, whilst the other was 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
2020 11 DEC	£385,000	£302,969	27% above HPI
2006 30 JUN	£210,000	£215,727	3% below HPI

MEUM Price Paid vs. HPI Average

The below graph shows the average detached house price in the Newark and Sherwood local authority area over time, sourced from the HPI. The two MEUM sales from June 2006 and December 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 June 2006 sale was for 3% below the HPI. So the extrapolation line tracks at 3% below the HPI over time, until the December 2020 sale, where it rises to 27% above the HPI. The line then continues to track at 27% above the HPI.

What might MEUM be worth now?

MEUM might now be worth an estimated £447,298.

This is based on house price inflation of 16.2%, between December 2020 and February 2025, for detached houses, in the Newark and Sherwood local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 16.2% inflationary increase is applied to the most recent sale price for MEUM of £385,000 on 11th December 2020. For the value to have increased from £385,000 to £447,298 over the five years and ten months to February 2025, the following assumptions must hold true:

• The value of MEUM has moved in line with the HPI for detached houses in the Newark and Sherwood local authority area.
• The December 2020 sale price of £385,000 represented a fair market value for the property.
• The size, condition, and specification of MEUM has not materially changed since December 2020.

How Large is MEUM?

MEUM is 172m², which includes four extensions, according to the EPC inspection conducted in June 2019. This puts it in the largest 50% of detached houses houses in Caunton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Caunton, and where MEUM lies on this distribution: 55% of detached houses houses are smaller than MEUM, and 45% of houses are larger. Note that EPC data is not available for all properties in Caunton.

MEUM: Plot and Title Map

MEUM sits on a plot of roughly 0.116 of an acre, or 468m². The below map shows the location of MEUM, 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 MEUM). 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 MEUM?

MEUM is located on MILL LANE in CAUNTON, in the NG23 postcode district. The below map shows the position of MEUM on MILL LANE.