MILL COTTAGE, MILL RISE, SCOTHERN, LINCOLN, LN2 2WZ - £300,000

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.

MILL COTTAGE is a very small extended detached house of 105m², built sometime between 1950 and 1966, which could now be worth an estimated £366,092. It was last sold for £300,000 in November 2020, which was around 26% above the average November 2020 detached price in the West Lindsey local authority area. The most recent EPC inspection was April 2014, where the current energy rating was D, and the potential energy rating was B.

MILL COTTAGE Sold Prices

Land registry data shows two sales for MILL COTTAGE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the West Lindsey local authority area for the corresponding sale date. Both of the two MILL COTTAGE 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 11 NOV	£300,000	£238,558	26% above HPI
2013 24 SEP	£199,000	£182,973	9% above HPI

MILL COTTAGE Price Paid vs. HPI Average

The below graph shows the average detached house price in the West Lindsey local authority area over time, sourced from the HPI. The two MILL COTTAGE sales from September 2013 and November 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 September 2013 sale was for 9% above the HPI. So the extrapolation line tracks at 9% above the HPI over time, until the November 2020 sale, where it rises to 26% above the HPI. The line then continues to track at 26% above the HPI.

What might MILL COTTAGE be worth now?

MILL COTTAGE might now be worth an estimated £366,092.

This is based on house price inflation of 22%, between November 2020 and February 2025, for detached houses, in the West Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 22% inflationary increase is applied to the most recent sale price for MILL COTTAGE of £300,000 on 11th November 2020. For the value to have increased from £300,000 to £366,092 over the five years and nine months to February 2025, the following assumptions must hold true:

• The value of MILL COTTAGE has moved in line with the HPI for detached houses in the West Lindsey local authority area.
• The November 2020 sale price of £300,000 represented a fair market value for the property.
• The size, condition, and specification of MILL COTTAGE has not materially changed since November 2020.

How Large is MILL COTTAGE?

MILL COTTAGE is 105m², which includes two extensions, according to the EPC inspection conducted in April 2014. This puts it in the smallest 20% of detached houses houses in Scothern, based on EPC data. The below chart shows the distribution of detached houses houses by size in Scothern, and where MILL COTTAGE lies on this distribution: 19% of detached houses houses are smaller than MILL COTTAGE, and 81% of houses are larger. Note that EPC data is not available for all properties in Scothern.

MILL COTTAGE: Plot and Title Map

MILL COTTAGE sits on a plot of roughly 0.159 of an acre, or 644m². The below map shows the location of MILL 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 MILL 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 MILL COTTAGE?

MILL COTTAGE is located on MILL RISE in SCOTHERN, in the LN2 postcode district. The below map shows the position of MILL COTTAGE on MILL RISE.