NEOTIS, CHURCHILL ROAD, NORTH SOMERCOTES, LOUTH, LN11 7QS - £192,000

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

NEOTIS is a very small detached house of 73m², built sometime between 1930 and 1949. It was last sold for £192,000 in September 2021, which was around 22% below the average September 2021 detached price in the East Lindsey local authority area. The most recent EPC inspection was May 2017, where the current energy rating was D, and the potential energy rating was B.

NEOTIS Sold Prices

Land registry data shows two sales for NEOTIS 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 NEOTIS 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
2021 27 SEP	£192,000	£245,698	22% below HPI
2017 4 AUG	£154,000	£211,244	27% below HPI

NEOTIS 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 NEOTIS sales from August 2017 and September 2021 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 August 2017 sale was for 27% below the HPI. So the extrapolation line tracks at 27% below the HPI over time, until the September 2021 sale, where it rises to 22% below the HPI. The line then continues to track at 22% below the HPI.

How Large is NEOTIS?

NEOTIS is 73m² according to the EPC inspection conducted in May 2017. This puts it in the smallest 20% of detached houses in North Somercotes, based on EPC data. The below chart shows the distribution of detached houses by size in North Somercotes, and where NEOTIS lies on this distribution: 15% of detached houses are smaller than NEOTIS, and 83% of houses are larger. Note that EPC data is not available for all properties in North Somercotes.

NEOTIS: Plot and Title Map

NEOTIS sits on a plot of roughly 0.401 of an acre, or 1,624m². The below map shows the location of NEOTIS, 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 NEOTIS). 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 NEOTIS?

NEOTIS is located on CHURCHILL ROAD in NORTH SOMERCOTES, in the LN11 postcode district. The below map shows the position of NEOTIS on CHURCHILL ROAD.