NEW BUNGALOW, WATER LANE, EAST STREET, HORNCASTLE, LN9 6AA - £142,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

NEW BUNGALOW is a very small detached house of 64m², built sometime between 1967 and 1975. It was last sold for £142,000 in June 2020, which was around 36% below the average June 2020 detached price in the East Lindsey local authority area. The most recent EPC inspection was September 2019, where the current energy rating was D, and the potential energy rating was B.

NEW BUNGALOW Sold Prices

Land registry data shows three sales for NEW BUNGALOW since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. All of the three NEW BUNGALOW 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
2020 12 JUN	£142,000	£221,978	36% below HPI
2017 9 NOV	£120,000	£210,451	43% below HPI
1995 22 DEC	£33,000	£57,584	43% below HPI

NEW BUNGALOW 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 three NEW BUNGALOW sales between December 1995 and June 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 November 2017 sale was for 43% below the HPI. So the extrapolation line tracks at 43% below the HPI over time, until the June 2020 sale, where it rises to 36% below the HPI. The line then continues to track at 36% below the HPI.

What might NEW BUNGALOW be worth now?

NEW BUNGALOW might now be worth an estimated £182,246.

This is based on house price inflation of 28.3%, between June 2020 and December 2024, for detached houses, in the East Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 28.3% inflationary increase is applied to the most recent sale price for NEW BUNGALOW of £142,000 on 12th June 2020. For the value to have increased from £142,000 to £182,246 over the three years and six months to December 2024, the following assumptions must hold true:

• The value of NEW BUNGALOW has moved in line with the HPI for detached houses in the East Lindsey local authority area.
• The June 2020 sale price of £142,000 represented a fair market value for the property.
• The size, condition, and specification of NEW BUNGALOW has not materially changed since June 2020.

How Large is NEW BUNGALOW?

NEW BUNGALOW is 64m² according to the EPC inspection conducted in September 2019. This puts it in the smallest 10% of detached houses houses in Horncastle, based on EPC data. The below chart shows the distribution of detached houses houses by size in Horncastle, and where NEW BUNGALOW lies on this distribution: 8% of detached houses houses are smaller than NEW BUNGALOW, and 91% of houses are larger. Note that EPC data is not available for all properties in Horncastle.

NEW BUNGALOW: Plot and Title Map

NEW BUNGALOW sits on a plot of roughly 0.058 of an acre, or 233m². The below map shows the location of NEW BUNGALOW, 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 NEW BUNGALOW). 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 NEW BUNGALOW?

NEW BUNGALOW, WATER LANE is located on EAST STREET in HORNCASTLE, in the LN9 postcode district. The below map shows the position of NEW BUNGALOW, WATER LANE on EAST STREET.