NORWOOD, LEGSBY ROAD, MARKET RASEN, LN8 3DZ - £176,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

NORWOOD is a very small extended detached house of 75m², built sometime between 1967 and 1975. It was last sold for £176,000 in December 2016, which was around 15% below the average December 2016 detached price in the West Lindsey local authority area. The most recent EPC inspection was July 2016, where the current energy rating was D, and the potential energy rating was B.

NORWOOD Sold Prices

Land registry data shows two sales for NORWOOD 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 NORWOOD 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
2016 16 DEC	£176,000	£206,444	15% below HPI
2000 6 DEC	£70,000	£80,028	13% below HPI

NORWOOD 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 NORWOOD sales from December 2000 and December 2016 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 December 2000 sale was for 13% below the HPI. So the extrapolation line tracks at 13% below the HPI over time, until the December 2016 sale, where it falls to 15% below the HPI. The line then continues to track at 15% below the HPI.

How Large is NORWOOD?

NORWOOD is 75m², which includes one extension, according to the EPC inspection conducted in July 2016. This puts it in the smallest 20% of detached houses in Market Rasen, based on EPC data. The below chart shows the distribution of detached houses by size in Market Rasen, and where NORWOOD lies on this distribution: 14% of detached houses are smaller than NORWOOD, and 85% of houses are larger. Note that EPC data is not available for all properties in Market Rasen.

NORWOOD: Plot and Title Map

NORWOOD sits on a plot of roughly 0.124 of an acre, or 501m². The below map shows the location of NORWOOD, 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 NORWOOD). 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 NORWOOD?

NORWOOD is located on LEGSBY ROAD in MARKET RASEN, in the LN8 postcode district. The below map shows the position of NORWOOD on LEGSBY ROAD.