PROTEA HOUSE, BISHOP NORTON, MARKET RASEN, LN8 2BH - £315,000

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.

PROTEA HOUSE is a very small extended detached house of 124m², built sometime before 1900, which could now be worth an estimated £406,391. It was last sold for £315,000 in March 2019, which was around 40% above the average March 2019 detached price in the West Lindsey local authority area. The most recent EPC inspection was September 2017, where the current energy rating was E, and the potential energy rating was C.

PROTEA HOUSE Sold Prices

Land registry data shows three sales for PROTEA HOUSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the West Lindsey local authority area for the corresponding sale date. One of the three PROTEA HOUSE sales was for above the average price, whilst two 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
2019 18 MAR	£315,000	£225,647	40% above HPI
2006 27 OCT	£160,000	£186,828	14% below HPI
2001 20 APR	£72,950	£83,000	12% below HPI

PROTEA HOUSE 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 three PROTEA HOUSE sales between April 2001 and March 2019 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 October 2006 sale was for 14% below the HPI. So the extrapolation line tracks at 14% below the HPI over time, until the March 2019 sale, where it rises to 40% above the HPI. The line then continues to track at 40% above the HPI.

What might PROTEA HOUSE be worth now?

PROTEA HOUSE might now be worth an estimated £406,391.

This is based on house price inflation of 29%, between March 2019 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 29% inflationary increase is applied to the most recent sale price for PROTEA HOUSE of £315,000 on 18th March 2019. For the value to have increased from £315,000 to £406,391 over the six years and one month to February 2025, the following assumptions must hold true:

• The value of PROTEA HOUSE has moved in line with the HPI for detached houses in the West Lindsey local authority area.
• The March 2019 sale price of £315,000 represented a fair market value for the property.
• The size, condition, and specification of PROTEA HOUSE has not materially changed since March 2019.

How Large is PROTEA HOUSE?

PROTEA HOUSE is 124m², which includes one extension, according to the EPC inspection conducted in September 2017. This puts it in the smallest 20% of detached houses houses in Bishop Norton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Bishop Norton, and where PROTEA HOUSE lies on this distribution: 19% of detached houses houses are smaller than PROTEA HOUSE, and 81% of houses are larger. Note that EPC data is not available for all properties in Bishop Norton.

PROTEA HOUSE: Plot and Title Map

PROTEA HOUSE sits on a plot of roughly 234.5 acres, or 949,045m². The below map shows the location of PROTEA HOUSE, 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 PROTEA HOUSE). 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 PROTEA HOUSE?

PROTEA HOUSE is located in BISHOP NORTON, in the LN8 postcode district. The below map shows the position of PROTEA HOUSE in BISHOP NORTON.