RICHMOND, WOODS LOKE EAST, LOWESTOFT, NR32 3DR - £245,000

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.

RICHMOND is a small extended semi-detached house of 73m², built sometime between 1930 and 1949, which could now be worth an estimated £242,077. It was last sold for £245,000 in October 2022, which was around 13% below the average October 2022 semi-detached price in the East Suffolk local authority area. The most recent EPC inspection was May 2018, where the current energy rating was E, and the potential energy rating was B.

RICHMOND Sold Prices

Land registry data shows two sales for RICHMOND since 1^st January 1995. The below table shows the price paid for the two sales, along with the average semi-detached price in the East Suffolk local authority area for the corresponding sale date. Both of the two RICHMOND 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
2022 28 OCT	£245,000	£282,419	13% below HPI
2018 7 SEP	£163,000	£225,959	28% below HPI

RICHMOND Price Paid vs. HPI Average

The below graph shows the average semi-detached house price in the East Suffolk local authority area over time, sourced from the HPI. The two RICHMOND sales from September 2018 and October 2022 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 2018 sale was for 28% below the HPI. So the extrapolation line tracks at 28% below the HPI over time, until the October 2022 sale, where it rises to 13% below the HPI. The line then continues to track at 13% below the HPI.

What might RICHMOND be worth now?

RICHMOND might now be worth an estimated £242,077.

This is based on house price deflation of 1.2%, between October 2022 and February 2025, for semi-detached houses, in the East Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 1.2% deflationary decrease is applied to the most recent sale price for RICHMOND of £245,000 on 28th October 2022. For the value to have decreased from £245,000 to £242,077 over the three years and eight months to February 2025, the following assumptions must hold true:

• The value of RICHMOND has moved in line with the HPI for semi-detached houses in the East Suffolk local authority area.
• The October 2022 sale price of £245,000 represented a fair market value for the property.
• The size, condition, and specification of RICHMOND has not materially changed since October 2022.

How Large is RICHMOND?

RICHMOND is 73m², which includes one extension, according to the EPC inspection conducted in May 2018. This puts it in the smallest 30% of semi-detached houses houses in Lowestoft, based on EPC data. The below chart shows the distribution of semi-detached houses houses by size in Lowestoft, and where RICHMOND lies on this distribution: 20% of semi-detached houses houses are smaller than RICHMOND, and 79% of houses are larger. Note that EPC data is not available for all properties in Lowestoft.

RICHMOND: Plot and Title Map

RICHMOND sits on a plot of roughly 0.092 of an acre, or 371m². The below map shows the location of RICHMOND, 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 RICHMOND). 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 RICHMOND?

RICHMOND is located on WOODS LOKE EAST in LOWESTOFT, in the NR32 postcode district. The below map shows the position of RICHMOND on WOODS LOKE EAST.