SOMERTON LODGE, WALESBY ROAD, MARKET RASEN, LN8 3EY - £290,000

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

SOMERTON LODGE is a midsized detached house of 114m², built sometime between 1983 and 1990. It was last sold for £290,000 in November 2019, which was around 28% above the average November 2019 detached price in the West Lindsey local authority area. The most recent EPC inspection was October 2019, where the current energy rating was D, and the potential energy rating was C.

SOMERTON LODGE Sold Prices

Land registry data shows three sales for SOMERTON LODGE 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. All of the three SOMERTON LODGE sales were for above 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 29 NOV	£290,000	£227,277	28% above HPI
2004 27 JUL	£270,000	£171,695	57% above HPI
1999 15 SEP	£140,000	£71,226	97% above HPI

SOMERTON LODGE 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 SOMERTON LODGE sales between September 1999 and November 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 July 2004 sale was for 57% above the HPI. So the extrapolation line tracks at 57% above the HPI over time, until the November 2019 sale, where it falls to 28% above the HPI. The line then continues to track at 28% above the HPI.

How Large is SOMERTON LODGE?

SOMERTON LODGE is 114m² according to the EPC inspection conducted in October 2019. This puts it in the largest 50% 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 SOMERTON LODGE lies on this distribution: 56% of detached houses are smaller than SOMERTON LODGE, and 43% of houses are larger. Note that EPC data is not available for all properties in Market Rasen.

SOMERTON LODGE: Plot and Title Map

SOMERTON LODGE sits on a plot of roughly 0.256 of an acre, or 1,036m². The below map shows the location of SOMERTON LODGE, 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 SOMERTON LODGE). 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 SOMERTON LODGE?

SOMERTON LODGE is located on WALESBY ROAD in MARKET RASEN, in the LN8 postcode district. The below map shows the position of SOMERTON LODGE on WALESBY ROAD.