THE COTTAGE, THORPE BANK, LITTLE STEEPING, SPILSBY, PE23 5BB - £365,000

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

THE COTTAGE is a very small detached house of 94m², built sometime between 1983 and 1990. It was last sold for £365,000 in August 2023, which was around 29% above the average August 2023 detached price in the East Lindsey local authority area. The most recent EPC inspection was March 2023, where the current energy rating was D, and the potential energy rating was C.

THE COTTAGE Sold Prices

Land registry data shows five sales for THE COTTAGE since 1^st January 1995. The below table shows the price paid for the five sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. Most of the five THE COTTAGE 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
2023 18 AUG	£365,000	£281,984	29% above HPI
2013 25 SEP	£172,500	£167,068	3% above HPI
2009 11 DEC	£130,000	£163,724	21% below HPI
2001 7 AUG	£89,000	£83,628	6% above HPI
1998 19 OCT	£33,000	£64,551	49% below HPI

THE COTTAGE 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 five THE COTTAGE sales between October 1998 and August 2023 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 2013 sale was for 3% above the HPI. So the extrapolation line tracks at 3% above the HPI over time, until the August 2023 sale, where it rises to 29% above the HPI. The line then continues to track at 29% above the HPI.

How Large is THE COTTAGE?

THE COTTAGE is 94m² according to the EPC inspection conducted in March 2023. This puts it in the smallest 20% of detached houses in Little Steeping, based on EPC data. The below chart shows the distribution of detached houses by size in Little Steeping, and where THE COTTAGE lies on this distribution: 14% of detached houses are smaller than THE COTTAGE, and 86% of houses are larger. Note that EPC data is not available for all properties in Little Steeping.

THE COTTAGE: Plot and Title Map

THE COTTAGE sits on a plot of roughly 0.524 of an acre, or 2,121m². The below map shows the location of THE COTTAGE, 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 THE COTTAGE). 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 THE COTTAGE?

THE COTTAGE is located on THORPE BANK in LITTLE STEEPING, in the PE23 postcode district. The below map shows the position of THE COTTAGE on THORPE BANK.