THE ELMS, MILL LANE, CAUNTON, NEWARK, NG23 6AJ - £287,000

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

THE ELMS is a very small detached house of 67m², built sometime between 1967 and 1975. It was last sold for £287,000 in May 2023, which was around 12% below the average May 2023 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was December 2016, where the current energy rating was E, and the potential energy rating was C.

THE ELMS Sold Prices

Land registry data shows three sales for THE ELMS since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Newark and Sherwood local authority area for the corresponding sale date. All of the three THE ELMS 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
2023 9 MAY	£287,000	£325,463	12% below HPI
2019 15 FEB	£215,000	£265,283	19% below HPI
2005 29 JUL	£183,000	£205,901	11% below HPI

THE ELMS Price Paid vs. HPI Average

The below graph shows the average detached house price in the Newark and Sherwood local authority area over time, sourced from the HPI. The three THE ELMS sales between July 2005 and May 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 February 2019 sale was for 19% below the HPI. So the extrapolation line tracks at 19% below the HPI over time, until the May 2023 sale, where it rises to 12% below the HPI. The line then continues to track at 12% below the HPI.

How Large is THE ELMS?

THE ELMS is 67m² according to the EPC inspection conducted in December 2016. This puts it in the smallest 10% of detached houses in Caunton, based on EPC data. The below chart shows the distribution of detached houses by size in Caunton, and where THE ELMS lies on this distribution: Less than 1% of detached houses are smaller than THE ELMS, and more than 99% of houses are larger. Note that EPC data is not available for all properties in Caunton.

THE ELMS: Plot and Title Map

THE ELMS sits on a plot of roughly 0.122 of an acre, or 493m². The below map shows the location of THE ELMS, 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 ELMS). 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 ELMS?

THE ELMS is located on MILL LANE in CAUNTON, in the NG23 postcode district. The below map shows the position of THE ELMS on MILL LANE.