THE ELVES, BLACKSMITH LANE, EAST KEAL, SPILSBY, PE23 4AZ - £110,000

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.

THE ELVES is a very small detached house of 90m², built sometime between 1967 and 1975, which could now be worth an estimated £149,013. It was last sold for £110,000 in March 2018, which was around 48% below the average March 2018 detached price in the East Lindsey local authority area. The most recent EPC inspection was October 2017, where the current energy rating was E, and the potential energy rating was B.

THE ELVES Sold Prices

Land registry data shows three sales for THE ELVES since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. All of the three THE ELVES 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
2018 27 MAR	£110,000	£210,298	48% below HPI
2018 26 JAN	£94,000	£212,742	56% below HPI
1997 8 DEC	£43,000	£62,358	31% below HPI

THE ELVES 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 three THE ELVES sales between December 1997 and March 2018 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 January 2018 sale was for 56% below the HPI. So the extrapolation line tracks at 56% below the HPI over time, until the March 2018 sale, where it rises to 48% below the HPI. The line then continues to track at 48% below the HPI.

What might THE ELVES be worth now?

THE ELVES might now be worth an estimated £149,013.

This is based on house price inflation of 35.5%, between March 2018 and March 2025, for detached houses, in the East Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 35.5% inflationary increase is applied to the most recent sale price for THE ELVES of £110,000 on 27th March 2018. For the value to have increased from £110,000 to £149,013 over the seven years to March 2025, the following assumptions must hold true:

• The value of THE ELVES has moved in line with the HPI for detached houses in the East Lindsey local authority area.
• The March 2018 sale price of £110,000 represented a fair market value for the property.
• The size, condition, and specification of THE ELVES has not materially changed since March 2018.

How Large is THE ELVES?

THE ELVES is 90m² according to the EPC inspection conducted in October 2017. This puts it in the smallest 20% of detached houses houses in East Keal, based on EPC data. The below chart shows the distribution of detached houses houses by size in East Keal, and where THE ELVES lies on this distribution: 18% of detached houses houses are smaller than THE ELVES, and 80% of houses are larger. Note that EPC data is not available for all properties in East Keal.

THE ELVES: Plot and Title Map

THE ELVES sits on a plot of roughly 0.117 of an acre, or 475m². The below map shows the location of THE ELVES, 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 ELVES). 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 ELVES?

THE ELVES is located on BLACKSMITH LANE in EAST KEAL, in the PE23 postcode district. The below map shows the position of THE ELVES on BLACKSMITH LANE.