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

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 ELVES is a very small detached house of 90m², built sometime between 1967 and 1975. It was last sold for £110,000 in March 2018, which was around 47% 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	£207,278	47% below HPI
2018 26 JAN	£94,000	£209,687	55% below HPI
1997 8 DEC	£43,000	£61,463	30% 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 55% below the HPI. So the extrapolation line tracks at 55% below the HPI over time, until the March 2018 sale, where it rises to 47% below the HPI. The line then continues to track at 47% below the HPI.

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 in East Keal, based on EPC data. The below chart shows the distribution of detached houses by size in East Keal, and where THE ELVES lies on this distribution: 19% of detached 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.