THE FOLLY, GREEN LANE WEST, RACKHEATH, NORWICH, NR13 6LT - £239,950

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 FOLLY is a midsized detached house of 113m², built sometime between 1950 and 1966. It was last sold for £239,950 in May 2014, which was around 5% below the average May 2014 detached price in the Broadland local authority area. The most recent EPC inspection was February 2013, where the current energy rating was E, and the potential energy rating was C.

THE FOLLY Sold Prices

Land registry data shows two sales for THE FOLLY since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Broadland local authority area for the corresponding sale date. Both of the two THE FOLLY 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
2014 14 MAY	£239,950	£251,322	5% below HPI
2000 20 MAR	£85,000	£102,807	17% below HPI

THE FOLLY Price Paid vs. HPI Average

The below graph shows the average detached house price in the Broadland local authority area over time, sourced from the HPI. The two THE FOLLY sales from March 2000 and May 2014 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 March 2000 sale was for 17% below the HPI. So the extrapolation line tracks at 17% below the HPI over time, until the May 2014 sale, where it rises to 5% below the HPI. The line then continues to track at 5% below the HPI.

How Large is THE FOLLY?

THE FOLLY is 113m² according to the EPC inspection conducted in February 2013. This puts it in the largest 50% of detached houses in Rackheath, based on EPC data. The below chart shows the distribution of detached houses by size in Rackheath, and where THE FOLLY lies on this distribution: 53% of detached houses are smaller than THE FOLLY, and 46% of houses are larger. Note that EPC data is not available for all properties in Rackheath.

THE FOLLY: Plot and Title Map

THE FOLLY sits on a plot of roughly 0.256 of an acre, or 1,034m². The below map shows the location of THE FOLLY, 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 FOLLY). 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 FOLLY?

THE FOLLY is located on GREEN LANE WEST in RACKHEATH, in the NR13 postcode district. The below map shows the position of THE FOLLY on GREEN LANE WEST.