THE LOKE, SPRINGFIELD ROAD, GROOMBRIDGE, TUNBRIDGE WELLS, TN3 9RE - £478,000

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 LOKE is a very small detached house of 95m², built sometime before 1900. It was last sold for £478,000 in November 2022, which was around 23% below the average November 2022 detached price in the Wealden local authority area. The most recent EPC inspection was March 2015, where the current energy rating was E, and the potential energy rating was C.

THE LOKE Sold Prices

Land registry data shows three sales for THE LOKE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Wealden local authority area for the corresponding sale date. Two of the three THE LOKE sales were for below the average price, whilst one was 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
2022 11 NOV	£478,000	£619,219	23% below HPI
2001 31 JUL	£45,000	£210,681	79% below HPI
1997 7 NOV	£135,000	£130,966	3% above HPI

THE LOKE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Wealden local authority area over time, sourced from the HPI. The three THE LOKE sales between November 1997 and November 2022 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 July 2001 sale was for 79% below the HPI. So the extrapolation line tracks at 79% below the HPI over time, until the November 2022 sale, where it rises to 23% below the HPI. The line then continues to track at 23% below the HPI.

How Large is THE LOKE?

THE LOKE is 95m² according to the EPC inspection conducted in March 2015. This puts it in the smallest 10% of detached houses in Groombridge, based on EPC data. The below chart shows the distribution of detached houses by size in Groombridge, and where THE LOKE lies on this distribution: 9% of detached houses are smaller than THE LOKE, and 91% of houses are larger. Note that EPC data is not available for all properties in Groombridge.

THE LOKE: Plot and Title Map

THE LOKE sits on a plot of roughly 0.111 of an acre, or 449m². The below map shows the location of THE LOKE, 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 LOKE). 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 LOKE?

THE LOKE is located on SPRINGFIELD ROAD in GROOMBRIDGE, in the TN3 postcode district. The below map shows the position of THE LOKE on SPRINGFIELD ROAD.