THE RIDINGS, FALDINGWORTH ROAD, SPRIDLINGTON, MARKET RASEN, LN8 2DF - £308,000

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 RIDINGS is a small extended detached house of 138m², built sometime between 1976 and 1982, which could now be worth an estimated £378,763. It was last sold for £308,000 in October 2020, which was around 30% above the average October 2020 detached price in the West Lindsey local authority area. The most recent EPC inspection was June 2016, where the current energy rating was D, and the potential energy rating was C.

THE RIDINGS Sold Prices

Land registry data shows two sales for THE RIDINGS since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the West Lindsey local authority area for the corresponding sale date. Both of the two THE RIDINGS sales were 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
2020 23 OCT	£308,000	£236,726	30% above HPI
1999 28 MAY	£89,950	£66,511	35% above HPI

THE RIDINGS Price Paid vs. HPI Average

The below graph shows the average detached house price in the West Lindsey local authority area over time, sourced from the HPI. The two THE RIDINGS sales from May 1999 and October 2020 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 May 1999 sale was for 35% above the HPI. So the extrapolation line tracks at 35% above the HPI over time, until the October 2020 sale, where it falls to 30% above the HPI. The line then continues to track at 30% above the HPI.

What might THE RIDINGS be worth now?

THE RIDINGS might now be worth an estimated £378,763.

This is based on house price inflation of 23%, between October 2020 and February 2025, for detached houses, in the West Lindsey local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 23% inflationary increase is applied to the most recent sale price for THE RIDINGS of £308,000 on 23rd October 2020. For the value to have increased from £308,000 to £378,763 over the five years and eight months to February 2025, the following assumptions must hold true:

• The value of THE RIDINGS has moved in line with the HPI for detached houses in the West Lindsey local authority area.
• The October 2020 sale price of £308,000 represented a fair market value for the property.
• The size, condition, and specification of THE RIDINGS has not materially changed since October 2020.

How Large is THE RIDINGS?

THE RIDINGS is 138m², which includes one extension, according to the EPC inspection conducted in June 2016. This puts it in the smallest 40% of detached houses houses in Spridlington, based on EPC data. The below chart shows the distribution of detached houses houses by size in Spridlington, and where THE RIDINGS lies on this distribution: 31% of detached houses houses are smaller than THE RIDINGS, and 69% of houses are larger. Note that EPC data is not available for all properties in Spridlington.

THE RIDINGS: Plot and Title Map

THE RIDINGS sits on a plot of roughly 0.159 of an acre, or 643m². The below map shows the location of THE RIDINGS, 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 RIDINGS). 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 RIDINGS?

THE RIDINGS is located on FALDINGWORTH ROAD in SPRIDLINGTON, in the LN8 postcode district. The below map shows the position of THE RIDINGS on FALDINGWORTH ROAD.