CHERRY LEA, BACK LANE, EAKRING, NEWARK, NG22 0DJ - £490,000

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.

CHERRY LEA is a small detached house of 142m², built sometime between 2003 and 2006, which could now be worth an estimated £716,397. It was last sold for £490,000 in March 2016, which was around 100% above the average March 2016 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was April 2013, where the current energy rating was A, and the potential energy rating was A.

CHERRY LEA Sold Prices

Land registry data shows two sales for CHERRY LEA since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Newark and Sherwood local authority area for the corresponding sale date. One of the two CHERRY LEA sales was for above the average price, whilst the other was 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
2016 24 MAR	£490,000	£244,713	100% above HPI
2003 9 MAY	£160,000	£161,391	1% below HPI

CHERRY LEA Price Paid vs. HPI Average

The below graph shows the average detached house price in the Newark and Sherwood local authority area over time, sourced from the HPI. The two CHERRY LEA sales from May 2003 and March 2016 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 2003 sale was for 1% below the HPI. So the extrapolation line tracks at 1% below the HPI over time, until the March 2016 sale, where it rises to 100% above the HPI. The line then continues to track at 100% above the HPI.

What might CHERRY LEA be worth now?

CHERRY LEA might now be worth an estimated £716,397.

This is based on house price inflation of 46.2%, between March 2016 and April 2026, for detached houses, in the Newark and Sherwood local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 46.2% inflationary increase is applied to the most recent sale price for CHERRY LEA of £490,000 on 24th March 2016. For the value to have increased from £490,000 to £716,397 over the nine years and eleven months to April 2026, the following assumptions must hold true:

• The value of CHERRY LEA has moved in line with the HPI for detached houses in the Newark and Sherwood local authority area.
• The March 2016 sale price of £490,000 represented a fair market value for the property.
• The size, condition, and specification of CHERRY LEA has not materially changed since March 2016.

How Large is CHERRY LEA?

CHERRY LEA is 142m² according to the EPC inspection conducted in April 2013. This puts it in the smallest 30% of detached houses houses in Eakring, based on EPC data. The below chart shows the distribution of detached houses houses by size in Eakring, and where CHERRY LEA lies on this distribution: 27% of detached houses houses are smaller than CHERRY LEA, and 73% of houses are larger. Note that EPC data is not available for all properties in Eakring.

CHERRY LEA: Plot and Title Map

CHERRY LEA sits on a plot of roughly 0.778 of an acre, or 3,149m². The below map shows the location of CHERRY LEA, 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 CHERRY LEA). 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 CHERRY LEA?

CHERRY LEA is located on BACK LANE in EAKRING, in the NG22 postcode district. The below map shows the position of CHERRY LEA on BACK LANE.