FORGE BARN, THE COMMON, MELLIS, EYE, IP23 8EB - £365,000

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.

FORGE BARN is a very small detached house of 94m², built sometime before 1900, which could now be worth an estimated £426,579. It was last sold for £365,000 in October 2017, which was around 4% below the average October 2017 detached price in the Mid Suffolk local authority area. The most recent EPC inspection was May 2017, where the current energy rating was F, and the potential energy rating was A.

FORGE BARN Sold Prices

Land registry data shows two sales for FORGE BARN since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Mid Suffolk local authority area for the corresponding sale date. Both of the two FORGE BARN 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
2017 12 OCT	£365,000	£380,777	4% below HPI
1997 10 JAN	£78,000	£85,201	8% below HPI

FORGE BARN Price Paid vs. HPI Average

The below graph shows the average detached house price in the Mid Suffolk local authority area over time, sourced from the HPI. The two FORGE BARN sales from January 1997 and October 2017 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 1997 sale was for 8% below the HPI. So the extrapolation line tracks at 8% below the HPI over time, until the October 2017 sale, where it rises to 4% below the HPI. The line then continues to track at 4% below the HPI.

What might FORGE BARN be worth now?

FORGE BARN might now be worth an estimated £426,579.

This is based on house price inflation of 16.9%, between October 2017 and May 2026, for detached houses, in the Mid Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 16.9% inflationary increase is applied to the most recent sale price for FORGE BARN of £365,000 on 12th October 2017. For the value to have increased from £365,000 to £426,579 over the nine years and five months to May 2026, the following assumptions must hold true:

• The value of FORGE BARN has moved in line with the HPI for detached houses in the Mid Suffolk local authority area.
• The October 2017 sale price of £365,000 represented a fair market value for the property.
• The size, condition, and specification of FORGE BARN has not materially changed since October 2017.

How Large is FORGE BARN?

FORGE BARN is 94m² according to the EPC inspection conducted in May 2017. This puts it in the smallest 10% of detached houses houses in Mellis, based on EPC data. The below chart shows the distribution of detached houses houses by size in Mellis, and where FORGE BARN lies on this distribution: 10% of detached houses houses are smaller than FORGE BARN, and 90% of houses are larger. Note that EPC data is not available for all properties in Mellis.

FORGE BARN: Plot and Title Map

FORGE BARN sits on a plot of roughly 0.166 of an acre, or 670m². The below map shows the location of FORGE BARN, 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 FORGE BARN). 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 FORGE BARN?

FORGE BARN is located on THE COMMON in MELLIS, in the IP23 postcode district. The below map shows the position of FORGE BARN on THE COMMON.