RED ROOFS, BROWNS LANE, NORTH SOMERCOTES, LOUTH, LN11 7RD - £225,000

RED ROOFS is a very small extended detached house of 59m², built sometime between 1900 and 1929. It was last sold for £225,000 in September 2022, which was around 19% below the average September 2022 detached price in the East Lindsey local authority area. The most recent EPC inspection was October 2018, where the current energy rating was F, and the potential energy rating was B.

RED ROOFS Sold Prices

Land registry data shows two sales for RED ROOFS since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. Both of the two RED ROOFS 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
2022 9 SEP	£225,000	£277,865	19% below HPI
2019 21 JUN	£142,000	£215,341	34% below HPI

RED ROOFS Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Lindsey local authority area over time, sourced from the HPI. The two RED ROOFS sales from June 2019 and September 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 June 2019 sale was for 34% below the HPI. So the extrapolation line tracks at 34% below the HPI over time, until the September 2022 sale, where it rises to 19% below the HPI. The line then continues to track at 19% below the HPI.

How Large is RED ROOFS?

RED ROOFS is 59m², which includes one extension, according to the EPC inspection conducted in October 2018. This puts it in the smallest 10% of detached houses in North Somercotes, based on EPC data. The below chart shows the distribution of detached houses by size in North Somercotes, and where RED ROOFS lies on this distribution: 3% of detached houses are smaller than RED ROOFS, and 97% of houses are larger. Note that EPC data is not available for all properties in North Somercotes.

RED ROOFS: Plot and Title Map

RED ROOFS sits on a plot of roughly 0.168 of an acre, or 679m². The below map shows the location of RED ROOFS, 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 RED ROOFS). 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 RED ROOFS?

RED ROOFS is located on BROWNS LANE in NORTH SOMERCOTES, in the LN11 postcode district. The below map shows the position of RED ROOFS on BROWNS LANE.