1, STRAITS LANE, READ, BURNLEY, BB12 7PE - £140,000

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.

1 STRAITS LANE is a very large extended terraced house of 101m², built sometime before 1900, which could now be worth an estimated £150,666. It was last sold for £140,000 in October 2023, which was around 25% below the average October 2023 terraced price in the Ribble Valley local authority area. The most recent EPC inspection was August 2020, where the current energy rating was E, and the potential energy rating was C.

1 STRAITS LANE Sold Prices

Land registry data shows two sales for 1 STRAITS LANE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average terraced price in the Ribble Valley local authority area for the corresponding sale date. Both of the two 1 STRAITS LANE 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
2023 20 OCT	£140,000	£186,081	25% below HPI
2020 27 AUG	£103,200	£156,323	34% below HPI

1 STRAITS LANE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Ribble Valley local authority area over time, sourced from the HPI. The two 1 STRAITS LANE sales from August 2020 and October 2023 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 August 2020 sale was for 34% below the HPI. So the extrapolation line tracks at 34% below the HPI over time, until the October 2023 sale, where it rises to 25% below the HPI. The line then continues to track at 25% below the HPI.

What might 1 STRAITS LANE be worth now?

1 STRAITS LANE might now be worth an estimated £150,666.

This is based on house price inflation of 7.6%, between October 2023 and May 2026, for terraced houses, in the Ribble Valley local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 7.6% inflationary increase is applied to the most recent sale price for 1 STRAITS LANE of £140,000 on 20th October 2023. For the value to have increased from £140,000 to £150,666 over the three years and five months to May 2026, the following assumptions must hold true:

• The value of 1 STRAITS LANE has moved in line with the HPI for terraced houses in the Ribble Valley local authority area.
• The October 2023 sale price of £140,000 represented a fair market value for the property.
• The size, condition, and specification of 1 STRAITS LANE has not materially changed since October 2023.

How Large is 1 STRAITS LANE?

1 STRAITS LANE is 101m², which includes two extensions, according to the EPC inspection conducted in August 2020. This puts it in the largest 20% of terraced houses in Read, based on EPC data. The below chart shows the distribution of terraced houses by size in Read, and where 1 STRAITS LANE lies on this distribution: 82% of terraced houses are smaller than 1 STRAITS LANE, and 17% of terraced houses are larger. Note that EPC data is not available for all properties in Read.

Where is 1 STRAITS LANE?

1 STRAITS LANE is located in READ, in the BB12 postcode district.