THE GRANARY, MILL LANE, NEEDHAM, HARLESTON, IP20 9LD - £500,000

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 GRANARY is a very small extended detached house of 88m², built sometime before 1900, which could now be worth an estimated £572,914. It was last sold for £500,000 in September 2021, which was around 30% above the average September 2021 detached price in the South Norfolk local authority area. The most recent EPC inspection was April 2019, where the current energy rating was E, and the potential energy rating was A.

THE GRANARY Sold Prices

Land registry data shows six sales for THE GRANARY since 1^st January 1995. The below table shows the price paid for the six sales, along with the average detached price in the South Norfolk local authority area for the corresponding sale date. Most of the six THE GRANARY 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
2021 9 SEP	£500,000	£384,085	30% above HPI
2019 15 JUL	£400,000	£342,431	17% above HPI
2005 1 NOV	£267,500	£232,783	15% above HPI
2003 9 JUL	£315,000	£195,356	61% above HPI
2001 15 NOV	£250,000	£146,698	70% above HPI
1997 25 JUL	£38,000	£82,117	54% below HPI

THE GRANARY Price Paid vs. HPI Average

The below graph shows the average detached house price in the South Norfolk local authority area over time, sourced from the HPI. The six THE GRANARY sales between July 1997 and September 2021 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 July 2019 sale was for 17% above the HPI. So the extrapolation line tracks at 17% above the HPI over time, until the September 2021 sale, where it rises to 30% above the HPI. The line then continues to track at 30% above the HPI.

What might THE GRANARY be worth now?

THE GRANARY might now be worth an estimated £572,914.

This is based on house price inflation of 14.6%, between September 2021 and February 2025, for detached houses, in the South Norfolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 14.6% inflationary increase is applied to the most recent sale price for THE GRANARY of £500,000 on 9th September 2021. For the value to have increased from £500,000 to £572,914 over the four years and seven months to February 2025, the following assumptions must hold true:

• The value of THE GRANARY has moved in line with the HPI for detached houses in the South Norfolk local authority area.
• The September 2021 sale price of £500,000 represented a fair market value for the property.
• The size, condition, and specification of THE GRANARY has not materially changed since September 2021.

How Large is THE GRANARY?

THE GRANARY is 88m², which includes two extensions, according to the EPC inspection conducted in April 2019. This puts it in the smallest 20% of detached houses houses in Needham, based on EPC data. The below chart shows the distribution of detached houses houses by size in Needham, and where THE GRANARY lies on this distribution: 17% of detached houses houses are smaller than THE GRANARY, and 83% of houses are larger. Note that EPC data is not available for all properties in Needham.

THE GRANARY: Plot and Title Map

THE GRANARY sits on a plot of roughly 0.049 of an acre, or 200m². The below map shows the location of THE GRANARY, 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 GRANARY). 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 GRANARY?

THE GRANARY is located on MILL LANE in NEEDHAM, in the IP20 postcode district. The below map shows the position of THE GRANARY on MILL LANE.