Perkins, George Mawer & Co says ..

Property Oracle says ..

The property is a detached bungalow located in Orchard Way, Market Rasen, Lincolnshire. It has two bedrooms, one bathroom, and a total area of 522.44 sqft. The plot size is 672.74 sqft. The property is listed at £170,000. The property appears to be in need of some modernisation. The interior decor is dated, and some areas show signs of wear and tear. The kitchen and bathroom are particularly dated, suggesting a need for updating. The property benefits from having a garden. Market Rasen is a small town in Lincolnshire, with good access to local amenities including schools and a train station. The nearby schools are rated as “Good” or “Requires improvement” by Ofsted. The proximity to a train station provides convenient transport links. However, the average house price in the area is significantly higher than the list price of this property. The average price per sqft is £1.00 which is very low, suggesting the property may be underpriced. However, this average price per sqft needs further investigation as it seems unusually low. The low average price per sqft could be due to a small number of data points or other factors that are not apparent. The property’s list price in comparison to other nearby properties is lower, but the size and type of those properties vary significantly. Given the condition of the property, the need for modernisation, and the location, the list price of £170,000 could be considered reasonable, especially when considering the lower average price per sqft in the area. However, a thorough survey is recommended to assess the extent of any necessary repairs or renovations. Further investigation into the average price per sqft is also recommended.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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