Springfields, Rackenford Road, Tiverton, Mid Devon, Devon, EX16 5AG

Detached
2228 sq ft
32%
PROPERTY VALUATION
£
Price change: +£138,000
Since last sold: December 2019
VALUATION RANGE
£538k - £588k
LOW OFFER | HIGH OFFER
Confidence: Medium
Good
Condition
Reasonable
Condition
Poor
Condition

At a sale price of £563k, we expect this property to be in poor condition.

UPDATE CONDITION

Property summary Last updated: 05/03/2024

Last updated: 05/03/2024

Springfields, Rackenford Road is a detached house spread over 2,228 square feet, making it one of the largest properties here - it is ranked as the 2nd most expensive property* in EX16 5AG, with a valuation of £563,000.

Since it last sold in December 2019 for £425,000, its value has increased by £138,000.

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Essential buying details

  • If no refurbishment work has been carried out since it was last purchased, we expect the property to sell for between £538k and £588k.

  • The property turned out to be a really good investment for the previous owner - returning on average 6.1% per annum.

  • 9 detached houses have sold at an average price of £398,166 over the last 12 months (in the area coverring EX16 5).

  • Built between 1983 and 1990, the property has sold twice over the last 29 years.

  • At a sale price of £563k, we expect this property to be in slightly worse condition than the neighbouring properties.
  • This property has a lower cost per square foot than other properties in the area, which is why we think it is more likely to be in worse condition. This can be caused by a lack of general upkeep but it can also arise if the property has had a low quality extension. Typically houses with conservatory's often have a lower cost per square foot as whilst these make the property bigger, they tend to be cheaper to build and less usable.
  • At a valuation of £563k it has a cost per square foot of £252, which is slightly less than the average for the area. The average cost per square foot for property here is £276.
  • If we valued this property using the average cost per square foot (CPSF) - it would be worth £615k. For it to sell for this amount, we would expect it to be in a similar state decoratively to the average property here and also have a similar sized plot of land.
  • We use survey data provided by RICS qualified surveyors to obtain the property's size. This is calculated in a slightly different way to how an estate agent will measure a property as it only includes habitable space.
  • To calculate the price per square foot, you divide the property's sale price by its total square footage.
Prices start at:
£325k
Average house price:
£432k
Most expensive:
£598k
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32%
This property has increased in price by 32% since it last sold 4 years ago
30%
This property is 30% more expensive than average in Rackenford Road, EX16 5AG

Sale history

The most paid for a property in Rackenford Road, EX16 5AG was £535,000 in 2022.

Date Price Change
Today's value* £563,000 32.5%
09 Dec 2019 £425,000 286.4%
03 Jan 1997 £110,000 -
Springfields, Rackenford Road, Tiverton is a detached house with 2,228 square feet of internal space built between 1983 and 1990.
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Valuation details

The most likely sale price is £563,000 but at the lower end we think it should fetch a minimum of £538,000.

On a cost per square foot basis, this property is valued at 9% less than the other houses in this postcode.

This property has increased in price by £138,000 since it last sold in 2019 - this equates to a 6.7% rise each year.

If the property has been refurbished or extended since it was last purchased, tell us about any home improvements to get a revised valuation.

A lower cost per square foot can indicate that the property is in a worse condition and needs more refurbishment work or that it has a smaller garden (for more information see our valuation review) of this property.

If the property was previously purchased in a bad state of repair, making home improvements could increase its sale price to £647,000.

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Investment Performance
Annual change: 6.1%

Was It A Good Investment?

The previous owner had the property for 22 years, having purchased it in January 1997 for £110,000.

During this time, the price rose by £315,000 (286.4%), which equates to it increasing in value by 6.1% each year.

The property turned out to be a really good investment for the previous owner.

How does this property compare?

  • Most likely sale price: £563,000.
    • Offers likely to be accepted between £538,000 and £588,000.
    • Cost per squre foot: £252 (at a valuation of £563,000) - the average cost per square foot for this postcode is £276.
  • Freehold detached house.
    • 2,228 square feet.
  • Property energy rating: 72.
    • This is above average for this postcode.
    • A score of 100 is the best energy rating a property can be given.

The local market - EX16 5AG

  • The average property price for this postcode is £432,000.
    • Prices here range from £325,000 to £598,000.
    • Expect to pay £234 to £317 per square foot for property in EX16 5AG.
  • 3 properties have sold in EX16 5AG over the last 5 years.

The property market across EX16 5

  • The average price paid for a detached house in the area EX16 5 over the past year is £398k.
  • Detached houses have been selling for £341 per square foot across EX16 5.
  • 9 detached houses have sold over the last 12 months (in the area coverring EX16 5).
What does it cost to live in this area?

Valuation accuracy

If the automated valuation doesn't look right you can create a custom valuation report by finding comparable properties near by to generate a fresh valuation.

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Things to check before buying a new home

Working out a property's valuation can be tricky but we are here to help you get the information you need to know before putting in an offer.

* Excluding properties that we've been unable to calculate a valuation for. ** Excludes property transactions that occurred before 1995.

Whilst all reasonable effort is made to ensure the information in this website is current, The Move Market does not warrant the accuracy or completeness and accepts no liability for any loss or damage or costs.

Contains HM Land Registry data © Crown copyright and database right 2023. This data is licensed under the Open Government Licence v3.0.

The latest HM Land registry data covers property transactions up until 31/01/2024 - this was released on the 28/02/2024.