£681,295
This estimated value is based upon the latest sale price for the house of £112,000 on 13 Oct 2023. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
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| Price Paid | Date |
|---|---|
| £112,000 | 13 Oct 2023 |
| £75,000 | 16 Jun 2014 |
| Terraced |
| Freehold |
| Floor Area: 73 sq meters or 785 sq feet |
This model uses changes in the Official Land Registry House Price Index for TYNE AND WEAR to estimate the market value.
When this house was purchased in October 2023 the House Price Index for TYNE AND WEAR was 24.4.
The House Price Index as of 1 Mar 2024 is 148.6 which is a change of 508.300%.Applying this 508.300% change to the original purchase price of £112,000 results in an estimated price of approximately £681,295.
| 13 Oct 2023 | 1 Mar 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 24.4 | 148.6 | 508.300 % | £112,000 | £569,295 | £681,295 |
The Postcode Pricing Model uses changes in average sales price within the NE9 postcode to calculate an estimated price.
The average sales price when the house was purchased is compared with the current average sales price.
This change is then applied to the initial purchase price to derive the current estimated price.
Three different estimates are shown, with averages drawn from 1 month, 3 month and 6 month timeframes.
The longer timeframes give less volatile estimates, but are not so timely.
More information on this model and the calculations
| Change % | Change £ | Estimated Price | |
| 1 Month Average | -10.423 % | £-11,673 | £100,326 |
| 3 Month Average | 9.736 % | £10,904 | £122,904 |
| 6 Month Average | 12.468 % | £13,964 | £125,964 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 9 Nov 2023 | £96,428 | £95,000 | 30 AYCLIFFE CRESCENT |
| 30 Aug 2023 | £61,538 | £61,000 | 110 SPRINGWELL ROAD |
| 17 Aug 2023 | £162,421 | £161,000 | 87 SPRINGWELL ROAD |
| 2 Aug 2023 | £47,415 | £47,000 | 7 WINGATE GARDENS |
| 3 Jul 2023 | £81,091 | £80,000 | 131 SPRINGWELL ROAD |
This house has a floor area of 73 sq meters or 785 sq feet when measured on 22 Dec 2015.
The average size of a house on LANCHESTER AVENUE is 94 sq meters (1,017 sq feet).
| Date | Crime | Outcome | Where |
|---|---|---|---|
| Feb 2024 | Other theft | Investigation complete; no suspect identified | On or near Medomsley Gardens |
| Mar 2024 | Violence and sexual offences | Under investigation | On or near Lanchester Avenue |
| Mar 2024 | Violence and sexual offences | Investigation complete; no suspect identified | On or near Lanchester Avenue |
| Mar 2024 | Violence and sexual offences | Investigation complete; no suspect identified | On or near Brandon Gardens |
| Mar 2024 | Anti-social behaviour | On or near Brandon Gardens |