£180,094
This estimated value is based upon the latest sale price for the house of £128,000 on 30 Oct 2015. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
There has been one burglary within the last year on or near Well Lane
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| Price Paid | Date |
|---|---|
| £128,000 | 30 Oct 2015 |
| £121,750 | 23 Dec 2011 |
| £115,500 | 8 Jul 2009 |
| Flats/Maisonettes |
| Leasehold |
| Floor Area: 60 sq meters or 645 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 2015 the House Price Index for TYNE AND WEAR was 105.6.
The House Price Index as of 1 Mar 2024 is 148.6 which is a change of 40.699%.Applying this 40.699% change to the original purchase price of £128,000 results in an estimated price of approximately £180,094.
| 30 Oct 2015 | 1 Mar 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 105.6 | 148.6 | 40.699 % | £128,000 | £52,094 | £180,094 |
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 | 3.239 % | £4,145 | £132,145 |
| 3 Month Average | 17.503 % | £22,403 | £150,403 |
| 6 Month Average | 19.239 % | £24,625 | £152,625 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 3 Nov 2023 | £197,930 | £195,000 | 5 THE WAREHOUSE WELL LANE |
| 27 Jun 2023 | £86,042 | £85,000 | 537 DURHAM ROAD |
| 27 Jun 2023 | £151,839 | £150,000 | 541 - 543 DURHAM ROAD |
| 30 Mar 2023 | £95,904 | £95,000 | 40 FORSTER COURT |
| 17 Mar 2023 | £105,999 | £105,000 | 21 FORSTER COURT |
This house has a floor area of 60 sq meters or 645 sq feet when measured on 12 Dec 2018. Using an estimated price of £180,094 means this house is valued at £3,001 per sq meter (£278 per sq foot).
The average size of a house on WELL LANE is 111 sq meters (1,202 sq feet).
| Date | Crime | Outcome | Where |
|---|---|---|---|
| Apr 2024 | Violence and sexual offences | Investigation complete; no suspect identified | On or near Well Lane |
| Apr 2024 | Burglary | Investigation complete; no suspect identified | On or near Well Lane |
| Feb 2024 | Anti-social behaviour | On or near Well Lane | |
| Feb 2024 | Anti-social behaviour | On or near Well Lane | |
| Feb 2024 | Anti-social behaviour | On or near Well Lane |