£60,397
This estimated value is based upon the latest sale price for the house of £50,000 on 21 Aug 2020. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
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| Price Paid | Date |
|---|---|
| £50,000 | 21 Aug 2020 |
| Freehold |
| Floor Area: 72 sq meters or 775 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 August 2020 the House Price Index for TYNE AND WEAR was 123.9.
The House Price Index as of 1 May 2024 is 149.7 which is a change of 20.794%.Applying this 20.794% change to the original purchase price of £50,000 results in an estimated price of approximately £60,397.
| 21 Aug 2020 | 1 May 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 123.9 | 149.7 | 20.794 % | £50,000 | £10,397 | £60,397 |
The Postcode Pricing Model uses changes in average sales price within the NE4 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 | 81.648 % | £40,824 | £90,824 |
| 3 Month Average | 37.704 % | £18,852 | £68,852 |
| 6 Month Average | 22.974 % | £11,486 | £61,486 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 2 May 2024 | £300,000 | £300,000 | 72 WEST ROAD |
| 18 Apr 2024 | £50,438 | £50,000 | 219 FARNDALE ROAD |
| 18 Apr 2024 | £50,438 | £50,000 | 217 FARNDALE ROAD |
| 14 Sep 2023 | £55,217 | £54,000 | 232 ELLESMERE ROAD |
| 9 Jun 2023 | £78,575 | £77,000 | 235 ELLESMERE ROAD |
This house has a floor area of 72 sq meters or 775 sq feet when measured on 14 Feb 2020. Using an estimated price of £60,397 means this house is valued at £838 per sq meter (£77 per sq foot).
The average size of a house on FARNDALE ROAD is 81 sq meters (878 sq feet).