£96,158
This estimated value is based upon the latest sale price for the house of £63,000 on 9 May 2014. This value is then adjusted by the current Official House Price Index for DURHAM 1
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| Price Paid | Date |
|---|---|
| £63,000 | 9 May 2014 |
| £41,950 | 24 Jan 2003 |
| Terraced |
| Freehold |
| Floor Area: 60 sq meters or 645 sq feet |
This model uses changes in the Official Land Registry House Price Index for DURHAM to estimate the market value.
When this house was purchased in May 2014 the House Price Index for DURHAM was 96.1.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 52.632%.Applying this 52.632% change to the original purchase price of £63,000 results in an estimated price of approximately £96,158.
| 9 May 2014 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 96.1 | 146.7 | 52.632 % | £63,000 | £33,158 | £96,158 |
The Postcode Pricing Model uses changes in average sales price within the DH4 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 | -13.812 % | £-8,701 | £54,298 |
| 3 Month Average | 8.064 % | £5,080 | £68,080 |
| 6 Month Average | 8.505 % | £5,358 | £68,358 |
This house has a floor area of 60 sq meters or 645 sq feet when measured on 17 Oct 2014.
The average size of a house on IRIS TERRACE is 97 sq meters (1,044 sq feet).