£114,097
This estimated value is based upon the latest sale price for the house of £108,000 on 18 Feb 2022. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
There have been two burglaries within the last year on or near Well Lane
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| Price Paid | Date |
|---|---|
| £108,000 | 18 Feb 2022 |
| £115,000 | 9 Mar 2006 |
| £82,000 | 12 Nov 2002 |
| £62,000 | 22 Dec 2000 |
| Flats/Maisonettes |
| Leasehold |
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 February 2022 the House Price Index for TYNE AND WEAR was 141.7.
The House Price Index as of 1 May 2024 is 149.7 which is a change of 5.646%.Applying this 5.646% change to the original purchase price of £108,000 results in an estimated price of approximately £114,097.
| 18 Feb 2022 | 1 May 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 141.7 | 149.7 | 5.646 % | £108,000 | £6,097 | £114,097 |
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 | 13.122 % | £14,171 | £122,171 |
| 3 Month Average | 13.325 % | £14,390 | £122,390 |
| 6 Month Average | 9.159 % | £9,892 | £117,892 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 3 Nov 2023 | £200,079 | £195,000 | 5 THE WAREHOUSE WELL LANE |
| 9 Jun 2023 | £106,127 | £104,000 | 1 EARLS DRIVE |
| 30 Mar 2023 | £96,613 | £95,000 | 40 FORSTER COURT |
| 17 Mar 2023 | £106,783 | £105,000 | 21 FORSTER COURT |
| 16 Feb 2023 | £159,063 | £158,000 | 18 EARLS DRIVE |
| Date | Crime | Outcome | Where |
|---|---|---|---|
| Aug 2024 | Burglary | Suspect charged as part of another case | On or near Well Lane |
| Jul 2024 | Burglary | Suspect charged as part of another case | On or near Well Lane |
| Jul 2024 | Violence and sexual offences | Under investigation | On or near Well Lane |
| Jul 2024 | Criminal damage and arson | Under investigation | On or near Well Lane |
| Sep 2024 | Burglary | Investigation complete; no suspect identified | On or near Albert Drive |