£70,407
This estimated value is based upon the latest sale price for the house of £14,500 on 5 Nov 1997. This value is then adjusted by the current Official House Price Index for GREATER MANCHESTER 1
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| Price Paid | Date |
|---|---|
| £14,500 | 5 Nov 1997 |
| Semi-Detached |
| Leasehold |
| Floor Area: 76 sq meters or 818 sq feet |
This model uses changes in the Official Land Registry House Price Index for GREATER MANCHESTER to estimate the market value.
When this house was purchased in November 1997 the House Price Index for GREATER MANCHESTER was 30.2.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 385.566%.Applying this 385.566% change to the original purchase price of £14,500 results in an estimated price of approximately £70,407.
| 5 Nov 1997 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 30.2 | 146.7 | 385.566 % | £14,500 | £55,907 | £70,407 |
The Postcode Pricing Model uses changes in average sales price within the OL8 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 | 302.400 % | £43,847 | £58,347 |
| 3 Month Average | 274.348 % | £39,780 | £54,280 |
| 6 Month Average | 272.327 % | £39,487 | £53,987 |
This house has a floor area of 76 sq meters or 818 sq feet when measured on 2 Apr 2015.
The average size of a house on REINS LEE AVENUE is 80 sq meters (867 sq feet).