£98,996
This estimated value is based upon the latest sale price for the house of £77,950 on 21 Nov 2017. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
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| Price Paid | Date |
|---|---|
| £77,950 | 21 Nov 2017 |
| £21,750 | 20 Jun 1997 |
| Terraced |
| Freehold |
| Floor Area: 85 sq meters or 914 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 November 2017 the House Price Index for TYNE AND WEAR was 117.9.
The House Price Index as of 1 May 2024 is 149.7 which is a change of 27.000%.Applying this 27.000% change to the original purchase price of £77,950 results in an estimated price of approximately £98,996.
| 21 Nov 2017 | 1 May 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 117.9 | 149.7 | 27.000 % | £77,950 | £21,046 | £98,996 |
The Postcode Pricing Model uses changes in average sales price within the SR3 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 | 8.245 % | £6,426 | £84,376 |
| 3 Month Average | -0.329 % | £-256 | £77,693 |
| 6 Month Average | 7.447 % | £5,804 | £83,754 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 3 Oct 2023 | £110,510 | £108,000 | 1 SHAFTOE SQUARE |
| 29 Sep 2023 | £122,705 | £120,000 | 12 SPRINGBANK SQUARE |
| 24 Mar 2023 | £139,327 | £137,000 | 8 SHAFTOE ROAD |
| 27 Feb 2023 | £115,773 | £115,000 | 12 TORONTO SQUARE |
| 27 Jan 2023 | £105,281 | £105,000 | 3 SEATON ROAD |
This house has a floor area of 85 sq meters or 914 sq feet when measured on 17 Jul 2017. Using an estimated price of £98,997 means this house is valued at £1,164 per sq meter (£108 per sq foot).
The average size of a house on GRINDON LANE is 77 sq meters (835 sq feet).