£399,036
This estimated value is based upon the latest sale price for the house of £330,000 on 24 Jul 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 |
|---|---|
| £330,000 | 24 Jul 2020 |
| £212,055 | 5 Aug 2016 |
| Detached |
| Freehold |
| Floor Area: 199 sq meters or 2,142 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 July 2020 the House Price Index for TYNE AND WEAR was 122.9.
The House Price Index as of 1 Mar 2024 is 148.6 which is a change of 20.920%.Applying this 20.920% change to the original purchase price of £330,000 results in an estimated price of approximately £399,036.
| 24 Jul 2020 | 1 Mar 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 122.9 | 148.6 | 20.920 % | £330,000 | £69,036 | £399,036 |
The Postcode Pricing Model uses changes in average sales price within the NE38 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 | 201.411 % | £664,654 | £994,654 |
| 3 Month Average | 30.021 % | £99,068 | £429,068 |
| 6 Month Average | 42.417 % | £139,974 | £469,974 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 28 Nov 2023 | £234,471 | £231,000 | 93 RICHMOND AVENUE |
| 15 Nov 2023 | £134,999 | £133,000 | 129 SPOUT LANE |
| 6 Jan 2023 | £99,531 | £100,000 | 123 SPOUT LANE |
| 27 Sep 2022 | £143,838 | £145,000 | 127 SPOUT LANE |
| 19 Aug 2022 | £131,646 | £132,000 | 131 SPOUT LANE |
This house has a floor area of 199 sq meters or 2,142 sq feet when measured on 8 Jan 2020. Using an estimated price of £399,037 means this house is valued at £2,005 per sq meter (£186 per sq foot).
The average size of a house on SPOUT LANE is 123 sq meters (1,326 sq feet).
This house is the largest in the street with a floor area of 199 sq meters (2,142 sq feet).