£5,853
This estimated value is based upon the latest sale price for the house of £4,500 on 14 Nov 2016. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
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| Price Paid | Date |
|---|---|
| £4,500 | 14 Nov 2016 |
| Freehold |
| Floor Area: 86 sq meters or 925 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 2016 the House Price Index for TYNE AND WEAR was 112.8.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 30.073%.Applying this 30.073% change to the original purchase price of £4,500 results in an estimated price of approximately £5,853.
| 14 Nov 2016 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 112.8 | 146.7 | 30.073 % | £4,500 | £1,353 | £5,853 |
The Postcode Pricing Model uses changes in average sales price within the NE29 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 | 7.011 % | £315 | £4,815 |
| 3 Month Average | 31.842 % | £1,432 | £5,932 |
| 6 Month Average | 34.304 % | £1,543 | £6,043 |
This house has a floor area of 86 sq meters or 925 sq feet when measured on 10 Sep 2013.