This estimated value is based upon the latest sale price for the house of £122,000 on 26 May 2017. This value is then adjusted by the current Official House Price Index for WEST MIDLANDS1
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|£122,000||26 May 2017|
This model uses changes in the Official Land Registry House Price Index for WEST MIDLANDS to estimate the market value.
When this house was purchased in May 2017 the House Price Index for WEST MIDLANDS was 115.4.The House Price Index as of 1 Dec 2019 is 131.2 which is a change of 13.687%.
Applying this 13.687% change to the original purchase price of £122,000 gives us an estimated price now of around £138,698.
|26 May 2017||1 Dec 2019||% change||Purchase Price||Gain / Loss||Estimated Price|
The Postcode Pricing Model uses changes in average sales price within the B23 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||0.195 %||£238||£122,238|
|3 Month Average||15.901 %||£19,399||£141,399|
|6 Month Average||16.569 %||£20,214||£142,214|
In this model we estimate the price by looking at how the average sale prices have changed since the house was purchased.
In May 2017 the average sale price for the 50 nearest sales within two miles of 126 LAKES ROAD was £117,560.
In September 2020 the average sale price for the 9 nearest sales was £209,247. This is a change of 77.992%.
So taking the original purchase price of £122,000 and adjusting it by 77.992% gives an estimated price of £217,150.
View a detailed breakdown on the calculations used for this estimate and guidelines on its accuracy.
|Average price on 26 May 2017||Average price on 29 Sep 2020||% change||Purchase Price||Gain / Loss||Estimated Price|
|Date||Current Estimated Value||Price Paid||Address|
|25 Oct 2019||£140,714||£140,000||110 GIPSY LANE|
|25 Oct 2019||£125,638||£125,000||67 ERCALL CLOSE|
|5 Jul 2019||£151,597||£148,500||62 ERCALL CLOSE|
|4 Jul 2019||£110,252||£108,000||215 THE RIDGEWAY|
|28 Jun 2019||£136,275||£133,000||213 THE RIDGEWAY|