This estimated value is based upon the latest sale price for the house of £129,000 on 16 Feb 2018. This value is then adjusted by the current Official House Price Index for WEST MIDLANDS1
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|£129,000||16 Feb 2018|
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 February 2018 the House Price Index for WEST MIDLANDS was 122.3.The House Price Index as of 1 Dec 2019 is 131.2 which is a change of 7.306%.
Applying this 7.306% change to the original purchase price of £129,000 gives us an estimated price now of around £138,424.
|16 Feb 2018||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||-4.130 %||£-5,327||£123,672|
|3 Month Average||14.643 %||£18,889||£147,889|
|6 Month Average||7.627 %||£9,838||£138,838|
In this model we estimate the price by looking at how the average sale prices have changed since the house was purchased.
In February 2018 the average sale price for the 50 nearest sales within two miles of 128 LAKES ROAD was £130,148.
In September 2020 the average sale price for the 9 nearest sales was £209,248. This is a change of 60.777%.
So taking the original purchase price of £129,000 and adjusting it by 60.777% gives an estimated price of £207,402.
View a detailed breakdown on the calculations used for this estimate and guidelines on its accuracy.
|Average price on 16 Feb 2018||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|