£146,483
This estimated value is based upon the latest sale price for the house of £29,950 on 24 Oct 1997. This value is then adjusted by the current Official House Price Index for TYNE AND WEAR 1
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| Price Paid | Date |
|---|---|
| £29,950 | 24 Oct 1997 |
| Flats/Maisonettes |
| Leasehold |
| Floor Area: 62 sq meters or 667 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 October 1997 the House Price Index for TYNE AND WEAR was 30.0.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 389.093%.Applying this 389.093% change to the original purchase price of £29,950 results in an estimated price of approximately £146,483.
| 24 Oct 1997 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 30.0 | 146.7 | 389.093 % | £29,950 | £116,533 | £146,483 |
The Postcode Pricing Model uses changes in average sales price within the NE5 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 | 235.165 % | £70,432 | £100,382 |
| 3 Month Average | 234.493 % | £70,230 | £100,180 |
| 6 Month Average | 256.521 % | £76,827 | £106,777 |
This house has a floor area of 62 sq meters or 667 sq feet when measured on 15 Oct 2016.
The average size of a house on OVINGTON GROVE is 72 sq meters (785 sq feet).