This estimated value is based upon the latest sale price for the house of £14,000 on 20 May 2004. This value is then adjusted by the current Official House Price Index for LANCASHIRE1
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|£14,000||20 May 2004|
This model uses changes in the Official Land Registry House Price Index for LANCASHIRE to estimate the market value.
When this house was purchased in May 2004 the House Price Index for LANCASHIRE was 75.7.The House Price Index as of 1 Dec 2019 is 115.3 which is a change of 52.273%.
Applying this 52.273% change to the original purchase price of £14,000 gives us an estimated price now of around £21,318.
|20 May 2004||1 Dec 2019||% change||Purchase Price||Gain / Loss||Estimated Price|
The Postcode Pricing Model uses changes in average sales price within the BB11 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||223.570 %||£31,299||£45,299|
|3 Month Average||162.686 %||£22,776||£36,776|
|6 Month Average||154.818 %||£21,674||£35,674|