2, FARADAY CLOSE, SPENNYMOOR, DL16 7UY - £149,995

The information on this page is based on a number of underlying datasets, most of which are updated monthly. We maintain an update schedule which explains which version of each dataset we are currently relying on.

2 FARADAY CLOSE is a very small detached house of 77m², built in 2013, which could now be worth an estimated £200,843. It was last sold for £149,995 in July 2018, which was around 14% below the average July 2018 detached price in the County Durham local authority area. The most recent EPC inspection was November 2017, where the current energy rating was B, and the potential energy rating was A.

2 FARADAY CLOSE Sold Prices

Land registry data shows two sales for 2 FARADAY CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the County Durham local authority area for the corresponding sale date. Both of the two 2 FARADAY CLOSE sales were for below the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2018 31 JUL	£149,995	£175,020	14% below HPI
2013 18 DEC	£148,000	£160,036	8% below HPI

2 FARADAY CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the County Durham local authority area over time, sourced from the HPI. The two 2 FARADAY CLOSE sales from December 2013 and July 2018 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the December 2013 sale was for 8% below the HPI. So the extrapolation line tracks at 8% below the HPI over time, until the July 2018 sale, where it falls to 14% below the HPI. The line then continues to track at 14% below the HPI.

What might 2 FARADAY CLOSE be worth now?

2 FARADAY CLOSE might now be worth an estimated £200,843.

This is based on house price inflation of 33.9%, between July 2018 and May 2026, for detached houses, in the County Durham local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 33.9% inflationary increase is applied to the most recent sale price for 2 FARADAY CLOSE of £149,995 on 31st July 2018. For the value to have increased from £149,995 to £200,843 over the eight years and two months to May 2026, the following assumptions must hold true:

• The value of 2 FARADAY CLOSE has moved in line with the HPI for detached houses in the County Durham local authority area.
• The July 2018 sale price of £149,995 represented a fair market value for the property.
• The size, condition, and specification of 2 FARADAY CLOSE has not materially changed since July 2018.

How Large is 2 FARADAY CLOSE?

2 FARADAY CLOSE is 77m² according to the EPC inspection conducted in November 2017. This puts it in the smallest 10% of detached houses houses in Spennymoor, based on EPC data. The below chart shows the distribution of detached houses houses by size in Spennymoor, and where 2 FARADAY CLOSE lies on this distribution: 8% of detached houses houses are smaller than 2 FARADAY CLOSE, and 91% of houses are larger. Note that EPC data is not available for all properties in Spennymoor.

2 FARADAY CLOSE: Plot and Title Map

2 FARADAY CLOSE sits on a plot of roughly 0.052 of an acre, or 211m². The below map shows the location of 2 FARADAY CLOSE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 2 FARADAY CLOSE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 2 FARADAY CLOSE?

2 FARADAY CLOSE is located in SPENNYMOOR, in the DL16 postcode district. The below map shows the position of No. 2 on FARADAY CLOSE.