40, FARADAY CLOSE, SPENNYMOOR, DL16 7UY - £130,000

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.

40 FARADAY CLOSE is a very small semi-detached house of 77m², built in 2014, which could now be worth an estimated £177,815. It was last sold for £130,000 in August 2017, which was around 29% above the average August 2017 semi-detached price in the County Durham local authority area. The most recent EPC inspection was September 2014, where the current energy rating was B, and the potential energy rating was A.

40 FARADAY CLOSE Sold Prices

Land registry data shows two sales for 40 FARADAY CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average semi-detached price in the County Durham local authority area for the corresponding sale date. Both of the two 40 FARADAY CLOSE sales were for above 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
2017 25 AUG	£130,000	£100,881	29% above HPI
2014 25 JUL	£133,995	£95,140	41% above HPI

40 FARADAY CLOSE Price Paid vs. HPI Average

The below graph shows the average semi-detached house price in the County Durham local authority area over time, sourced from the HPI. The two 40 FARADAY CLOSE sales from July 2014 and August 2017 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 July 2014 sale was for 41% above the HPI. So the extrapolation line tracks at 41% above the HPI over time, until the August 2017 sale, where it falls to 29% above the HPI. The line then continues to track at 29% above the HPI.

What might 40 FARADAY CLOSE be worth now?

40 FARADAY CLOSE might now be worth an estimated £177,815.

This is based on house price inflation of 36.8%, between August 2017 and May 2026, for semi-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 36.8% inflationary increase is applied to the most recent sale price for 40 FARADAY CLOSE of £130,000 on 25th August 2017. For the value to have increased from £130,000 to £177,815 over the nine years and three months to May 2026, the following assumptions must hold true:

• The value of 40 FARADAY CLOSE has moved in line with the HPI for semi-detached houses in the County Durham local authority area.
• The August 2017 sale price of £130,000 represented a fair market value for the property.
• The size, condition, and specification of 40 FARADAY CLOSE has not materially changed since August 2017.

How Large is 40 FARADAY CLOSE?

40 FARADAY CLOSE is 77m² according to the EPC inspection conducted in September 2014. This puts it in the smallest 10% of semi-detached houses houses in Spennymoor, based on EPC data. The below chart shows the distribution of semi-detached houses houses by size in Spennymoor, and where 40 FARADAY CLOSE lies on this distribution: 8% of semi-detached houses houses are smaller than 40 FARADAY CLOSE, and 91% of houses are larger. Note that EPC data is not available for all properties in Spennymoor.

40 FARADAY CLOSE: Plot and Title Map

40 FARADAY CLOSE sits on a plot of roughly 0.045 of an acre, or 183m². The below map shows the location of 40 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 40 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 40 FARADAY CLOSE?

40 FARADAY CLOSE is located in SPENNYMOOR, in the DL16 postcode district. The below map shows the position of No. 40 on FARADAY CLOSE.