54, SPELVIT LANE, MORPETH, NE61 2AB - £198,000

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.

54 SPELVIT LANE is a very small extended terraced house of 61m², built sometime between 1950 and 1966, which could now be worth an estimated £283,089. It was last sold for £198,000 in June 2020, which was around 68% above the average June 2020 terraced price in the Northumberland local authority area. The most recent EPC inspection was February 2019, where the current energy rating was D, and the potential energy rating was C.

54 SPELVIT LANE Sold Prices

Land registry data shows three sales for 54 SPELVIT LANE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average terraced price in the Northumberland local authority area for the corresponding sale date. All of the three 54 SPELVIT LANE 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
2020 15 JUN	£198,000	£118,092	68% above HPI
2007 7 AUG	£179,000	£127,047	41% above HPI
2006 10 MAR	£129,000	£110,059	17% above HPI

54 SPELVIT LANE Price Paid vs. HPI Average

The below graph shows the average terraced house price in the Northumberland local authority area over time, sourced from the HPI. The three 54 SPELVIT LANE sales between March 2006 and June 2020 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 August 2007 sale was for 41% above the HPI. So the extrapolation line tracks at 41% above the HPI over time, until the June 2020 sale, where it rises to 68% above the HPI. The line then continues to track at 68% above the HPI.

What might 54 SPELVIT LANE be worth now?

54 SPELVIT LANE might now be worth an estimated £283,089.

This is based on house price inflation of 43%, between June 2020 and May 2026, for terraced houses, in the Northumberland local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 43% inflationary increase is applied to the most recent sale price for 54 SPELVIT LANE of £198,000 on 15th June 2020. For the value to have increased from £198,000 to £283,089 over the six years and one month to May 2026, the following assumptions must hold true:

• The value of 54 SPELVIT LANE has moved in line with the HPI for terraced houses in the Northumberland local authority area.
• The June 2020 sale price of £198,000 represented a fair market value for the property.
• The size, condition, and specification of 54 SPELVIT LANE has not materially changed since June 2020.

How Large is 54 SPELVIT LANE?

54 SPELVIT LANE is 61m², which includes one extension, according to the EPC inspection conducted in February 2019. This puts it in the smallest 10% of terraced houses houses in Morpeth, based on EPC data. The below chart shows the distribution of terraced houses houses by size in Morpeth, and where 54 SPELVIT LANE lies on this distribution: 2% of terraced houses houses are smaller than 54 SPELVIT LANE, and 98% of houses are larger. Note that EPC data is not available for all properties in Morpeth.

54 SPELVIT LANE: Plot and Title Map

54 SPELVIT LANE sits on a plot of roughly 0.059 of an acre, or 239m². The below map shows the location of 54 SPELVIT LANE, 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 54 SPELVIT LANE). 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 54 SPELVIT LANE?

54 SPELVIT LANE is located in MORPETH, in the NE61 postcode district. The below map shows the position of No. 54 on SPELVIT LANE.