2, REDLAKE ROAD, FRESHWATER, PO40 9DD - £290,000

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.

2 REDLAKE ROAD is a small detached house of 78m², built sometime between 1930 and 1949, which could now be worth an estimated £294,240. It was last sold for £290,000 in April 2022, which was around 28% below the average April 2022 detached price in the Isle of Wight local authority area. The most recent EPC inspection was June 2021, where the current energy rating was D, and the potential energy rating was B.

2 REDLAKE ROAD Sold Prices

Land registry data shows three sales for 2 REDLAKE ROAD since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Isle of Wight local authority area for the corresponding sale date. All of the three 2 REDLAKE ROAD 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
2022 25 APR	£290,000	£401,250	28% below HPI
2021 30 SEP	£280,000	£364,282	23% below HPI
1995 23 FEB	£63,000	£67,904	7% below HPI

2 REDLAKE ROAD Price Paid vs. HPI Average

The below graph shows the average detached house price in the Isle of Wight local authority area over time, sourced from the HPI. The three 2 REDLAKE ROAD sales between February 1995 and April 2022 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 September 2021 sale was for 23% below the HPI. So the extrapolation line tracks at 23% below the HPI over time, until the April 2022 sale, where it falls to 28% below the HPI. The line then continues to track at 28% below the HPI.

What might 2 REDLAKE ROAD be worth now?

2 REDLAKE ROAD might now be worth an estimated £294,240.

This is based on house price inflation of 1.5%, between April 2022 and February 2025, for detached houses, in the Isle of Wight local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 1.5% inflationary increase is applied to the most recent sale price for 2 REDLAKE ROAD of £290,000 on 25th April 2022. For the value to have increased from £290,000 to £294,240 over the three years and two months to February 2025, the following assumptions must hold true:

• The value of 2 REDLAKE ROAD has moved in line with the HPI for detached houses in the Isle of Wight local authority area.
• The April 2022 sale price of £290,000 represented a fair market value for the property.
• The size, condition, and specification of 2 REDLAKE ROAD has not materially changed since April 2022.

How Large is 2 REDLAKE ROAD?

2 REDLAKE ROAD is 78m² according to the EPC inspection conducted in June 2021. This puts it in the smallest 30% of detached houses houses in Freshwater, based on EPC data. The below chart shows the distribution of detached houses houses by size in Freshwater, and where 2 REDLAKE ROAD lies on this distribution: 29% of detached houses houses are smaller than 2 REDLAKE ROAD, and 70% of houses are larger. Note that EPC data is not available for all properties in Freshwater.

2 REDLAKE ROAD: Plot and Title Map

2 REDLAKE ROAD sits on a plot of roughly 0.144 of an acre, or 584m². The below map shows the location of 2 REDLAKE ROAD, 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 REDLAKE ROAD). 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 REDLAKE ROAD?

2 REDLAKE ROAD is located in FRESHWATER, in the PO40 postcode district. The below map shows the position of No. 2 on REDLAKE ROAD.