2, WELLS CLOSE, SOUTH SCARLE, NEWARK, NG23 7JU - £315,000

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 WELLS CLOSE is a large detached house of 184m², built sometime between 2003 and 2006, which could now be worth an estimated £522,046. It was last sold for £315,000 in December 2009, which was around 48% above the average December 2009 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was November 2008, where the current energy rating was D, and the potential energy rating was C.

2 WELLS CLOSE Sold Prices

Land registry data shows two sales for 2 WELLS 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 Newark and Sherwood local authority area for the corresponding sale date. One of the two 2 WELLS CLOSE sales was for above the average price, whilst the other was 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
2009 4 DEC	£315,000	£212,391	48% above HPI
2000 10 JAN	£51,267	£93,915	45% below HPI

2 WELLS CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Newark and Sherwood local authority area over time, sourced from the HPI. The two 2 WELLS CLOSE sales from January 2000 and December 2009 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 January 2000 sale was for 45% below the HPI. So the extrapolation line tracks at 45% below the HPI over time, until the December 2009 sale, where it rises to 48% above the HPI. The line then continues to track at 48% above the HPI.

What might 2 WELLS CLOSE be worth now?

2 WELLS CLOSE might now be worth an estimated £522,046.

This is based on house price inflation of 65.7%, between December 2009 and February 2025, for detached houses, in the Newark and Sherwood local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 65.7% inflationary increase is applied to the most recent sale price for 2 WELLS CLOSE of £315,000 on 4th December 2009. For the value to have increased from £315,000 to £522,046 over the sixteen years and ten months to February 2025, the following assumptions must hold true:

• The value of 2 WELLS CLOSE has moved in line with the HPI for detached houses in the Newark and Sherwood local authority area.
• The December 2009 sale price of £315,000 represented a fair market value for the property.
• The size, condition, and specification of 2 WELLS CLOSE has not materially changed since December 2009.

How Large is 2 WELLS CLOSE?

2 WELLS CLOSE is 184m² according to the EPC inspection conducted in November 2008. This puts it in the largest 30% of detached houses houses in South Scarle, based on EPC data. The below chart shows the distribution of detached houses houses by size in South Scarle, and where 2 WELLS CLOSE lies on this distribution: 70% of detached houses houses are smaller than 2 WELLS CLOSE, and 30% of houses are larger. Note that EPC data is not available for all properties in South Scarle.

2 WELLS CLOSE: Plot and Title Map

2 WELLS CLOSE sits on a plot of roughly 0.213 of an acre, or 864m². The below map shows the location of 2 WELLS 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 WELLS 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 WELLS CLOSE?

2 WELLS CLOSE is located in SOUTH SCARLE, in the NG23 postcode district. The below map shows the position of No. 2 on WELLS CLOSE.