3, ORMESBY WAY, SPENNYMOOR, DL16 7FN - £292,500

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.

3 ORMESBY WAY is a very large detached house of 138m², built in 2014, which could now be worth an estimated £310,709. It was last sold for £292,500 in November 2022, which was around 31% above the average November 2022 detached price in the County Durham local authority area. The most recent EPC inspection was August 2022, where the current energy rating was B, and the potential energy rating was B.

3 ORMESBY WAY Sold Prices

Land registry data shows two sales for 3 ORMESBY WAY 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 3 ORMESBY WAY 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
2022 25 NOV	£292,500	£222,902	31% above HPI
2015 14 AUG	£232,995	£166,135	40% above HPI

3 ORMESBY WAY 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 3 ORMESBY WAY sales from August 2015 and November 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 August 2015 sale was for 40% above the HPI. So the extrapolation line tracks at 40% above the HPI over time, until the November 2022 sale, where it falls to 31% above the HPI. The line then continues to track at 31% above the HPI.

What might 3 ORMESBY WAY be worth now?

3 ORMESBY WAY might now be worth an estimated £310,709.

This is based on house price inflation of 6.2%, between November 2022 and March 2025, 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 6.2% inflationary increase is applied to the most recent sale price for 3 ORMESBY WAY of £292,500 on 25th November 2022. For the value to have increased from £292,500 to £310,709 over the three years and eight months to March 2025, the following assumptions must hold true:

• The value of 3 ORMESBY WAY has moved in line with the HPI for detached houses in the County Durham local authority area.
• The November 2022 sale price of £292,500 represented a fair market value for the property.
• The size, condition, and specification of 3 ORMESBY WAY has not materially changed since November 2022.

How Large is 3 ORMESBY WAY?

3 ORMESBY WAY is 138m² according to the EPC inspection conducted in August 2022. This puts it in the largest 20% 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 3 ORMESBY WAY lies on this distribution: 84% of detached houses houses are smaller than 3 ORMESBY WAY, and 15% of houses are larger. Note that EPC data is not available for all properties in Spennymoor.

3 ORMESBY WAY: Plot and Title Map

3 ORMESBY WAY sits on a plot of roughly 0.060 of an acre, or 243m². The below map shows the location of 3 ORMESBY WAY, 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 3 ORMESBY WAY). 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 3 ORMESBY WAY?

3 ORMESBY WAY is located in SPENNYMOOR, in the DL16 postcode district. The below map shows the position of No. 3 on ORMESBY WAY.