4, WITBANK CLOSE, SHANKLIN, PO37 7DQ - £280,000

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.

4 WITBANK CLOSE is a very small detached house of 70m², which could now be worth an estimated £322,122. It was last sold for £280,000 in November 2020, which was around 21% below the average November 2020 detached price in the Isle of Wight local authority area. The most recent EPC inspection was January 2017, where the current energy rating was B, and the potential energy rating was A.

4 WITBANK CLOSE Sold Prices

Land registry data shows two sales for 4 WITBANK 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 Isle of Wight local authority area for the corresponding sale date. Both of the two 4 WITBANK CLOSE 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
2020 19 NOV	£280,000	£353,880	21% below HPI
2017 21 MAR	£180,000	£292,880	39% below HPI

4 WITBANK CLOSE 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 two 4 WITBANK CLOSE sales from March 2017 and November 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 March 2017 sale was for 39% below the HPI. So the extrapolation line tracks at 39% below the HPI over time, until the November 2020 sale, where it rises to 21% below the HPI. The line then continues to track at 21% below the HPI.

What might 4 WITBANK CLOSE be worth now?

4 WITBANK CLOSE might now be worth an estimated £322,122.

This is based on house price inflation of 15%, between November 2020 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 15% inflationary increase is applied to the most recent sale price for 4 WITBANK CLOSE of £280,000 on 19th November 2020. For the value to have increased from £280,000 to £322,122 over the five years and nine months to February 2025, the following assumptions must hold true:

• The value of 4 WITBANK CLOSE has moved in line with the HPI for detached houses in the Isle of Wight local authority area.
• The November 2020 sale price of £280,000 represented a fair market value for the property.
• The size, condition, and specification of 4 WITBANK CLOSE has not materially changed since November 2020.

How Large is 4 WITBANK CLOSE?

4 WITBANK CLOSE is 70m² according to the EPC inspection conducted in January 2017. This puts it in the smallest 20% of detached houses houses in Shanklin, based on EPC data. The below chart shows the distribution of detached houses houses by size in Shanklin, and where 4 WITBANK CLOSE lies on this distribution: 11% of detached houses houses are smaller than 4 WITBANK CLOSE, and 89% of houses are larger. Note that EPC data is not available for all properties in Shanklin.

4 WITBANK CLOSE: Plot and Title Map

4 WITBANK CLOSE sits on a plot of roughly 0.105 of an acre, or 425m². The below map shows the location of 4 WITBANK 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 4 WITBANK 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 4 WITBANK CLOSE?

4 WITBANK CLOSE is located in SHANKLIN, in the PO37 postcode district. The below map shows the position of No. 4 on WITBANK CLOSE.