7, OFFWELL CLOSE, REDDITCH, B98 0FJ - £265,000

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

7 OFFWELL CLOSE is a very small detached house of 88m², built sometime between 1996 and 2002. It was last sold for £265,000 in January 2020, which was around 21% below the average January 2020 detached price in the Redditch local authority area. The most recent EPC inspection was November 2019, where the current energy rating was D, and the potential energy rating was B.

7 OFFWELL CLOSE Sold Prices

Land registry data shows four sales for 7 OFFWELL CLOSE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the Redditch local authority area for the corresponding sale date. All of the four 7 OFFWELL 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 6 JAN	£265,000	£333,819	21% below HPI
2001 5 OCT	£127,000	£146,517	13% below HPI
2000 24 AUG	£107,000	£126,173	15% below HPI
1999 5 FEB	£94,500	£102,877	8% below HPI

7 OFFWELL CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Redditch local authority area over time, sourced from the HPI. The four 7 OFFWELL CLOSE sales between February 1999 and January 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 October 2001 sale was for 13% below the HPI. So the extrapolation line tracks at 13% below the HPI over time, until the January 2020 sale, where it falls to 21% below the HPI. The line then continues to track at 21% below the HPI.

How Large is 7 OFFWELL CLOSE?

7 OFFWELL CLOSE is 88m² according to the EPC inspection conducted in November 2019. This puts it in the smallest 20% of detached houses in Redditch, based on EPC data. The below chart shows the distribution of detached houses by size in Redditch, and where 7 OFFWELL CLOSE lies on this distribution: 20% of detached houses are smaller than 7 OFFWELL CLOSE, and 79% of houses are larger. Note that EPC data is not available for all properties in Redditch.

7 OFFWELL CLOSE: Plot and Title Map

7 OFFWELL CLOSE sits on a plot of roughly 0.054 of an acre, or 218m². The below map shows the location of 7 OFFWELL 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 7 OFFWELL 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 7 OFFWELL CLOSE?

7 OFFWELL CLOSE is located in REDDITCH, in the B98 postcode district. The below map shows the position of No. 7 on OFFWELL CLOSE.