7, WELLS CLOSE, HEATON WITH OXCLIFFE, MORECAMBE, LA3 3RS - £336,500

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

7 WELLS CLOSE is a large detached house of 122m², built sometime between 1996 and 2002, which could now be worth an estimated £336,284. It was last sold for £336,500 in August 2024, which was around 1% above the average August 2024 detached price in the Lancaster local authority area. The most recent EPC inspection was November 2009, where the current energy rating was D, and the potential energy rating was C.

7 WELLS CLOSE Sold Prices

Land registry data shows five sales for 7 WELLS CLOSE since 1^st January 1995. The below table shows the price paid for the five sales, along with the average detached price in the Lancaster local authority area for the corresponding sale date. The five 7 WELLS CLOSE sales were a mix of above the average price, roughly equal to the average price, and 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
2024 16 AUG	£336,500	£334,241	1% above HPI
2021 15 MAR	£295,000	£284,417	4% above HPI
2016 11 FEB	£189,000	£229,986	18% below HPI
2007 29 JUN	£225,000	£224,009	Close to HPI
1997 26 SEP	£50,400	£79,034	36% below HPI

7 WELLS CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Lancaster local authority area over time, sourced from the HPI. The five 7 WELLS CLOSE sales between September 1997 and August 2024 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 2021 sale was for 4% above the HPI. So the extrapolation line tracks at 4% above the HPI over time, until the August 2024 sale, where it falls to 1% above the HPI. The line then continues to track at 1% above the HPI.

What might 7 WELLS CLOSE be worth now?

7 WELLS CLOSE might now be worth an estimated £336,284.

This is based on house price deflation of 0.1%, between August 2024 and February 2025, for detached houses, in the Lancaster local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 0.1% deflationary decrease is applied to the most recent sale price for 7 WELLS CLOSE of £336,500 on 16th August 2024. For the value to have decreased from £336,500 to £336,284 over the one year and six months to February 2025, the following assumptions must hold true:

• The value of 7 WELLS CLOSE has moved in line with the HPI for detached houses in the Lancaster local authority area.
• The August 2024 sale price of £336,500 represented a fair market value for the property.
• The size, condition, and specification of 7 WELLS CLOSE has not materially changed since August 2024.

How Large is 7 WELLS CLOSE?

7 WELLS CLOSE is 122m² according to the EPC inspection conducted in November 2009. This puts it in the largest 40% of detached houses houses in Morecambe, based on EPC data. The below chart shows the distribution of detached houses houses by size in Morecambe, and where 7 WELLS CLOSE lies on this distribution: 69% of detached houses houses are smaller than 7 WELLS CLOSE, and 31% of houses are larger. Note that EPC data is not available for all properties in Morecambe.

7 WELLS CLOSE: Plot and Title Map

7 WELLS CLOSE sits on a plot of roughly 0.137 of an acre, or 556m². The below map shows the location of 7 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 7 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 7 WELLS CLOSE?

7 WELLS CLOSE is located in HEATON WITH OXCLIFFE, in the LA3 postcode district. The below map shows the position of No. 7 on WELLS CLOSE.