8, OFFWELL CLOSE, REDDITCH, B98 0FJ - £355,000

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

8 OFFWELL CLOSE is a small extended detached house of 99m², built sometime between 1991 and 1995. It was last sold for £355,000 in May 2023, which was around 14% below the average May 2023 detached price in the Redditch local authority area. The most recent EPC inspection was October 2022, where the current energy rating was D, and the potential energy rating was C.

8 OFFWELL CLOSE Sold Prices

Land registry data shows three sales for 8 OFFWELL CLOSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Redditch local authority area for the corresponding sale date. All of the three 8 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
2023 31 MAY	£355,000	£410,979	14% below HPI
2004 22 DEC	£183,000	£235,590	22% below HPI
1999 26 MAR	£94,500	£102,419	8% below HPI

8 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 three 8 OFFWELL CLOSE sales between March 1999 and May 2023 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 December 2004 sale was for 22% below the HPI. So the extrapolation line tracks at 22% below the HPI over time, until the May 2023 sale, where it rises to 14% below the HPI. The line then continues to track at 14% below the HPI.

How Large is 8 OFFWELL CLOSE?

8 OFFWELL CLOSE is 99m², which includes one extension, according to the EPC inspection conducted in October 2022. This puts it in the smallest 40% of detached houses in Redditch, based on EPC data. The below chart shows the distribution of detached houses by size in Redditch, and where 8 OFFWELL CLOSE lies on this distribution: 33% of detached houses are smaller than 8 OFFWELL CLOSE, and 66% of houses are larger. Note that EPC data is not available for all properties in Redditch.

8 OFFWELL CLOSE: Plot and Title Map

8 OFFWELL CLOSE sits on a plot of roughly 0.056 of an acre, or 227m². The below map shows the location of 8 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 8 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 8 OFFWELL CLOSE?

8 OFFWELL CLOSE is located in REDDITCH, in the B98 postcode district. The below map shows the position of No. 8 on OFFWELL CLOSE.