FORGE COTTAGE, WARK, HEXHAM, NE48 3LS - £240,000

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.

FORGE COTTAGE is a very small extended detached house of 80m², built sometime between 2003 and 2006, which could now be worth an estimated £331,095. It was last sold for £240,000 in November 2017, which was around 8% below the average November 2017 detached price in the Northumberland local authority area. The most recent EPC inspection was June 2017, where the current energy rating was D, and the potential energy rating was C.

FORGE COTTAGE Sold Prices

Land registry data shows three sales for FORGE COTTAGE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Northumberland local authority area for the corresponding sale date. All of the three FORGE COTTAGE 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
2017 2 NOV	£240,000	£260,799	8% below HPI
2007 30 AUG	£218,000	£270,653	19% below HPI
2007 28 FEB	£218,000	£253,993	14% below HPI

FORGE COTTAGE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Northumberland local authority area over time, sourced from the HPI. The three FORGE COTTAGE sales between February 2007 and November 2017 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 2007 sale was for 19% below the HPI. So the extrapolation line tracks at 19% below the HPI over time, until the November 2017 sale, where it rises to 8% below the HPI. The line then continues to track at 8% below the HPI.

What might FORGE COTTAGE be worth now?

FORGE COTTAGE might now be worth an estimated £331,095.

This is based on house price inflation of 38%, between November 2017 and February 2025, for detached houses, in the Northumberland local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 38% inflationary increase is applied to the most recent sale price for FORGE COTTAGE of £240,000 on 2nd November 2017. For the value to have increased from £240,000 to £331,095 over the eight years and nine months to February 2025, the following assumptions must hold true:

• The value of FORGE COTTAGE has moved in line with the HPI for detached houses in the Northumberland local authority area.
• The November 2017 sale price of £240,000 represented a fair market value for the property.
• The size, condition, and specification of FORGE COTTAGE has not materially changed since November 2017.

How Large is FORGE COTTAGE?

FORGE COTTAGE is 80m², which includes one extension, according to the EPC inspection conducted in June 2017. This puts it in the smallest 10% of detached houses houses in Wark, based on EPC data. The below chart shows the distribution of detached houses houses by size in Wark, and where FORGE COTTAGE lies on this distribution: 10% of detached houses houses are smaller than FORGE COTTAGE, and 90% of houses are larger. Note that EPC data is not available for all properties in Wark.

FORGE COTTAGE: Plot and Title Map

FORGE COTTAGE sits on a plot of roughly 10.3 acres, or 41,635m². The below map shows the location of FORGE COTTAGE, 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 FORGE COTTAGE). 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 FORGE COTTAGE?

FORGE COTTAGE is located in WARK, in the NE48 postcode district. The below map shows the position of FORGE COTTAGE in WARK.