MELITA, THREE GATES ROAD, COWES, PO31 7UH - £432,500

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.

MELITA is a small detached house of 93m², built sometime between 1967 and 1975, which could now be worth an estimated £407,213. It was last sold for £432,500 in November 2022, which was about the average November 2022 detached price in the Isle of Wight local authority area. The most recent EPC inspection was March 2017, where the current energy rating was D, and the potential energy rating was C.

MELITA Sold Prices

Land registry data shows two sales for MELITA 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. One of the two MELITA sales was roughly equal to the average price, whilst the other was 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
2022 8 NOV	£432,500	£432,397	Close to HPI
2017 25 MAY	£256,000	£295,296	13% below HPI

MELITA 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 MELITA sales from May 2017 and November 2022 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 May 2017 sale was for 13% below the HPI. So the extrapolation line tracks at 13% below the HPI over time, until the November 2022 sale, where it rises to roughly the same level as the HPI. The line then continues to track in line with the HPI.

What might MELITA be worth now?

MELITA might now be worth an estimated £407,213.

This is based on house price deflation of 5.8%, between November 2022 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 5.8% deflationary decrease is applied to the most recent sale price for MELITA of £432,500 on 8th November 2022. For the value to have decreased from £432,500 to £407,213 over the three years and nine months to February 2025, the following assumptions must hold true:

• The value of MELITA has moved in line with the HPI for detached houses in the Isle of Wight local authority area.
• The November 2022 sale price of £432,500 represented a fair market value for the property.
• The size, condition, and specification of MELITA has not materially changed since November 2022.

How Large is MELITA?

MELITA is 93m² according to the EPC inspection conducted in March 2017. This puts it in the smallest 40% of detached houses houses in Cowes, based on EPC data. The below chart shows the distribution of detached houses houses by size in Cowes, and where MELITA lies on this distribution: 33% of detached houses houses are smaller than MELITA, and 66% of houses are larger. Note that EPC data is not available for all properties in Cowes.

MELITA: Plot and Title Map

MELITA sits on a plot of roughly 0.168 of an acre, or 679m². The below map shows the location of MELITA, 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 MELITA). 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 MELITA?

MELITA is located on THREE GATES ROAD in COWES, in the PO31 postcode district. The below map shows the position of MELITA on THREE GATES ROAD.