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

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

MELITA is a small detached house of 93m², built sometime between 1967 and 1975. It was last sold for £432,500 in November 2022, which was around 2% below 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. Both of the two MELITA 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
2022 8 NOV	£432,500	£441,602	2% below HPI
2017 25 MAY	£256,000	£301,582	15% 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 15% below the HPI. So the extrapolation line tracks at 15% below the HPI over time, until the November 2022 sale, where it rises to 2% below the HPI. The line then continues to track at 2% below the HPI.

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 in Cowes, based on EPC data. The below chart shows the distribution of detached houses by size in Cowes, and where MELITA lies on this distribution: 34% of detached houses are smaller than MELITA, and 65% 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.