MELVILLE LODGE, PARK AVENUE, VENTNOR, PO38 1LD - £670,000

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

MELVILLE LODGE is a very large extended detached house of 334m², built sometime before 1900. It was last sold for £670,000 in December 2015, which was around 134% above the average December 2015 detached price in the Isle of Wight local authority area. The most recent EPC inspection was June 2010, where the current energy rating was E, and the potential energy rating was E.

MELVILLE LODGE Sold Prices

Land registry data shows two sales for MELVILLE LODGE 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 MELVILLE LODGE sales were for above 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
2015 21 DEC	£670,000	£286,657	134% above HPI
2006 6 APR	£416,000	£238,655	74% above HPI

MELVILLE LODGE 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 MELVILLE LODGE sales from April 2006 and December 2015 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 April 2006 sale was for 74% above the HPI. So the extrapolation line tracks at 74% above the HPI over time, until the December 2015 sale, where it rises to 134% above the HPI. The line then continues to track at 134% above the HPI.

How Large is MELVILLE LODGE?

MELVILLE LODGE is 334m², which includes one extension, according to the EPC inspection conducted in June 2010. This puts it in the largest 10% of detached houses in Ventnor, based on EPC data. The below chart shows the distribution of detached houses by size in Ventnor, and where MELVILLE LODGE lies on this distribution: 99% of detached houses are smaller than MELVILLE LODGE, and 1% of houses are larger. Note that EPC data is not available for all properties in Ventnor.

MELVILLE LODGE: Plot and Title Map

MELVILLE LODGE sits on a plot of roughly 0.238 of an acre, or 962m². The below map shows the location of MELVILLE LODGE, 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 MELVILLE LODGE). 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 MELVILLE LODGE?

MELVILLE LODGE is located on PARK AVENUE in VENTNOR, in the PO38 postcode district. The below map shows the position of MELVILLE LODGE on PARK AVENUE.