MERRICOMBE, LACEYS LANE, NITON, VENTNOR, PO38 2DN - £375,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

MERRICOMBE is a midsized detached house of 97m², built sometime between 1967 and 1975. It was last sold for £375,000 in March 2023, which was around 12% below the average March 2023 detached price in the Isle of Wight local authority area. The most recent EPC inspection was January 2023, where the current energy rating was C, and the potential energy rating was B.

MERRICOMBE Sold Prices

Land registry data shows four sales for MERRICOMBE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the Isle of Wight local authority area for the corresponding sale date. two of the four MERRICOMBE sales were for below the average price, and four 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
2023 16 MAR	£375,000	£424,882	12% below HPI
2006 26 SEP	£305,000	£250,916	22% above HPI
2004 1 SEP	£240,000	£229,384	5% above HPI
1998 29 MAY	£79,000	£85,414	8% below HPI

MERRICOMBE 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 four MERRICOMBE sales between May 1998 and March 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 September 2006 sale was for 22% above the HPI. So the extrapolation line tracks at 22% above the HPI over time, until the March 2023 sale, where it falls to 12% below the HPI. The line then continues to track at 12% below the HPI.

How Large is MERRICOMBE?

MERRICOMBE is 97m² according to the EPC inspection conducted in January 2023. This puts it in the smallest 50% of detached houses in Niton, based on EPC data. The below chart shows the distribution of detached houses by size in Niton, and where MERRICOMBE lies on this distribution: 49% of detached houses are smaller than MERRICOMBE, and 51% of houses are larger. Note that EPC data is not available for all properties in Niton.

MERRICOMBE: Plot and Title Map

MERRICOMBE sits on a plot of roughly 0.177 of an acre, or 717m². The below map shows the location of MERRICOMBE, 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 MERRICOMBE). 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 MERRICOMBE?

MERRICOMBE is located on LACEYS LANE in NITON, in the PO38 postcode district. The below map shows the position of MERRICOMBE on LACEYS LANE.