OMEGA, UPPER HYDE FARM LANE, SHANKLIN, PO37 7PS - £290,000

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

OMEGA is a very small detached house of 58m², built sometime between 1967 and 1975. It was last sold for £290,000 in February 2016, which was around 1% above the average February 2016 detached price in the Isle of Wight local authority area. The most recent EPC inspection was May 2012, where the current energy rating was D, and the potential energy rating was B.

OMEGA Sold Prices

Land registry data shows three sales for OMEGA since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Isle of Wight local authority area for the corresponding sale date. The three OMEGA sales were a mix of above the average price, roughly equal to the average price, and 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
2016 19 FEB	£290,000	£287,411	1% above HPI
2013 21 JUN	£250,000	£249,351	Close to HPI
2007 2 JUL	£220,000	£259,176	15% below HPI

OMEGA 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 three OMEGA sales between July 2007 and February 2016 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 June 2013 sale roughly matched the HPI. So the extrapolation line tracks roughly in line with the HPI over time, until the February 2016 sale, where it rises to 1% above the HPI. The line then continues to track at 1% above the HPI.

How Large is OMEGA?

OMEGA is 58m² according to the EPC inspection conducted in May 2012. This puts it in the smallest 10% of detached houses in Shanklin, based on EPC data. The below chart shows the distribution of detached houses by size in Shanklin, and where OMEGA lies on this distribution: 2% of detached houses are smaller than OMEGA, and 98% of houses are larger. Note that EPC data is not available for all properties in Shanklin.

OMEGA: Plot and Title Map

OMEGA sits on a plot of roughly 0.152 of an acre, or 616m². The below map shows the location of OMEGA, 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 OMEGA). 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 OMEGA?

OMEGA is located on UPPER HYDE FARM LANE in SHANKLIN, in the PO37 postcode district. The below map shows the position of OMEGA on UPPER HYDE FARM LANE.