PENLAN, WELLOW ROAD, OLLERTON, NEWARK, NG22 9BB - £175,000

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.

PENLAN is a very small detached house of 81m², built sometime between 1976 and 1982, which could now be worth an estimated £179,916. It was last sold for £175,000 in August 2022, which was around 49% below the average August 2022 detached price in the Newark and Sherwood local authority area. The most recent EPC inspection was July 2022, where the current energy rating was D, and the potential energy rating was B.

PENLAN Sold Prices

Land registry data shows two sales for PENLAN since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Newark and Sherwood local authority area for the corresponding sale date. Both of the two PENLAN 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 5 AUG	£175,000	£345,395	49% below HPI
1996 30 AUG	£38,000	£79,142	52% below HPI

PENLAN Price Paid vs. HPI Average

The below graph shows the average detached house price in the Newark and Sherwood local authority area over time, sourced from the HPI. The two PENLAN sales from August 1996 and August 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 August 1996 sale was for 52% below the HPI. So the extrapolation line tracks at 52% below the HPI over time, until the August 2022 sale, where it rises to 49% below the HPI. The line then continues to track at 49% below the HPI.

What might PENLAN be worth now?

PENLAN might now be worth an estimated £179,916.

This is based on house price inflation of 2.8%, between August 2022 and March 2025, for detached houses, in the Newark and Sherwood local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 2.8% inflationary increase is applied to the most recent sale price for PENLAN of £175,000 on 5th August 2022. For the value to have increased from £175,000 to £179,916 over the three years and five months to March 2025, the following assumptions must hold true:

• The value of PENLAN has moved in line with the HPI for detached houses in the Newark and Sherwood local authority area.
• The August 2022 sale price of £175,000 represented a fair market value for the property.
• The size, condition, and specification of PENLAN has not materially changed since August 2022.

How Large is PENLAN?

PENLAN is 81m² according to the EPC inspection conducted in July 2022. This puts it in the smallest 20% of detached houses houses in Ollerton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Ollerton, and where PENLAN lies on this distribution: 15% of detached houses houses are smaller than PENLAN, and 85% of houses are larger. Note that EPC data is not available for all properties in Ollerton.

PENLAN: Plot and Title Map

PENLAN sits on a plot of roughly 0.127 of an acre, or 512m². The below map shows the location of PENLAN, 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 PENLAN). 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 PENLAN?

PENLAN is located on WELLOW ROAD in OLLERTON, in the NG22 postcode district. The below map shows the position of PENLAN on WELLOW ROAD.