RED LODGE, WHITECROSS LANE, SHANKLIN, PO37 7EJ - £420,000

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

RED LODGE is a small detached house of 92m², built sometime between 1950 and 1966. It was last sold for £420,000 in October 2022, which was around 3% below the average October 2022 detached price in the Isle of Wight local authority area. The most recent EPC inspection was June 2020, where the current energy rating was E, and the potential energy rating was C.

RED LODGE Sold Prices

Land registry data shows three sales for RED LODGE 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. All of the three RED LODGE 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 26 OCT	£420,000	£434,076	3% below HPI
2021 28 MAY	£190,000	£365,654	48% below HPI
1997 12 FEB	£60,000	£72,738	18% below HPI

RED 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 three RED LODGE sales between February 1997 and October 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 2021 sale was for 48% below the HPI. So the extrapolation line tracks at 48% below the HPI over time, until the October 2022 sale, where it rises to 3% below the HPI. The line then continues to track at 3% below the HPI.

How Large is RED LODGE?

RED LODGE is 92m² according to the EPC inspection conducted in June 2020. This puts it in the smallest 40% of detached houses in Shanklin, based on EPC data. The below chart shows the distribution of detached houses by size in Shanklin, and where RED LODGE lies on this distribution: 36% of detached houses are smaller than RED LODGE, and 63% of houses are larger. Note that EPC data is not available for all properties in Shanklin.

RED LODGE: Plot and Title Map

RED LODGE sits on a plot of roughly 0.071 of an acre, or 288m². The below map shows the location of RED 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 RED 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 RED LODGE?

RED LODGE is located on WHITECROSS LANE in SHANKLIN, in the PO37 postcode district. The below map shows the position of RED LODGE on WHITECROSS LANE.