SPRINGBANK, CHURCH STREET, NITON, VENTNOR, PO38 2DA - £289,950

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.

SPRINGBANK is a midsized detached house of 109m², built sometime between 1950 and 1966, which could now be worth an estimated £326,299. It was last sold for £289,950 in June 2021, which was around 20% below the average June 2021 detached price in the Isle of Wight local authority area. The most recent EPC inspection was August 2024, where the current energy rating was D, and the potential energy rating was C.

SPRINGBANK Sold Prices

Land registry data shows three sales for SPRINGBANK 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 SPRINGBANK 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
2021 28 JUN	£289,950	£361,764	20% below HPI
2018 1 MAR	£270,000	£300,058	10% below HPI
2015 23 OCT	£197,000	£280,358	30% below HPI

SPRINGBANK 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 SPRINGBANK sales between October 2015 and June 2021 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 March 2018 sale was for 10% below the HPI. So the extrapolation line tracks at 10% below the HPI over time, until the June 2021 sale, where it falls to 20% below the HPI. The line then continues to track at 20% below the HPI.

What might SPRINGBANK be worth now?

SPRINGBANK might now be worth an estimated £326,299.

This is based on house price inflation of 12.5%, between June 2021 and February 2025, for detached houses, in the Isle of Wight local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 12.5% inflationary increase is applied to the most recent sale price for SPRINGBANK of £289,950 on 28th June 2021. For the value to have increased from £289,950 to £326,299 over the four years and four months to February 2025, the following assumptions must hold true:

• The value of SPRINGBANK has moved in line with the HPI for detached houses in the Isle of Wight local authority area.
• The June 2021 sale price of £289,950 represented a fair market value for the property.
• The size, condition, and specification of SPRINGBANK has not materially changed since June 2021.

How Large is SPRINGBANK?

SPRINGBANK is 109m² according to the EPC inspection conducted in August 2024. This puts it in the largest 50% of detached houses houses in Niton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Niton, and where SPRINGBANK lies on this distribution: 59% of detached houses houses are smaller than SPRINGBANK, and 41% of houses are larger. Note that EPC data is not available for all properties in Niton.

SPRINGBANK: Plot and Title Map

SPRINGBANK sits on a plot of roughly 0.084 of an acre, or 340m². The below map shows the location of SPRINGBANK, 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 SPRINGBANK). 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 SPRINGBANK?

SPRINGBANK is located on CHURCH STREET in NITON, in the PO38 postcode district. The below map shows the position of SPRINGBANK on CHURCH STREET.