Oliver Reilly says ..

Property Oracle says ..

The property is a 2-bedroom terraced house located on Wood Street in Newark, Nottinghamshire. The list price is £150,000. The property appears to be in good condition based on the provided photos. The interior has been recently updated with a modern kitchen and bathroom. The decor is stylish and well-maintained. There is a small, enclosed rear yard. While the property itself is in good condition, the plot size is extremely small (0.00 sqft). This is a significant drawback, especially when compared to other properties in the area. The location is reasonable. Newark is a market town with good transport links via Newark North Gate train station (0.93km away). There are also several schools within a reasonable distance, including Magnus Church of England Academy (rated ‘Good’ by Ofsted). Considering the average price per sqft in the area is £311, and the property’s size is 180.08 sqft, a simple calculation would suggest a fair price of approximately £56,000. However, the average house price in the area is significantly higher at £450,572, and this is likely influenced by larger properties. The list price of £150,000 is higher than the estimated value based on sqft, but seems reasonable considering the overall condition, location, and the lack of comparable properties with similar sqft in the area. Nearby comparable properties are all terraced houses, and their prices range from £41,000 to £210,000. The lack of information on the sqft of these comparable properties makes a precise comparison difficult.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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