Calnea Report North West Apartments

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Property Market Report Flat 4 5 Springfield Street WN1 2NA 15 Oct 2009 Statistical computations by Calnea Analytics Valuation estimates Reference: Valuation Date: Estimated current value: Forecast std. deviation: Valuation range: 359042 15 Oct 2009 £113,113 44.00% £63,330 to £162,897 Sub-building name: Building name: Building number: Street: Postcode: Flat 4 5 Springfield Street WN1 2NA Valuation estimate: The Calnea Analytics automated valuation model predicts that the most probabl
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  Property   Market   Reort  Flat 4  5Springfield StreetWN1 2NA15 Oct 2009   Statistical computations by Calnea Analytics    Valuation estimates  Reference: 359042 Sub - building name: Flat 4 Valuation Date: 15 Oct 2009 Building name: Estimated current value: £113,113 Building number: 5 Forecast std. deviation: 44.00% Street: Springfield Street Valuation range: £63,330 to £162,897 Postcode: WN1 2NA  Valuation estimate: The Calnea Analytics automated valuation model predicts that the most probable current open market value for the property inquestion is £113,113. This valuation estimate is based upon the information submitted.    Forecast Standard Deviation: Our estimate of the accuracy of this valuation is expressed in terms offorecast standard deviation. This is calculated from the strength of theavailable supporting data and is used to determine the valuationrange. The sale price the property will achieve in an open market willmost probably lie within the valuation range. The width of the valuationrange depends upon our confidence in our prediction. A higher degreeof confidence will lead to a narrower valuation range. In statisticalterms the valuation range represents a movement of one standarddeviation either side of the mean. The graph to the right illustrates thedistribution curve of probable values.Persons seeking to place reliance on these estimates for their own orthird party purposes do so at their own risk. No representation is madeas to the accuracy, completeness or reliability of these forecasts.£63,330£162,897 Page 1 of 20  Five year forecast  Estimate of Current Value: £113,113 Price Forecast Range - (68% confidence)  ForecastCAGR (%)Total Growth (%)High£190k10.9%68% Medium£156k 6.7%38% Low£123k1.7%9%  Price Forecast Range - (95% confidence)  ForecastCAGR (%)Total Growth (%)High£224k14.6%98% Medium£156k 6.7%38% Low£89k-4.6%-21% Valuation Forecasts: The house price forecast model predicts that £156k is the most probable value of the property in five years time.There are two sets of price forecast ranges shown above. The first forecast range (£123k - £190k) has a statistical confidencemeasure of one standard deviation from the mean, while the second range (£89k - £224k) has a 95% confidence measure (1.96standard deviations). The confidence measure represents our degree of certainty that the property’s value in five years time will bewithin the given range. The Price Forecast Fan Chart is a graphical illustration of how these two ranges project over time.CAGR stands for Compounded Annual Growth Rate. This is the annual equivalent percentage growth required to meet the forecastvaluation. Important Notes The forecast model assumes that the property undergoes no material home improvement or deterioration going forward. All changes are nominal and do not allow for inflation. For Leasehold properties, these forecasts assume that the length of lease issufficient for the property price to not be materially affected by a five year decrease in lease length. Persons seeking to place relianceon these estimates for their own or third party purposes do so at their own risk. No representation is made as to the accuracy,completeness or reliability of these forecasts. Page 2 of 20  General street information  Springfield Street in Wigan WN1 comprises 57 properties. Out of these properties, the vast majority are residential (i.e. there are atotal of 55 homes in Springfield Street). The information provided below comes from Mouseprice.com, third parties and commentssubmitted by the general public. Please take some time to explore the wealth of information that can be found throughout theMouseprice.com website, including the free valuations on every property.The property sale that has been recorded in Springfield Street most recently was 1, which sold for £85,000 on 30/09/2005. The mostexpensive recorded transaction in Springfield Street to date is 5, which sold for £335,000 on 29/06/2005. The least expensivetransaction that has been recorded in Springfield Street is 21. It sold for £25,500 on 03/11/2000. There is an area guide for Wiganavailable on the Mouseprice.com website, where you can access more information on house price related trends, graphs and stats.Of the 55 homes on Springfield Street, 42 are flats (including apartments and maisonettes). Some of these properties are relativelyold, as at least 1 of them was built more than 100 years ago. Springfield Street has an average current value of £162,953, whichmakes it one of the more expensive parts of WN1 Wigan, where the average house price is £122,436. This value is derived from thefree automated valuation estimates provided on the Mouseprice website. These are known as AVMs. There are 15 transactionsrecorded in Springfield Street by HM Land Registry since 1/04/2000. This gives us reasonable AVM coverage for Wigan WN1.At the moment, there are two properties for sale in Springfield Street that are listed on Mouseprice.com. If you want to look furtherafield, there are many more properties for sale in Wigan WN1 that can be viewed on the website. The asking prices of theseproperties range from £5,500 to £625,000 and their average asking price is £160,581. One of the most recent properties to be listedas for sale in Wigan WN1 was on Roundhouse Avenue, WN1, and was put on the market for £109,950 on 07/10/2009.Mouseprice.com enables people to share with others a price that might tempt them to sell their property. These are known asproperty flirts. There are no property flirts in Springfield Street, but there are 5 property flirts in Wigan WN1 . The flirt prices of theseproperties range from £90,000 to £269,950 and their average flirt price is £159,990.Mouseprice.com does not list any properties for rent in Wigan WN1 at the moment. You can, however, find many properties for rent just outside of the Wigan WN1 area. All these properties, as well as many other properties in the rest of the country, can be viewed onthe Mouseprice.com website.If you live on Springfield Street, your nearest primary school is Mab's Cross Primary School on Standishgate and your nearestsecondary school is The Deanery CofE High School on Frog Lane. If you are a regular user of the Post Office, Springfield Street wouldbe a great place to live, as a branch is located nearby on Wigan Lane. For people who need to visit a bank fairly often, living onSpringfield Street is also very convenient, as HSBC bank is located a short walk away on Mesnes Road. As well as this, SpringfieldStreet is handy for people who use petrol stations - there is one located just around the corner. However, the biggest advantage isthat residents can quickly nip out to do their food shopping, as there is a Tesco supermarket just minutes away on Central Park. Page 3 of 20
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