£579,250
This estimated value is based upon the latest sale price for the house of £475,000 on 8 Feb 2019. This value is then adjusted by the current Official House Price Index for GREATER LONDON 1
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5 Faith Close, Gidea Park, Romford, Essex, RM2 5BF
Phone: 01708954867
| Price Paid | Date |
|---|---|
| £475,000 | 8 Feb 2019 |
| £249,995 | 9 Jun 2006 |
| £243,000 | 25 Oct 2004 |
| Terraced |
| Freehold |
| Floor Area: 90 sq meters or 968 sq feet |
This model uses changes in the Official Land Registry House Price Index for GREATER LONDON to estimate the market value.
When this house was purchased in February 2019 the House Price Index for GREATER LONDON was 120.3.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 21.947%.Applying this 21.947% change to the original purchase price of £475,000 results in an estimated price of approximately £579,250.
| 8 Feb 2019 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 120.3 | 146.7 | 21.947 % | £475,000 | £104,250 | £579,250 |
The Postcode Pricing Model uses changes in average sales price within the RM2 postcode to calculate an estimated price.
The average sales price when the house was purchased is compared with the current average sales price.
This change is then applied to the initial purchase price to derive the current estimated price.
Three different estimates are shown, with averages drawn from 1 month, 3 month and 6 month timeframes.
The longer timeframes give less volatile estimates, but are not so timely.
More information on this model and the calculations
| Change % | Change £ | Estimated Price | |
| 1 Month Average | 28.796 % | £136,783 | £611,783 |
| 3 Month Average | 8.817 % | £41,880 | £516,880 |
| 6 Month Average | 4.549 % | £21,606 | £496,606 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 31 Aug 2023 | £479,192 | £475,000 | 16 LYTTON ROAD |
| 25 Aug 2023 | £665,825 | £660,000 | 1A CLIVE ROAD |
| 17 Mar 2023 | £459,327 | £455,000 | FROBISHER VILLAS, 2B MARGARET ROAD |
| 11 Mar 2022 | £440,411 | £425,000 | FROBISHER VILLAS, 2A MARGARET ROAD |
| 2 Sep 2021 | £721,987 | £670,000 | 62 HEATH PARK ROAD |
This house has a floor area of 90 sq meters or 968 sq feet when measured on 20 Nov 2017. Using an estimated price of £586,752 means this house is valued at £6,519 per sq meter (£605 per sq foot).
The average size of a house on MARGARET CLOSE is 103 sq meters (1,111 sq feet).
| Date | Crime | Outcome | Where |
|---|---|---|---|
| Jan 2024 | Anti-social behaviour | On or near Lytton Road | |
| Jan 2024 | Anti-social behaviour | On or near Lytton Road | |
| Jan 2024 | Anti-social behaviour | On or near Lytton Road | |
| Dec 2023 | Vehicle crime | Investigation complete; no suspect identified | On or near Hastings Road |
| Jan 2024 | Burglary | Investigation complete; no suspect identified | On or near Faith Close |