£213,188
This estimated value is based upon the latest sale price for the house of £46,000 on 3 Jun 1998. 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 |
|---|---|
| £46,000 | 3 Jun 1998 |
| £41,500 | 30 Apr 1997 |
| Flats/Maisonettes |
| Leasehold |
| Floor Area: 35 sq meters or 376 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 June 1998 the House Price Index for GREATER LONDON was 31.7.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 363.454%.Applying this 363.454% change to the original purchase price of £46,000 results in an estimated price of approximately £213,188.
| 3 Jun 1998 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 31.7 | 146.7 | 363.454 % | £46,000 | £167,188 | £213,188 |
The Postcode Pricing Model uses changes in average sales price within the RM1 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 | 28.896 % | £13,292 | £59,292 |
| 3 Month Average | 289.319 % | £133,086 | £179,086 |
| 6 Month Average | 313.379 % | £144,154 | £190,154 |
This house has a floor area of 35 sq meters or 376 sq feet when measured on 17 Nov 2021.
The average size of a house on RUSHDON CLOSE is 40 sq meters (437 sq feet).