£368,648
This estimated value is based upon the latest sale price for the house of £125,000 on 22 Apr 2002. 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 |
|---|---|
| £125,000 | 22 Apr 2002 |
| £70,000 | 21 Aug 1998 |
| Flats/Maisonettes |
| Leasehold |
| Floor Area: 49 sq meters or 527 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 April 2002 the House Price Index for GREATER LONDON was 49.7.
The House Price Index as of 1 Feb 2024 is 146.7 which is a change of 194.919%.Applying this 194.919% change to the original purchase price of £125,000 results in an estimated price of approximately £368,648.
| 22 Apr 2002 | 1 Feb 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 49.7 | 146.7 | 194.919 % | £125,000 | £243,648 | £368,648 |
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 | 178.651 % | £223,314 | £348,314 |
| 3 Month Average | 187.956 % | £234,945 | £359,945 |
| 6 Month Average | 173.573 % | £216,966 | £341,966 |
This house has a floor area of 49 sq meters or 527 sq feet when measured on 15 Jun 2017.
The average size of a house on WITHAM ROAD is 76 sq meters (821 sq feet).
This house is the smallest in the street with a floor area of 49 sq meters (527 sq feet).