£747,505
This estimated value is based upon the latest sale price for the house of £450,000 on 10 Jul 2013. 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 |
|---|---|
| £450,000 | 10 Jul 2013 |
| Detached |
| Freehold |
| Floor Area: 159 sq meters or 1,711 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 July 2013 the House Price Index for GREATER LONDON was 89.5.
The House Price Index as of 1 Mar 2024 is 148.6 which is a change of 66.112%.Applying this 66.112% change to the original purchase price of £450,000 results in an estimated price of approximately £747,505.
| 10 Jul 2013 | 1 Mar 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 89.5 | 148.6 | 66.112 % | £450,000 | £297,505 | £747,505 |
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 | 52.565 % | £236,543 | £686,543 |
| 3 Month Average | 52.288 % | £235,296 | £685,296 |
| 6 Month Average | 59.613 % | £268,258 | £718,258 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 28 Sep 2023 | £301,860 | £298,000 | FLAT 7 HEATHLANDS WITHAM ROAD |
| 18 Aug 2023 | £554,854 | £550,000 | 2 WITHAM ROAD |
| 18 Aug 2023 | £595,207 | £590,000 | 82 HEATH PARK ROAD |
| 28 Apr 2023 | £564,073 | £558,000 | 93 HEATH PARK ROAD |
| 26 Apr 2023 | £303,265 | £300,000 | 78B HEATH PARK ROAD |
This house has a floor area of 159 sq meters or 1,711 sq feet when measured on 5 Mar 2015. Using an estimated price of £747,505 means this house is valued at £4,701 per sq meter (£436 per sq foot).
The average size of a house on BALMORAL ROAD is 140 sq meters (1,513 sq feet).
| Date | Crime | Outcome | Where |
|---|---|---|---|
| Jan 2024 | Violence and sexual offences | Under investigation | On or near Balgores Lane |
| Dec 2023 | Other theft | Under investigation | On or near Balgores Lane |