5, THE DRIVE, CHELMSFORD, CM1 4JS - £408,000

The information on this page is based on a number of underlying datasets, most of which are updated monthly. We maintain an update schedule which explains which version of each dataset we are currently relying on.

5 THE DRIVE is a small extended detached house of 94m², built sometime between 1930 and 1949, which could now be worth an estimated £487,242. It was last sold for £408,000 in December 2018, which was around 30% below the average December 2018 detached price in the Chelmsford local authority area. The most recent EPC inspection was May 2018, where the current energy rating was D, and the potential energy rating was C.

5 THE DRIVE Sold Prices

Land registry data shows three sales for 5 THE DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Chelmsford local authority area for the corresponding sale date. All of the three 5 THE DRIVE sales were for below the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2018 18 DEC	£408,000	£582,963	30% below HPI
2011 20 JAN	£220,000	£374,207	41% below HPI
2003 13 JUN	£215,000	£299,611	28% below HPI

5 THE DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Chelmsford local authority area over time, sourced from the HPI. The three 5 THE DRIVE sales between June 2003 and December 2018 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the January 2011 sale was for 41% below the HPI. So the extrapolation line tracks at 41% below the HPI over time, until the December 2018 sale, where it rises to 30% below the HPI. The line then continues to track at 30% below the HPI.

What might 5 THE DRIVE be worth now?

5 THE DRIVE might now be worth an estimated £487,242.

This is based on house price inflation of 19.4%, between December 2018 and June 2025, for detached houses, in the Chelmsford local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 19.4% inflationary increase is applied to the most recent sale price for 5 THE DRIVE of £408,000 on 18th December 2018. For the value to have increased from £408,000 to £487,242 over the seven years and six months to June 2025, the following assumptions must hold true:

• The value of 5 THE DRIVE has moved in line with the HPI for detached houses in the Chelmsford local authority area.
• The December 2018 sale price of £408,000 represented a fair market value for the property.
• The size, condition, and specification of 5 THE DRIVE has not materially changed since December 2018.

How Large is 5 THE DRIVE?

5 THE DRIVE is 94m², which includes one extension, according to the EPC inspection conducted in May 2018. This puts it in the smallest 30% of detached houses houses in Chelmsford, based on EPC data. The below chart shows the distribution of detached houses houses by size in Chelmsford, and where 5 THE DRIVE lies on this distribution: 22% of detached houses houses are smaller than 5 THE DRIVE, and 77% of houses are larger. Note that EPC data is not available for all properties in Chelmsford.

5 THE DRIVE: Plot and Title Map

5 THE DRIVE sits on a plot of roughly 0.090 of an acre, or 363m². The below map shows the location of 5 THE DRIVE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 5 THE DRIVE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 5 THE DRIVE?

5 THE DRIVE is located in CHELMSFORD, in the CM1 postcode district. The below map shows the position of No. 5 on THE DRIVE.