1, THE CLOSE, HITCHIN, SG4 9PJ - £1,000,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

1 THE CLOSE is a very large extended detached house of 240m², built sometime between 1983 and 1990. It was last sold for £1,000,000 in May 2014, which was around 103% above the average May 2014 detached price in the North Hertfordshire local authority area. The most recent EPC inspection was March 2014, where the current energy rating was D, and the potential energy rating was C.

1 THE CLOSE Sold Prices

Land registry data shows three sales for 1 THE CLOSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the North Hertfordshire local authority area for the corresponding sale date. All of the three 1 THE CLOSE sales were for above 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
2014 22 MAY	£1,000,000	£492,148	103% above HPI
1999 18 JAN	£375,000	£178,436	110% above HPI
1996 28 MAR	£240,000	£123,361	95% above HPI

1 THE CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the North Hertfordshire local authority area over time, sourced from the HPI. The three 1 THE CLOSE sales between March 1996 and May 2014 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 1999 sale was for 110% above the HPI. So the extrapolation line tracks at 110% above the HPI over time, until the May 2014 sale, where it falls to 103% above the HPI. The line then continues to track at 103% above the HPI.

What might 1 THE CLOSE be worth now?

1 THE CLOSE might now be worth an estimated £1,609,504.

This is based on house price inflation of 61%, between May 2014 and December 2024, for detached houses, in the North Hertfordshire local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 61% inflationary increase is applied to the most recent sale price for 1 THE CLOSE of £1,000,000 on 22nd May 2014. For the value to have increased from £1,000,000 to £1,609,504 over the nine years and five months to December 2024, the following assumptions must hold true:

• The value of 1 THE CLOSE has moved in line with the HPI for detached houses in the North Hertfordshire local authority area.
• The May 2014 sale price of £1,000,000 represented a fair market value for the property.
• The size, condition, and specification of 1 THE CLOSE has not materially changed since May 2014.

How Large is 1 THE CLOSE?

1 THE CLOSE is 240m², which includes three extensions, according to the EPC inspection conducted in March 2014. This puts it in the largest 10% of detached houses houses in Hitchin, based on EPC data. The below chart shows the distribution of detached houses houses by size in Hitchin, and where 1 THE CLOSE lies on this distribution: 95% of detached houses houses are smaller than 1 THE CLOSE, and 4% of houses are larger. Note that EPC data is not available for all properties in Hitchin.

1 THE CLOSE: Plot and Title Map

1 THE CLOSE sits on a plot of roughly 0.264 of an acre, or 1,067m². The below map shows the location of 1 THE CLOSE, 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 1 THE CLOSE). 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 1 THE CLOSE?

1 THE CLOSE is located in HITCHIN, in the SG4 postcode district. The below map shows the position of No. 1 on THE CLOSE.