2, THE DRIVE, GATESHEAD, NE10 9UE - £110,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

2 THE DRIVE is a very small detached house of 72m², built sometime between 1950 and 1966. It was last sold for £110,000 in January 2008, which was around 53% below the average January 2008 detached price in the Gateshead local authority area. The most recent EPC inspection was May 2015, where the current energy rating was D, and the potential energy rating was B.

2 THE DRIVE Sold Prices

Land registry data shows two sales for 2 THE DRIVE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Gateshead local authority area for the corresponding sale date. Both of the two 2 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
2008 28 JAN	£110,000	£233,411	53% below HPI
2003 16 MAY	£60,000	£134,984	56% below HPI

2 THE DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Gateshead local authority area over time, sourced from the HPI. The two 2 THE DRIVE sales from May 2003 and January 2008 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 May 2003 sale was for 56% below the HPI. So the extrapolation line tracks at 56% below the HPI over time, until the January 2008 sale, where it rises to 53% below the HPI. The line then continues to track at 53% below the HPI.

How Large is 2 THE DRIVE?

2 THE DRIVE is 72m² according to the EPC inspection conducted in May 2015. This puts it in the smallest 10% of detached houses in Gateshead, based on EPC data. The below chart shows the distribution of detached houses by size in Gateshead, and where 2 THE DRIVE lies on this distribution: 9% of detached houses are smaller than 2 THE DRIVE, and 90% of houses are larger. Note that EPC data is not available for all properties in Gateshead.

2 THE DRIVE: Plot and Title Map

2 THE DRIVE sits on a plot of roughly 0.087 of an acre, or 352m². The below map shows the location of 2 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 2 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 2 THE DRIVE?

2 THE DRIVE is located in GATESHEAD, in the NE10 postcode district. The below map shows the position of No. 2 on THE DRIVE.