3, RAINBOW ROAD, WEST MERSEA, COLCHESTER, CO5 8RE - £445,000

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

3 RAINBOW ROAD is a midsized extended detached house of 123m², built sometime between 1950 and 1966. It was last sold for £445,000 in November 2020, which was around 2% below the average November 2020 detached price in the Colchester local authority area. The most recent EPC inspection was April 2018, where the current energy rating was F, and the potential energy rating was D.

3 RAINBOW ROAD Sold Prices

Land registry data shows two sales for 3 RAINBOW ROAD since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Colchester local authority area for the corresponding sale date. Both of the two 3 RAINBOW ROAD 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
2020 9 NOV	£445,000	£454,919	2% below HPI
2007 19 DEC	£230,000	£307,621	25% below HPI

3 RAINBOW ROAD Price Paid vs. HPI Average

The below graph shows the average detached house price in the Colchester local authority area over time, sourced from the HPI. The two 3 RAINBOW ROAD sales from December 2007 and November 2020 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 December 2007 sale was for 25% below the HPI. So the extrapolation line tracks at 25% below the HPI over time, until the November 2020 sale, where it rises to 2% below the HPI. The line then continues to track at 2% below the HPI.

How Large is 3 RAINBOW ROAD?

3 RAINBOW ROAD is 123m², which includes one extension, according to the EPC inspection conducted in April 2018. This puts it in the largest 50% of detached houses in West Mersea, based on EPC data. The below chart shows the distribution of detached houses by size in West Mersea, and where 3 RAINBOW ROAD lies on this distribution: 57% of detached houses are smaller than 3 RAINBOW ROAD, and 42% of houses are larger. Note that EPC data is not available for all properties in West Mersea.

3 RAINBOW ROAD: Plot and Title Map

3 RAINBOW ROAD sits on a plot of roughly 0.209 of an acre, or 845m². The below map shows the location of 3 RAINBOW ROAD, 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 3 RAINBOW ROAD). 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 3 RAINBOW ROAD?

3 RAINBOW ROAD is located in WEST MERSEA, in the CO5 postcode district. The below map shows the position of No. 3 on RAINBOW ROAD.