3, THE DRIVE, CHELMSFORD, CM1 4JS - £370,000

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.

3 THE DRIVE is a very small extended detached house of 64m², built sometime between 1900 and 1929, which could now be worth an estimated £415,650. It was last sold for £370,000 in November 2020, which was around 38% below the average November 2020 detached price in the Chelmsford local authority area. The most recent EPC inspection was December 2009, where the current energy rating was D, and the potential energy rating was D.

3 THE DRIVE Sold Prices

Land registry data shows two sales for 3 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 Chelmsford local authority area for the corresponding sale date. Both of the two 3 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
2020 2 NOV	£370,000	£592,410	38% below HPI
1998 30 APR	£110,000	£137,814	20% below HPI

3 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 two 3 THE DRIVE sales from April 1998 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 April 1998 sale was for 20% below the HPI. So the extrapolation line tracks at 20% below the HPI over time, until the November 2020 sale, where it falls to 38% below the HPI. The line then continues to track at 38% below the HPI.

What might 3 THE DRIVE be worth now?

3 THE DRIVE might now be worth an estimated £415,650.

This is based on house price inflation of 12.3%, between November 2020 and February 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 12.3% inflationary increase is applied to the most recent sale price for 3 THE DRIVE of £370,000 on 2nd November 2020. For the value to have increased from £370,000 to £415,650 over the five years and nine months to February 2025, the following assumptions must hold true:

• The value of 3 THE DRIVE has moved in line with the HPI for detached houses in the Chelmsford local authority area.
• The November 2020 sale price of £370,000 represented a fair market value for the property.
• The size, condition, and specification of 3 THE DRIVE has not materially changed since November 2020.

How Large is 3 THE DRIVE?

3 THE DRIVE is 64m², which includes one extension, according to the EPC inspection conducted in December 2009. This puts it in the smallest 10% 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 3 THE DRIVE lies on this distribution: 3% of detached houses houses are smaller than 3 THE DRIVE, and 97% of houses are larger. Note that EPC data is not available for all properties in Chelmsford.

3 THE DRIVE: Plot and Title Map

3 THE DRIVE sits on a plot of roughly 0.096 of an acre, or 389m². The below map shows the location of 3 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 3 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 3 THE DRIVE?

3 THE DRIVE is located in CHELMSFORD, in the CM1 postcode district. The below map shows the position of No. 3 on THE DRIVE.