5, RICHMOND DRIVE, MELTON MOWBRAY, LE13 0JP - £245,000

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 RICHMOND DRIVE is a very small semi-detached house of 50m², built sometime between 2003 and 2006, which could now be worth an estimated £278,705. It was last sold for £245,000 in February 2021, which was around 14% above the average February 2021 semi-detached price in the Melton local authority area. The most recent EPC inspection was August 2017, where the current energy rating was C, and the potential energy rating was B.

5 RICHMOND DRIVE Sold Prices

Land registry data shows three sales for 5 RICHMOND DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average semi-detached price in the Melton local authority area for the corresponding sale date. All of the three 5 RICHMOND DRIVE 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
2021 19 FEB	£245,000	£215,589	14% above HPI
2018 16 MAR	£225,000	£189,786	19% above HPI
2005 29 JUN	£142,950	£140,927	1% above HPI

5 RICHMOND DRIVE Price Paid vs. HPI Average

The below graph shows the average semi-detached house price in the Melton local authority area over time, sourced from the HPI. The three 5 RICHMOND DRIVE sales between June 2005 and February 2021 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 March 2018 sale was for 19% above the HPI. So the extrapolation line tracks at 19% above the HPI over time, until the February 2021 sale, where it falls to 14% above the HPI. The line then continues to track at 14% above the HPI.

What might 5 RICHMOND DRIVE be worth now?

5 RICHMOND DRIVE might now be worth an estimated £278,705.

This is based on house price inflation of 13.8%, between February 2021 and February 2025, for semi-detached houses, in the Melton local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 13.8% inflationary increase is applied to the most recent sale price for 5 RICHMOND DRIVE of £245,000 on 19th February 2021. For the value to have increased from £245,000 to £278,705 over the four years to February 2025, the following assumptions must hold true:

• The value of 5 RICHMOND DRIVE has moved in line with the HPI for semi-detached houses in the Melton local authority area.
• The February 2021 sale price of £245,000 represented a fair market value for the property.
• The size, condition, and specification of 5 RICHMOND DRIVE has not materially changed since February 2021.

How Large is 5 RICHMOND DRIVE?

5 RICHMOND DRIVE is 50m² according to the EPC inspection conducted in August 2017. This puts it in the smallest 10% of semi-detached houses houses in Melton Mowbray, based on EPC data. The below chart shows the distribution of semi-detached houses houses by size in Melton Mowbray, and where 5 RICHMOND DRIVE lies on this distribution: 1% of semi-detached houses houses are smaller than 5 RICHMOND DRIVE, and 99% of houses are larger. Note that EPC data is not available for all properties in Melton Mowbray.

5 RICHMOND DRIVE: Plot and Title Map

5 RICHMOND DRIVE sits on a plot of roughly 0.058 of an acre, or 235m². The below map shows the location of 5 RICHMOND 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 RICHMOND 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 RICHMOND DRIVE?

5 RICHMOND DRIVE is located in MELTON MOWBRAY, in the LE13 postcode district. The below map shows the position of No. 5 on RICHMOND DRIVE.