56, FARADAY DRIVE, SHENLEY LODGE, MILTON KEYNES, MK5 7DB - £490,000

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

56 FARADAY DRIVE is a midsized extended detached house of 115m², built sometime between 1996 and 2002. It was last sold for £490,000 in October 2017, which was around 11% above the average October 2017 detached price in the Milton Keynes 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.

56 FARADAY DRIVE Sold Prices

Land registry data shows two sales for 56 FARADAY 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 Milton Keynes local authority area for the corresponding sale date. Both of the two 56 FARADAY 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
2017 18 OCT	£490,000	£441,162	11% above HPI
1999 26 FEB	£141,995	£108,197	31% above HPI

56 FARADAY DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Milton Keynes local authority area over time, sourced from the HPI. The two 56 FARADAY DRIVE sales from February 1999 and October 2017 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 February 1999 sale was for 31% above the HPI. So the extrapolation line tracks at 31% above the HPI over time, until the October 2017 sale, where it falls to 11% above the HPI. The line then continues to track at 11% above the HPI.

How Large is 56 FARADAY DRIVE?

56 FARADAY DRIVE is 115m², which includes one extension, according to the EPC inspection conducted in August 2017. This puts it in the smallest 50% of detached houses in Milton Keynes, based on EPC data. The below chart shows the distribution of detached houses by size in Milton Keynes, and where 56 FARADAY DRIVE lies on this distribution: 42% of detached houses are smaller than 56 FARADAY DRIVE, and 57% of houses are larger. Note that EPC data is not available for all properties in Milton Keynes.

56 FARADAY DRIVE: Plot and Title Map

56 FARADAY DRIVE sits on a plot of roughly 0.104 of an acre, or 421m². The below map shows the location of 56 FARADAY 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 56 FARADAY 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 56 FARADAY DRIVE?

56 FARADAY DRIVE is located in SHENLEY LODGE, in the MK5 postcode district. The below map shows the position of No. 56 on FARADAY DRIVE.