7, OAKWOOD DRIVE, WEST MERSEA, COLCHESTER, CO5 8DP - £407,500

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.

7 OAKWOOD DRIVE is a very small detached house of 76m², built sometime between 1991 and 1995, which could now be worth an estimated £399,066. It was last sold for £407,500 in August 2022, which was around 21% below the average August 2022 detached price in the Colchester local authority area. The most recent EPC inspection was June 2017, where the current energy rating was E, and the potential energy rating was A.

7 OAKWOOD DRIVE Sold Prices

Land registry data shows three sales for 7 OAKWOOD DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Colchester local authority area for the corresponding sale date. All of the three 7 OAKWOOD 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
2022 8 AUG	£407,500	£512,856	21% below HPI
2017 20 NOV	£310,000	£433,625	29% below HPI
2004 4 FEB	£178,000	£248,497	28% below HPI

7 OAKWOOD DRIVE 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 three 7 OAKWOOD DRIVE sales between February 2004 and August 2022 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 November 2017 sale was for 29% below the HPI. So the extrapolation line tracks at 29% below the HPI over time, until the August 2022 sale, where it rises to 21% below the HPI. The line then continues to track at 21% below the HPI.

What might 7 OAKWOOD DRIVE be worth now?

7 OAKWOOD DRIVE might now be worth an estimated £399,066.

This is based on house price deflation of 2.1%, between August 2022 and February 2025, for detached houses, in the Colchester local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 2.1% deflationary decrease is applied to the most recent sale price for 7 OAKWOOD DRIVE of £407,500 on 8th August 2022. For the value to have decreased from £407,500 to £399,066 over the three years and six months to February 2025, the following assumptions must hold true:

• The value of 7 OAKWOOD DRIVE has moved in line with the HPI for detached houses in the Colchester local authority area.
• The August 2022 sale price of £407,500 represented a fair market value for the property.
• The size, condition, and specification of 7 OAKWOOD DRIVE has not materially changed since August 2022.

How Large is 7 OAKWOOD DRIVE?

7 OAKWOOD DRIVE is 76m² according to the EPC inspection conducted in June 2017. This puts it in the smallest 20% of detached houses houses in West Mersea, based on EPC data. The below chart shows the distribution of detached houses houses by size in West Mersea, and where 7 OAKWOOD DRIVE lies on this distribution: 13% of detached houses houses are smaller than 7 OAKWOOD DRIVE, and 86% of houses are larger. Note that EPC data is not available for all properties in West Mersea.

7 OAKWOOD DRIVE: Plot and Title Map

7 OAKWOOD DRIVE sits on a plot of roughly 0.105 of an acre, or 424m². The below map shows the location of 7 OAKWOOD 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 7 OAKWOOD 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 7 OAKWOOD DRIVE?

7 OAKWOOD DRIVE is located in WEST MERSEA, in the CO5 postcode district. The below map shows the position of No. 7 on OAKWOOD DRIVE.