SPRINGBANK, BOURKE HILL, CHIPSTEAD, COULSDON, CR5 3PS - £790,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

SPRINGBANK is a small extended detached house of 160m², built sometime between 1950 and 1966, which could now be worth an estimated £785,238. It was last sold for £790,000 in April 2024, which was around 13% below the average April 2024 detached price in the Reigate and Banstead local authority area. The most recent EPC inspection was February 2024, where the current energy rating was G, and the potential energy rating was D.

SPRINGBANK Sold Prices

Land registry data shows three sales for SPRINGBANK since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Reigate and Banstead local authority area for the corresponding sale date. Two of the three SPRINGBANK sales were for below the average price, whilst one was 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
2024 16 APR	£790,000	£907,857	13% below HPI
2020 30 OCT	£350,000	£839,036	58% below HPI
1998 29 MAY	£250,000	£206,464	21% above HPI

SPRINGBANK Price Paid vs. HPI Average

The below graph shows the average detached house price in the Reigate and Banstead local authority area over time, sourced from the HPI. The three SPRINGBANK sales between May 1998 and April 2024 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 October 2020 sale was for 58% below the HPI. So the extrapolation line tracks at 58% below the HPI over time, until the April 2024 sale, where it rises to 13% below the HPI. The line then continues to track at 13% below the HPI.

What might SPRINGBANK be worth now?

SPRINGBANK might now be worth an estimated £785,238.

This is based on house price deflation of 0.6%, between April 2024 and December 2024, for detached houses, in the Reigate and Banstead local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 0.6% deflationary decrease is applied to the most recent sale price for SPRINGBANK of £790,000 on 16th April 2024. For the value to have decreased from £790,000 to £785,238 over the four months to December 2024, the following assumptions must hold true:

• The value of SPRINGBANK has moved in line with the HPI for detached houses in the Reigate and Banstead local authority area.
• The April 2024 sale price of £790,000 represented a fair market value for the property.
• The size, condition, and specification of SPRINGBANK has not materially changed since April 2024.

How Large is SPRINGBANK?

SPRINGBANK is 160m², which includes one extension, according to the EPC inspection conducted in February 2024. This puts it in the smallest 20% of detached houses houses in Chipstead, based on EPC data. The below chart shows the distribution of detached houses houses by size in Chipstead, and where SPRINGBANK lies on this distribution: 20% of detached houses houses are smaller than SPRINGBANK, and 80% of houses are larger. Note that EPC data is not available for all properties in Chipstead.

SPRINGBANK: Plot and Title Map

SPRINGBANK sits on a plot of roughly 0.408 of an acre, or 1,650m². The below map shows the location of SPRINGBANK, 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 SPRINGBANK). 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 SPRINGBANK?

SPRINGBANK is located on BOURKE HILL in CHIPSTEAD, in the CR5 postcode district. The below map shows the position of SPRINGBANK on BOURKE HILL.