THE FIRS, STEEP STREET, CHEPSTOW, NP16 5PJ - £275,000

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

THE FIRS is a midsized extended detached house of 120m², built sometime between 1991 and 1995, which could now be worth an estimated £442,902. It was last sold for £275,000 in September 2015, which was around 9% below the average September 2015 detached price in the Monmouthshire local authority area. The most recent EPC inspection was August 2014, where the current energy rating was C, and the potential energy rating was B.

THE FIRS Sold Prices

Land registry data shows two sales for THE FIRS since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Monmouthshire local authority area for the corresponding sale date. Both of the two THE FIRS 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
2015 4 SEP	£275,000	£302,423	9% below HPI
2010 20 AUG	£265,000	£273,283	3% below HPI

THE FIRS Price Paid vs. HPI Average

The below graph shows the average detached house price in the Monmouthshire local authority area over time, sourced from the HPI. The two THE FIRS sales from August 2010 and September 2015 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 August 2010 sale was for 3% below the HPI. So the extrapolation line tracks at 3% below the HPI over time, until the September 2015 sale, where it falls to 9% below the HPI. The line then continues to track at 9% below the HPI.

What might THE FIRS be worth now?

THE FIRS might now be worth an estimated £442,902.

This is based on house price inflation of 61.1%, between September 2015 and December 2024, for detached houses, in the Monmouthshire local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 61.1% inflationary increase is applied to the most recent sale price for THE FIRS of £275,000 on 4th September 2015. For the value to have increased from £275,000 to £442,902 over the eight years and nine months to December 2024, the following assumptions must hold true:

• The value of THE FIRS has moved in line with the HPI for detached houses in the Monmouthshire local authority area.
• The September 2015 sale price of £275,000 represented a fair market value for the property.
• The size, condition, and specification of THE FIRS has not materially changed since September 2015.

How Large is THE FIRS?

THE FIRS is 120m², which includes one extension, according to the EPC inspection conducted in August 2014. This puts it in the largest 50% of detached houses houses in Chepstow, based on EPC data. The below chart shows the distribution of detached houses houses by size in Chepstow, and where THE FIRS lies on this distribution: 55% of detached houses houses are smaller than THE FIRS, and 44% of houses are larger. Note that EPC data is not available for all properties in Chepstow.

THE FIRS: Plot and Title Map

THE FIRS sits on a plot of roughly 0.159 of an acre, or 644m². The below map shows the location of THE FIRS, 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 THE FIRS). 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 THE FIRS?

THE FIRS is located on STEEP STREET in CHEPSTOW, in the NP16 postcode district. The below map shows the position of THE FIRS on STEEP STREET.