Explore which home improvements can not only enhance your living space but also increase your property's value
Flat features, location, and investment performance
3 Martyr Close is a leasehold flat, built in 1950-1966. A 2014 survey recorded the property as having 590 square feet of floor space and space for 2 bedrooms.
The property was a reasonable investment for its previous owner, who made a £105,000 profit between October 2014 and November 2022.
3, Martyr Close, St Albans, Hertfordshire AL1 2LL
Timeline of sold property prices and cost per square foot
Since 3 Martyr Close's first recorded sale in 2001, the flat's price has risen by £238,000 or 10% per year.
During the same period, the price of an average home on Martyr Close increased by £254,000 or 9% per year, and the average UK home increased by 9% per year.
- Current valuation£342,000
Flat leasehold, £580 per square foot- 4%
- Sold November 2022£355,000
Flat leasehold, £602 per square foot+ 42%
- Sold October 2014£250,000
Flat leasehold, £424 per square foot+ 45%
- Sold July 2012£172,000
Flat leasehold, £292 per square foot+ 65%
- Sold February 2001£104,000
Flat leasehold, £176 per square foot
Comparison of local and national property prices
House Prices in Martyr Close start at £233,000 for the cheapest property on the street, rising to £470,000 for the most expensive.
3 Martyr Close is worth 9% less than the £376,000 average property on Martyr Close and 14% more than the £300,000 average home in England.
Cost per square foot valuation
Using local prices per square foot as benchmarks for valuation
When valuing this property, one factor we consider is the average cost per square foot (CPSF) for flats in the area. Based on this metric alone, the property's valuation would be £331,000.
Our valuation is at the higher end of the £341 to £781 CPSF you would have to pay for a typical flat in Martyr Close. Factors such as features and floor level affect CPSF, with past sale prices reflecting these differences.
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Property valuation details and commonly asked questions
- What condition is the property in?
- How is the property valuation estimated?
- Where are the figures sourced?
- What should I do if the details are incorrect?
What condition is the property in?
At a sale price of £342,000, the property’s cost per square foot indicates a better condition than the neighbouring properties or that it possesses additional features to warrant the higher price.
Making home improvements could increase the cost per square foot within the £341 to £781 per square foot range we typically see for flats in Martyr Close, increasing the property's value.
How is the property valuation estimated?
Every month, our Automated Valuation Model (AVM) determines property values.
Our AVM collects data from reputable sources, like HM Land Registry, and uses the data to estimate what each property is worth.
In our tests, we have found that the sale price of a property falls within our AVM's confidence range in most cases. However, there are scenarios where the valuations are not accurate. For example, if significant alterations have been made to a property recently or if a property is unique with few comparables.
For more details on the workings of our AVM, including its strengths, limitations, and how it measures up to traditional valuation methods, please refer to our guide 'How We Value Property'.
We try to make the valuations as accurate as possible, but they are estimates. When buying or selling property, you should speak to a qualified professional.
Where are the figures sourced?
Sold property prices, and data on property types/tenures, are sourced from the HM Land Registry.
There is a time delay in property sales appearing in HM Land Registry, which can be up to three months.
Other property details, such as energy efficiency, are estimates from a 2014 property survey.
What should I do if the details are incorrect?
We generate all our property valuations programmatically. They cannot be manually edited based on new information, such as evidence of redevelopment.
If any other property details are incorrect or out-of-date, they will update automatically when next surveyed.
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