Explore which home improvements can not only enhance your living space but also increase your property's value
Flat 3, Monument Place, 2, Ashwell Street, St Albans, Hertfordshire, AL3 5LB See map
Flat 3 Monument Place 2 Ashwell Street is a 490 square foot flat with a valuation of £356,000.
Since the property was last sold in January 2018 for £364,000, its value has fallen by £8,000.
Flat features, location, and investment performance
Flat 3 Monument Place 2 Ashwell Street is a leasehold flat, built in 1996-2002. A 2011 survey recorded the property as having 490 square feet of floor space and space for 2 bedrooms.
The property was a good investment for its previous owner, who made a £114,000 profit between February 2012 and January 2018.
Flat 3, Monument Place, 2, Ashwell Street, St Albans, Hertfordshire AL3 5LB
Timeline of sold property prices and cost per square foot
Since Flat 3 Monument Place 2 Ashwell Street's first recorded sale in 1996, the flat's price has risen by £283,000 or 14% per year.
During the same period, the price of an average home on Ashwell Street increased by £513,000 or 18% per year, and the average UK home increased by 14% per year.
- Current valuation£356,000
Flat leasehold, £727 per square foot- 2%
- Sold January 2018£364,000
Flat leasehold, £743 per square foot+ 46%
- Sold February 2012£250,000
Flat leasehold, £510 per square foot+ 10%
- Sold February 2010£227,500
Flat leasehold, £464 per square foot+ 40%
- Sold July 2001£163,000
Flat leasehold, £333 per square foot+ 21%
- Sold August 1999£134,950
Flat leasehold, £275 per square foot+ 47%
- Sold July 1997£92,000
Flat leasehold, £188 per square foot+ 26%
- Sold August 1996£73,000
Flat leasehold, £149 per square foot
Comparison of local and national property prices
House Prices in Ashwell Street start at £284,000 for the cheapest property on the street, rising to £1,039,000 for the most expensive.
Flat 3 Monument Place 2 Ashwell Street is worth 43% less than the £620,000 average property on Ashwell Street and 19% 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 £353,000.
Our valuation is at the higher end of the £709 to £733 CPSF you would have to pay for a typical flat in Ashwell Street. 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 £356,000, 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 £709 to £733 per square foot range we typically see for flats in Ashwell Street, 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 2011 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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