Appendix III Market and Values Research

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Appendix III Market and Values Research EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants D|S|P Planning & Development Viability Consultants Appendix III Market and Values Research For: Epping Forest District Council Stage 1: Assessment of the Viability of Affordable Housing, Community Infrastructure Levy and Local Plan Dixon Searle LLP The Old Hayloft 28C Headley Road Grayshott Hindhead GU26 6LD www.dixonsearle.co.uk 1 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants Contents Page Overall residential market review (by settlement areas / localities) 3 Zoopla Average Values and Analysis 27 DSP New-build housing research 38 Re-sale and New Build Analysis 42 Sheltered Housing Research 44 Economic Context / Housing Market Context 45 Residential Values Summary 54 Commercial Context 56 Commercial Values Data 71 Stakeholder Consultation 76 Feedback Log 78 Land Values Economic Context 79 Land Values Research 86 Notes EGi property resource extracts for research base follow the above. 2 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants 1.0 Residential Market Review – June 2014 Source: www.rightmove.co.uk 1.1 Research based on settlement areas within the District (21 in total) based upon the Council’s settlement hierarchy of ‘Major Service Centres’, ‘Minor Service Centres’ and ‘Large Villages’. ‘Major Service Centres’ were only researched by ward area, all other areas were researched by settlement name. We note there was limited available data for High Ongar, Matching Green, Moreton, Sheering, Stapleford Abbotts and Willingale. 1.2 The following map provides the names and locations of the 21 settlements researched. Figure 1: Epping Forest Settlement Map 3 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants 2.0 Re-sale RightMove Research – June 2014 Source: www.rightmove.co.uk 2.1 The tables below show sales data collected from Rightmove at June 2014 (based on wards and settlements noted previously) for a range of different housing types from detached 4- bed properties to 1-bed flats. 2.2 Major Service Centres – based on ward areas Table 1a: Buckhurst Hill West (88 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a #DIV/0! £659,000 £850,613 Semi-Detached n/a #DIV/0! £570,000 £708,889 Terraced n/a £351,998 £496,777 £632,500 Flats £259,992 £313,965 n/a n/a Bungalows n/a £425,000 #DIV/0! #DIV/0! Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £259,992 £215,000 £242,496 £264,975 £281,246 £299,999 2-Bed Flats £313,965 £239,995 £280,000 £300,000 £337,475 £450,000 2-Bed Houses £351,998 £299,995 £299,995 £325,000 £385,000 £450,000 3-Bed Houses £561,083 £400,000 £478,750 £560,000 £626,250 £765,000 4-Bed Houses £760,521 £565,000 £677,500 £750,000 £837,500 £980,000 2-Bed Bungalows £425,000 £425,000 £425,000 £425,000 £425,000 £425,000 3-Bed Bungalows #DIV/0! £0 #NUM! #NUM! #NUM! £0 4-Bed Bungalows #DIV/0! £0 #NUM! #NUM! #NUM! £0 4 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants Table 1b: Buckhurst Hill East (54 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £400,000 n/a £850,000 Semi-Detached n/a #DIV/0! £466,939 £563,000 Terraced n/a £382,500 £415,000 £445,000 Flats £207,498 £274,499 n/a n/a Bungalows n/a £389,995 n/a n/a Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £207,498 £165,000 £186,249 £207,498 £228,746 £249,995 2-Bed Flats £274,499 £210,000 £223,750 £257,500 £312,500 £385,000 2-Bed Houses £388,333 £350,000 £375,000 £400,000 £407,500 £415,000 3-Bed Houses £448,389 £275,000 £418,738 £452,500 £477,500 £625,000 4-Bed Houses £585,000 £425,000 £466,250 £522,500 £671,250 £850,000 2-Bed Bungalows £389,995 £389,995 £389,995 £389,995 £389,995 £389,995 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a Table 1c: Chigwell Village (43 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £1,036,667 £937,499 Semi-Detached n/a £346,665 £398,998 £631,665 Terraced n/a n/a £400,000 £850,000 Flats £325,000 £327,499 n/a n/a Bungalows n/a n/a n/a n/a Overall 3rd Average Minimum 1st Quartile Median Quartile Maximum 1-Bed Flats £325,000 £325,000 £325,000 £325,000 £325,000 £325,000 2-Bed Flats £327,499 £200,000 £237,500 £324,998 £414,996 £460,000 2-Bed Houses £346,665 £325,000 £332,498 £339,995 £357,498 £375,000 3-Bed Houses £638,437 £350,000 £389,999 £417,500 £896,250 £1,750,000 4-Bed Houses £836,314 £480,000 £612,500 £750,000 £912,498 £1,475,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a 5 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants Table 1d: Chigwell Row (141 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £389,998 £848,744 Semi-Detached n/a £328,333 £309,443 £432,500 Terraced n/a £282,790 £309,690 £393,999 Flats £161,499 £250,956 n/a n/a Bungalows n/a £392,498 £299,995 n/a Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £161,499 £105,000 £153,746 £169,998 £170,000 £190,000 2-Bed Flats £250,956 £169,995 £192,499 £204,975 £279,995 £500,000 2-Bed Houses £294,671 £219,995 £249,998 £272,500 £324,998 £525,000 3-Bed Houses £312,173 £230,000 £269,995 £299,995 £350,000 £475,000 4-Bed Houses £617,056 £279,995 £389,999 £565,000 £675,000 £1,999,950 2-Bed Bungalows £392,498 £299,995 £346,246 £392,498 £438,749 £485,000 3-Bed Bungalows £299,995 £299,995 £299,995 £299,995 £299,995 £299,995 4-Bed Bungalows n/a n/a n/a n/a n/a n/a Table 1e: Chipping Ongar, Greensted and Marden Ash (65 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £441,225 £604,300 Semi-Detached n/a £287,475 £319,994 £351,663 Terraced n/a £239,950 £335,230 £900,000 Flats £173,969 £195,516 n/a n/a Bungalows n/a £323,738 n/a £522,500 Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £173,969 £169,950 £169,995 £174,950 £175,000 £179,950 2-Bed Flats £195,516 £159,950 £194,950 £199,950 £199,995 £219,950 2-Bed Houses £263,713 £239,950 £239,950 £244,950 £268,713 £325,000 3-Bed Houses £348,890 £219,950 £299,950 £325,000 £395,000 £600,000 4-Bed Houses £581,190 £330,000 £359,984 £427,475 £599,250 £2,000,000 2-Bed Bungalows £323,738 £285,000 £307,500 £325,000 £341,238 £359,950 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows £522,500 £450,000 £486,250 £522,500 £558,750 £595,000 6 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants Table 1f: Shelley (27 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £395,983 £508,332 Semi-Detached n/a £249,950 £313,106 £295,000 Terraced n/a £235,000 £284,973 n/a Flats £119,148 £190,473 n/a n/a Bungalows n/a £280,000 n/a n/a Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £119,148 £109,950 £109,973 £109,995 £123,748 £137,500 2-Bed Flats £190,473 £164,995 £188,961 £198,450 £199,961 £199,995 2-Bed Houses £242,475 £235,000 £238,738 £242,475 £246,213 £249,950 3-Bed Houses £327,903 £269,950 £285,000 £300,000 £359,950 £419,000 4-Bed Houses £454,999 £295,000 £373,750 £449,998 £531,246 £625,000 2-Bed Bungalows £280,000 £280,000 £280,000 £280,000 £280,000 £280,000 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a Table 1g: Epping Hemnall (82 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £380,000 £740,000 £940,937 Semi-Detached n/a £375,000 £499,158 £532,475 Terraced n/a £341,989 £398,571 £608,242 Flats £225,713 £290,565 n/a n/a Bungalows n/a £350,000 £551,979 n/a Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £225,713 £190,000 £195,000 £220,000 £254,995 £270,000 2-Bed Flats £290,565 £230,000 £241,250 £266,250 £287,495 £475,000 2-Bed Houses £352,135 £280,000 £339,973 £350,000 £377,500 £400,000 3-Bed Houses £500,309 £350,000 £406,250 £460,000 £559,999 £795,000 4-Bed Houses £823,725 £489,950 £597,499 £699,998 £956,250 £1,500,000 2-Bed Bungalows £350,000 £350,000 £350,000 £350,000 £350,000 £350,000 3-Bed Bungalows £551,979 £499,950 £499,995 £559,950 £575,000 £625,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a 7 EB300D Epping Forest District Council D|S|P Planning & Development Viability Consultants Table 1h: Epping Lindsey (only) (57 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £379,950 £735,000 £698,211 Semi-Detached n/a £354,997 £457,485 £633,333 Terraced n/a £298,333 £347,611 £423,748 Flats £174,995 £288,333 n/a n/a Bungalows n/a £537,475 n/a £595,000 Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £174,995 £174,995 £174,995 £174,995 £174,995 £174,995 2-Bed Flats £288,333 £180,000 £215,000 £250,000 £342,500 £435,000 2-Bed Houses £334,277 £255,000 £300,000 £340,000 £372,473 £399,995 3-Bed Houses £443,986 £285,000 £350,000 £404,998 £462,500 £795,000 4-Bed Houses £619,941 £270,000 £567,473 £650,000 £725,000 £810,000 2-Bed Bungalows £537,475 £524,950 £531,213 £537,475 £543,738 £550,000 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows £595,000 £595,000 £595,000 £595,000 £595,000 £595,000 Table 1i: Loughton St John’s (72 properties) 1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £536,818 £961,167 Semi-Detached n/a £404,000 £496,785 £594,499 Terraced n/a £310,000 £342,500 n/a Flats £186,999 £299,278 n/a n/a Bungalows n/a £555,000 n/a n/a Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £186,999 £175,000 £180,000 £185,000 £195,000 £199,995 2-Bed Flats £299,278 £219,950 £257,500 £269,995 £337,500 £415,000 2-Bed Houses £388,333 £280,000 £310,000 £342,500 £438,750 £595,000 3-Bed
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