40, Mill Lane
40, Mill Lane
Description & Estimates
40, Mill Lane, Redhill is recorded publicly as a modern freehold house across 495 ft2 of internal area, sitting on a 107 m2 plot.
Locally, houses of this size normally have 2 bedrooms with a garden.
Our estimate of the sale value of 40, Mill Lane, Redhill is £310,229 and its rental estimate is £1,516 per month, given the available information and assuming reasonable condition.
Mill Lane, Merstham, Redhill, RH1 falls within the RH1 postal district, in the borough of Reigate and Banstead.
Our Data Sources
40, Mill Lane, Redhill has 31 entries in the Land Registry , most recently in January 2019 and a single entry in the EPC database dated May 2017.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
The local information is scored as 5 out of 5 and is considered of high accuracy.
Price Range & Condition
The condition of a property plays an important role in determining its value, with the degree of impact varying by property type, size and location.
For 40, Mill Lane, Redhill, we estimate a market value of £325,740 and a rental value of £1,592 per month when presented in very good decorative order. Should the property require extensive cosmetic improvement, those figures would reduce to £288,513 and £1,410 per month respectively.
Recent Market Change
Over the last year, 40, Mill Lane, Redhill has seen its estimated sale value drop by £2,020 (0.7%) and its estimated rental value rise by £79 per month (5.2%). This results in an estimated gross rental yield of 5.9%.
Plot Size
HM Land Registry records the plot of land for 40, Mill Lane, Redhill as measuring 107 m2.
That makes it the 14th largest plot in the postcode, where 20 of the 24 other houses have recorded plot data.
Energy Efficiency
40, Mill Lane, Redhill has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 17 May 2017.
The property is not connected to mains gas and has fully double glazed windows. It is heated using Electric storage heaters.
Sold Prices
The most recent sale of 40, Mill Lane, Redhill completed on 21st January 2019 at £315,000 and was recorded by HM Land Registry as a freehold house.
Since 1995 the property has sold 3 times.
Values of comparable properties have risen by 23.2% over the period since January 2019.
- Sold Jan 2019£315,000
- Sold Jul 2006£192,000
- Sold Mar 2002£125,000
Similar Properties Sold Nearby
Over the past 2 years 3 properties similar to 40, Mill Lane, Redhill have sold within a radius of 800 metres, per the Land Registry and our network of Estate Agents.
The latest, on the 18th October 2021, was 30, Mill Lane, Redhill, RH1 3HQ, a freehold house which sold for £365,000.
Read more about house prices in RH1.
•Nearby is defined as the radius comprising the nearest 2,000 addresses.
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Location Comparison
Of the 36 addresses on Mill Lane, Merstham, Redhill, RH1, 40, Mill Lane, Redhill comes out as the 36th largest and the 22nd most expensive in our analysis of the public data.
It is also £144k less expensive than the average property across the RH1 district.
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Schools Nearby
- 1.0kmLime Tree Primary School and Nursery
- 1.2kmMerstham Primary School
- 1.2kmFurzefield Primary Academy
- 600mMerstham Park School
- 1.5kmCarrington School
- 2.0kmSt Bede's School
More reading links
Public Transport Nearby
From 40, Mill Lane, Redhill, the nearest station is Merstham, 1.4 kilometres away.
- 1.4kmMerstham
- 1.9kmRedhill
- 2.9kmNutfield
Available Internet Speeds
Broadband here reaches ultrafast speeds, based on recent Ofcom data.
According to recent data from Ofcom, Ultrafast broadband is available in the area.
Risk of Flooding
The flood risk here is rated very low, based on Environment Agency data.
