48, Mill Lane
48, Mill Lane
Description & Estimates
The public record lists 48, Mill Lane, Redhill as a leasehold apartment.
Comparison with its neighbours suggests a modern apartment with 640 ft2 of internal area.
In this area, apartments of this size normally have 2 bedrooms.
48, Mill Lane, Redhill has an estimated sale value of £281,739 and an estimated rental value of £1,402 per month, assuming reasonable condition and based on the information available.
Mill Lane, Merstham, Redhill, RH1 lies in the borough of Reigate and Banstead, within the RH1 postal district.
Our Data Sources
48, Mill Lane, Redhill has 41 entries in the Land Registry , most recently in April 2021 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
The local information is scored as 5 out of 5 and is considered of high accuracy.
Price Range & Condition
In very good condition, we estimate 48, Mill Lane, Redhill would be worth £295,826, with a potential rental value of £1,472 per month.
If substantial cosmetic improvements are needed, the estimated sale value falls to £262,017, with a rental value of £1,304 per month.
The extent to which decoration affects a property's value depends on its type, size and location.
Recent Market Change
The estimated sale value of 48, Mill Lane, Redhill has declined by £533 (0.2%) over the last year. During the same period, its estimated monthly rental value has climbed by £70 (5.0%). The property's estimated gross yield is currently 6.0%.
Sold Prices
48, Mill Lane, Redhill last changed hands on 6th April 2021, selling for £272,000. The transaction was logged as a leasehold flat by HM Land Registry.
In total it has sold 4 times since 1995.
The market for similar properties has dropped by 7.6% since April 2021.
- Sold Apr 2021£272,000
- Sold Jan 2017£265,000
- Sold May 2008£190,000
Similar Properties Sold Nearby
Land Registry records and our Estate Agent network show 3 sales of comparable properties within 790 metres of 48, Mill Lane, Redhill across the last 2 years.
Most recently, 46, Mill Lane, Redhill, RH1 3HQ, a leasehold flat, sold at £300,350 on the 18th September 2023.
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
Our analysis of the public data ranks 48, Mill Lane, Redhill as the 13th largest and the 26th most expensive of the 36 addresses on Mill Lane, Merstham, Redhill, RH1.
Against the RH1 postcode district average, it is £172k less expensive than the typical property.
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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
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Public Transport Nearby
Merstham station is the nearest stop to 48, Mill Lane, Redhill at 1.4 kilometres away.
- 1.4kmMerstham
- 1.9kmRedhill
- 2.9kmNutfield
Available Internet Speeds
Ofcom's latest figures show ultrafast broadband available in this area.
According to recent data from Ofcom, Ultrafast broadband is available in the area.
Risk of Flooding
Environment Agency data suggests this area has a very low risk of flooding.
