1, MILL CLOSE, TIPTREE, COLCHESTER, CO5 0LE - £485,000

The information on this page is based on a number of underlying datasets, most of which are updated monthly. We maintain an update schedule which explains which version of each dataset we are currently relying on.

1 MILL CLOSE is a large detached house of 140m², built sometime between 1996 and 2002, which could now be worth an estimated £557,064. It was last sold for £485,000 in April 2021, which was around 11% above the average April 2021 detached price in the Colchester local authority area. The most recent EPC inspection was September 2020, where the current energy rating was C, and the potential energy rating was B.

1 MILL CLOSE Sold Prices

Land registry data shows three sales for 1 MILL CLOSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Colchester local authority area for the corresponding sale date. All of the three 1 MILL CLOSE sales were for above the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2021 14 APR	£485,000	£437,270	11% above HPI
2004 8 OCT	£267,500	£264,891	1% above HPI
1999 29 OCT	£169,995	£126,312	35% above HPI

1 MILL CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Colchester local authority area over time, sourced from the HPI. The three 1 MILL CLOSE sales between October 1999 and April 2021 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the October 2004 sale was for 1% above the HPI. So the extrapolation line tracks at 1% above the HPI over time, until the April 2021 sale, where it rises to 11% above the HPI. The line then continues to track at 11% above the HPI.

What might 1 MILL CLOSE be worth now?

1 MILL CLOSE might now be worth an estimated £557,064.

This is based on house price inflation of 14.9%, between April 2021 and February 2025, for detached houses, in the Colchester local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 14.9% inflationary increase is applied to the most recent sale price for 1 MILL CLOSE of £485,000 on 14th April 2021. For the value to have increased from £485,000 to £557,064 over the four years and two months to February 2025, the following assumptions must hold true:

• The value of 1 MILL CLOSE has moved in line with the HPI for detached houses in the Colchester local authority area.
• The April 2021 sale price of £485,000 represented a fair market value for the property.
• The size, condition, and specification of 1 MILL CLOSE has not materially changed since April 2021.

How Large is 1 MILL CLOSE?

1 MILL CLOSE is 140m² according to the EPC inspection conducted in September 2020. This puts it in the largest 30% of detached houses houses in Tiptree, based on EPC data. The below chart shows the distribution of detached houses houses by size in Tiptree, and where 1 MILL CLOSE lies on this distribution: 74% of detached houses houses are smaller than 1 MILL CLOSE, and 26% of houses are larger. Note that EPC data is not available for all properties in Tiptree.

1 MILL CLOSE: Plot and Title Map

1 MILL CLOSE sits on a plot of roughly 0.116 of an acre, or 470m². The below map shows the location of 1 MILL CLOSE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 1 MILL CLOSE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 1 MILL CLOSE?

1 MILL CLOSE is located in TIPTREE, in the CO5 postcode district. The below map shows the position of No. 1 on MILL CLOSE.