1B, MILL LANE, CORTON, LOWESTOFT, NR32 5HZ - £220,000

Based on the August 2024 Price Paid Data (released on 27th September 2024), the July 2024 House Price Index (released on 18th September 2024), and the August 2024 Energy Performance of Buildings Data (released on 3rd October 2024). Sources

1B MILL LANE is a small detached house of 80m², built sometime from 2007 onwards. It was last sold for £220,000 in April 2018, which was around 35% below the average April 2018 detached price in the East Suffolk local authority area. The most recent EPC inspection was December 2012, where the current energy rating was C, and the potential energy rating was B.

1B MILL LANE Sold Prices

Land registry data shows three sales for 1B MILL LANE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the East Suffolk local authority area for the corresponding sale date. All of the three 1B MILL LANE sales were for below 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
2018 16 APR	£220,000	£339,174	35% below HPI
2015 3 JUL	£190,000	£296,792	36% below HPI
2007 25 APR	£185,000	£245,221	25% below HPI

1B MILL LANE Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Suffolk local authority area over time, sourced from the HPI. The three 1B MILL LANE sales between April 2007 and April 2018 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 July 2015 sale was for 36% below the HPI. So the extrapolation line tracks at 36% below the HPI over time, until the April 2018 sale, where it rises to 35% below the HPI. The line then continues to track at 35% below the HPI.

How Large is 1B MILL LANE?

1B MILL LANE is 80m² according to the EPC inspection conducted in December 2012. This puts it in the smallest 30% of detached houses in Corton, based on EPC data. The below chart shows the distribution of detached houses by size in Corton, and where 1B MILL LANE lies on this distribution: 29% of detached houses are smaller than 1B MILL LANE, and 70% of houses are larger. Note that EPC data is not available for all properties in Corton.

1B MILL LANE: Plot and Title Map

1B MILL LANE sits on a plot of roughly 0.053 of an acre, or 214m². The below map shows the location of 1B MILL LANE, 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 1B MILL LANE). 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 1B MILL LANE?

1B MILL LANE is located in CORTON, in the NR32 postcode district. The below map shows the position of No. 1B on MILL LANE.