2, MILLS WAY, CHIPPING, PRESTON, PR3 2DP - £485,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

2 MILLS WAY is a midsized detached house of 129m², built in 2021, which could now be worth an estimated £503,657. It was last sold for £485,000 in December 2022, which was around 18% above the average December 2022 detached price in the Ribble Valley local authority area. The most recent EPC inspection was June 2021, where the current energy rating was B, and the potential energy rating was A.

2 MILLS WAY Sold Prices

Land registry data shows three sales for 2 MILLS WAY since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Ribble Valley local authority area for the corresponding sale date. Two of the three 2 MILLS WAY sales were for above the average price, whilst one was 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
2022 9 DEC	£485,000	£412,272	18% above HPI
2021 20 AUG	£440,000	£379,073	16% above HPI
2015 18 SEP	£25,000	£328,514	92% below HPI

2 MILLS WAY Price Paid vs. HPI Average

The below graph shows the average detached house price in the Ribble Valley local authority area over time, sourced from the HPI. The three 2 MILLS WAY sales between September 2015 and December 2022 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 August 2021 sale was for 16% above the HPI. So the extrapolation line tracks at 16% above the HPI over time, until the December 2022 sale, where it rises to 18% above the HPI. The line then continues to track at 18% above the HPI.

What might 2 MILLS WAY be worth now?

2 MILLS WAY might now be worth an estimated £503,657.

This is based on house price inflation of 3.8%, between December 2022 and December 2024, for detached houses, in the Ribble Valley local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 3.8% inflationary increase is applied to the most recent sale price for 2 MILLS WAY of £485,000 on 9th December 2022. For the value to have increased from £485,000 to £503,657 over the two years to December 2024, the following assumptions must hold true:

• The value of 2 MILLS WAY has moved in line with the HPI for detached houses in the Ribble Valley local authority area.
• The December 2022 sale price of £485,000 represented a fair market value for the property.
• The size, condition, and specification of 2 MILLS WAY has not materially changed since December 2022.

How Large is 2 MILLS WAY?

2 MILLS WAY is 129m² according to the EPC inspection conducted in June 2021. This puts it in the largest 50% of detached houses houses in Chipping, based on EPC data. The below chart shows the distribution of detached houses houses by size in Chipping, and where 2 MILLS WAY lies on this distribution: 44% of detached houses houses are smaller than 2 MILLS WAY, and 47% of houses are larger. Note that EPC data is not available for all properties in Chipping.

2 MILLS WAY: Plot and Title Map

2 MILLS WAY sits on a plot of roughly 0.141 of an acre, or 572m². The below map shows the location of 2 MILLS WAY, 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 2 MILLS WAY). 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 2 MILLS WAY?

2 MILLS WAY is located in CHIPPING, in the PR3 postcode district. The below map shows the position of No. 2 on MILLS WAY.