24, MILL LANE, MERSTHAM, REDHILL, RH1 3HQ - £220,000

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.

24 MILL LANE is a very small semi-detached house of 47m², built sometime between 1983 and 1990, which could now be worth an estimated £341,532. It was last sold for £220,000 in March 2014, which was around 35% below the average March 2014 semi-detached price in the Reigate and Banstead local authority area. The most recent EPC inspection was May 2013, where the current energy rating was D, and the potential energy rating was B.

24 MILL LANE Sold Prices

Land registry data shows three sales for 24 MILL LANE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average semi-detached price in the Reigate and Banstead local authority area for the corresponding sale date. All of the three 24 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
2014 10 MAR	£220,000	£340,686	35% below HPI
2003 31 OCT	£183,000	£232,925	21% below HPI
1998 17 SEP	£95,000	£119,785	21% below HPI

24 MILL LANE Price Paid vs. HPI Average

The below graph shows the average semi-detached house price in the Reigate and Banstead local authority area over time, sourced from the HPI. The three 24 MILL LANE sales between September 1998 and March 2014 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 2003 sale was for 21% below the HPI. So the extrapolation line tracks at 21% below the HPI over time, until the March 2014 sale, where it falls to 35% below the HPI. The line then continues to track at 35% below the HPI.

What might 24 MILL LANE be worth now?

24 MILL LANE might now be worth an estimated £341,532.

This is based on house price inflation of 55.2%, between March 2014 and February 2025, for semi-detached houses, in the Reigate and Banstead local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 55.2% inflationary increase is applied to the most recent sale price for 24 MILL LANE of £220,000 on 10th March 2014. For the value to have increased from £220,000 to £341,532 over the eleven years and one month to February 2025, the following assumptions must hold true:

• The value of 24 MILL LANE has moved in line with the HPI for semi-detached houses in the Reigate and Banstead local authority area.
• The March 2014 sale price of £220,000 represented a fair market value for the property.
• The size, condition, and specification of 24 MILL LANE has not materially changed since March 2014.

How Large is 24 MILL LANE?

24 MILL LANE is 47m² according to the EPC inspection conducted in May 2013. This puts it in the smallest 10% of semi-detached houses houses in South Merstham, based on EPC data. The below chart shows the distribution of semi-detached houses houses by size in South Merstham, and where 24 MILL LANE lies on this distribution: Less than 1% of semi-detached houses houses are smaller than 24 MILL LANE, and more than 99% of houses are larger. Note that EPC data is not available for all properties in South Merstham.

24 MILL LANE: Plot and Title Map

24 MILL LANE sits on a plot of roughly 0.037 of an acre, or 148m². The below map shows the location of 24 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 24 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 24 MILL LANE?

24 MILL LANE is located in MERSTHAM, in the RH1 postcode district. The below map shows the position of No. 24 on MILL LANE.