3, MILL LANE, CORTON, LOWESTOFT, NR32 5HZ - £225,000

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.

3 MILL LANE is a very small extended detached house of 70m², built sometime before 1900, which could now be worth an estimated £220,112. It was last sold for £225,000 in September 2023, which was around 48% below the average September 2023 detached price in the East Suffolk local authority area. The most recent EPC inspection was June 2022, where the current energy rating was D, and the potential energy rating was B.

3 MILL LANE Sold Prices

Land registry data shows two sales for 3 MILL LANE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the East Suffolk local authority area for the corresponding sale date. Both of the two 3 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
2023 28 SEP	£225,000	£432,441	48% below HPI
2014 12 JUN	£124,995	£273,800	54% below HPI

3 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 two 3 MILL LANE sales from June 2014 and September 2023 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 June 2014 sale was for 54% below the HPI. So the extrapolation line tracks at 54% below the HPI over time, until the September 2023 sale, where it rises to 48% below the HPI. The line then continues to track at 48% below the HPI.

What might 3 MILL LANE be worth now?

3 MILL LANE might now be worth an estimated £220,112.

This is based on house price deflation of 2.2%, between September 2023 and February 2025, for detached houses, in the East Suffolk local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 2.2% deflationary decrease is applied to the most recent sale price for 3 MILL LANE of £225,000 on 28th September 2023. For the value to have decreased from £225,000 to £220,112 over the two years and seven months to February 2025, the following assumptions must hold true:

• The value of 3 MILL LANE has moved in line with the HPI for detached houses in the East Suffolk local authority area.
• The September 2023 sale price of £225,000 represented a fair market value for the property.
• The size, condition, and specification of 3 MILL LANE has not materially changed since September 2023.

How Large is 3 MILL LANE?

3 MILL LANE is 70m², which includes two extensions, according to the EPC inspection conducted in June 2022. This puts it in the smallest 20% of detached houses houses in Corton, based on EPC data. The below chart shows the distribution of detached houses houses by size in Corton, and where 3 MILL LANE lies on this distribution: 16% of detached houses houses are smaller than 3 MILL LANE, and 84% of houses are larger. Note that EPC data is not available for all properties in Corton.

3 MILL LANE: Plot and Title Map

3 MILL LANE sits on a plot of roughly 0.051 of an acre, or 208m². The below map shows the location of 3 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 3 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 3 MILL LANE?

3 MILL LANE is located in CORTON, in the NR32 postcode district. The below map shows the position of No. 3 on MILL LANE.