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

Based on the July 2024 Price Paid Data (released on 29th August 2024), the June 2024 House Price Index (released on 14th August 2024), and the July 2024 Energy Performance of Buildings Data (released on 29th August 2024). Sources

3 MILL LANE is a very small extended detached house of 70m², built sometime before 1900. 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	£432,049	48% below HPI
2014 12 JUN	£124,995	£273,758	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.

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 in Corton, based on EPC data. The below chart shows the distribution of detached houses by size in Corton, and where 3 MILL LANE lies on this distribution: 16% of detached 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.