38, MILL LANE, MERSTHAM, REDHILL, RH1 3HQ - £319,000

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.

38 MILL LANE is a very small semi-detached house of 49m², built sometime between 1983 and 1990, which could now be worth an estimated £361,307. It was last sold for £319,000 in May 2021, which was around 32% below the average May 2021 semi-detached price in the Reigate and Banstead local authority area. The most recent EPC inspection was June 2020, where the current energy rating was D, and the potential energy rating was B.

38 MILL LANE Sold Prices

Land registry data shows four sales for 38 MILL LANE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average semi-detached price in the Reigate and Banstead local authority area for the corresponding sale date. All of the four 38 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
2021 6 MAY	£319,000	£466,957	32% below HPI
2019 1 FEB	£287,000	£437,477	34% below HPI
2005 9 DEC	£180,000	£254,166	29% below HPI
1997 12 SEP	£78,000	£103,322	25% below HPI

38 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 four 38 MILL LANE sales between September 1997 and May 2021 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 February 2019 sale was for 34% below the HPI. So the extrapolation line tracks at 34% below the HPI over time, until the May 2021 sale, where it rises to 32% below the HPI. The line then continues to track at 32% below the HPI.

What might 38 MILL LANE be worth now?

38 MILL LANE might now be worth an estimated £361,307.

This is based on house price inflation of 13.3%, between May 2021 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 13.3% inflationary increase is applied to the most recent sale price for 38 MILL LANE of £319,000 on 6th May 2021. For the value to have increased from £319,000 to £361,307 over the four years and three months to February 2025, the following assumptions must hold true:

• The value of 38 MILL LANE has moved in line with the HPI for semi-detached houses in the Reigate and Banstead local authority area.
• The May 2021 sale price of £319,000 represented a fair market value for the property.
• The size, condition, and specification of 38 MILL LANE has not materially changed since May 2021.

How Large is 38 MILL LANE?

38 MILL LANE is 49m² according to the EPC inspection conducted in June 2020. 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 38 MILL LANE lies on this distribution: Less than 1% of semi-detached houses houses are smaller than 38 MILL LANE, and more than 99% of houses are larger. Note that EPC data is not available for all properties in South Merstham.

38 MILL LANE: Plot and Title Map

38 MILL LANE sits on a plot of roughly 0.029 of an acre, or 116m². The below map shows the location of 38 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 38 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 38 MILL LANE?

38 MILL LANE is located in MERSTHAM, in the RH1 postcode district. The below map shows the position of No. 38 on MILL LANE.