40, MILL STREET, WEM, SHREWSBURY, SY4 5EX - £280,000

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.

40 MILL STREET is a large detached house of 131m², built sometime between 1950 and 1966, which could now be worth an estimated £293,066. It was last sold for £280,000 in March 2023, which was around 30% below the average March 2023 detached price in the Shropshire local authority area. The most recent EPC inspection was July 2020, where the current energy rating was C, and the potential energy rating was B.

40 MILL STREET Sold Prices

Land registry data shows two sales for 40 MILL STREET since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Shropshire local authority area for the corresponding sale date. One of the two 40 MILL STREET sales was for below the average price, whilst the other was roughly equal to 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 23 MAR	£280,000	£398,681	30% below HPI
2002 6 MAR	£146,500	£147,218	Close to HPI

40 MILL STREET Price Paid vs. HPI Average

The below graph shows the average detached house price in the Shropshire local authority area over time, sourced from the HPI. The two 40 MILL STREET sales from March 2002 and March 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 March 2002 sale roughly matched the HPI. So the extrapolation line tracks roughly in line with the HPI over time, until the March 2023 sale, where it falls to 30% below the HPI. The line then continues to track at 30% below the HPI.

What might 40 MILL STREET be worth now?

40 MILL STREET might now be worth an estimated £293,066.

This is based on house price inflation of 4.7%, between March 2023 and February 2025, for detached houses, in the Shropshire local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 4.7% inflationary increase is applied to the most recent sale price for 40 MILL STREET of £280,000 on 23rd March 2023. For the value to have increased from £280,000 to £293,066 over the two years and one month to February 2025, the following assumptions must hold true:

• The value of 40 MILL STREET has moved in line with the HPI for detached houses in the Shropshire local authority area.
• The March 2023 sale price of £280,000 represented a fair market value for the property.
• The size, condition, and specification of 40 MILL STREET has not materially changed since March 2023.

How Large is 40 MILL STREET?

40 MILL STREET is 131m² according to the EPC inspection conducted in July 2020. This puts it in the largest 30% of detached houses houses in Wem, based on EPC data. The below chart shows the distribution of detached houses houses by size in Wem, and where 40 MILL STREET lies on this distribution: 77% of detached houses houses are smaller than 40 MILL STREET, and 22% of houses are larger. Note that EPC data is not available for all properties in Wem.

40 MILL STREET: Plot and Title Map

40 MILL STREET sits on a plot of roughly 0.300 of an acre, or 1,213m². The below map shows the location of 40 MILL STREET, 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 40 MILL STREET). 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 40 MILL STREET?

40 MILL STREET is located in WEM, in the SY4 postcode district. The below map shows the position of No. 40 on MILL STREET.