FORGE MILL COTTAGE, NEEDLE MILL LANE, REDDITCH, B98 8HY - £435,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

FORGE MILL COTTAGE is a midsized extended detached house of 108m², built sometime before 1900. It was last sold for £435,000 in March 2021, which was around 23% above the average March 2021 detached price in the Redditch local authority area. The most recent EPC inspection was December 2016, where the current energy rating was E, and the potential energy rating was C.

FORGE MILL COTTAGE Sold Prices

Land registry data shows six sales for FORGE MILL COTTAGE since 1^st January 1995. The below table shows the price paid for the six sales, along with the average detached price in the Redditch local authority area for the corresponding sale date. The six FORGE MILL COTTAGE sales were a mix of above the average price, and 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
2021 12 MAR	£435,000	£353,360	23% above HPI
2017 12 MAY	£360,000	£308,451	17% above HPI
2006 2 NOV	£300,000	£246,809	22% above HPI
2003 15 AUG	£285,000	£200,647	42% above HPI
2002 24 JAN	£225,000	£146,443	54% above HPI
2001 22 MAR	£132,000	£131,978	Close to HPI

FORGE MILL COTTAGE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Redditch local authority area over time, sourced from the HPI. The six FORGE MILL COTTAGE sales between March 2001 and March 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 May 2017 sale was for 17% above the HPI. So the extrapolation line tracks at 17% above the HPI over time, until the March 2021 sale, where it rises to 23% above the HPI. The line then continues to track at 23% above the HPI.

How Large is FORGE MILL COTTAGE?

FORGE MILL COTTAGE is 108m², which includes one extension, according to the EPC inspection conducted in December 2016. This puts it in the smallest 50% of detached houses in Redditch, based on EPC data. The below chart shows the distribution of detached houses by size in Redditch, and where FORGE MILL COTTAGE lies on this distribution: 44% of detached houses are smaller than FORGE MILL COTTAGE, and 55% of houses are larger. Note that EPC data is not available for all properties in Redditch.

FORGE MILL COTTAGE: Plot and Title Map

FORGE MILL COTTAGE sits on a plot of roughly 0.107 of an acre, or 434m². The below map shows the location of FORGE MILL COTTAGE, 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 FORGE MILL COTTAGE). 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 FORGE MILL COTTAGE?

FORGE MILL COTTAGE is located on NEEDLE MILL LANE in REDDITCH, in the B98 postcode district. The below map shows the position of FORGE MILL COTTAGE on NEEDLE MILL LANE.