LANE COTTAGE, OLD MILL LANE, MERSTHAM, REDHILL, RH1 3BE - £380,000

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

LANE COTTAGE is a very small extended detached house of 51m², built sometime before 1900. It was last sold for £380,000 in October 2016, which was around 49% below the average October 2016 detached price in the Reigate and Banstead local authority area. The most recent EPC inspection was May 2016, where the current energy rating was F, and the potential energy rating was B.

LANE COTTAGE Sold Prices

Land registry data shows three sales for LANE COTTAGE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Reigate and Banstead local authority area for the corresponding sale date. All of the three LANE COTTAGE 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
2016 19 OCT	£380,000	£743,384	49% below HPI
2006 11 AUG	£246,500	£437,262	44% below HPI
2002 23 MAY	£170,000	£334,875	49% below HPI

LANE COTTAGE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Reigate and Banstead local authority area over time, sourced from the HPI. The three LANE COTTAGE sales between May 2002 and October 2016 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 August 2006 sale was for 44% below the HPI. So the extrapolation line tracks at 44% below the HPI over time, until the October 2016 sale, where it falls to 49% below the HPI. The line then continues to track at 49% below the HPI.

How Large is LANE COTTAGE?

LANE COTTAGE is 51m², which includes two extensions, according to the EPC inspection conducted in May 2016. This puts it in the smallest 10% of detached houses in South Merstham, based on EPC data. The below chart shows the distribution of detached houses by size in South Merstham, and where LANE COTTAGE lies on this distribution: Less than 1% of detached houses are smaller than LANE COTTAGE, and more than 99% of houses are larger. Note that EPC data is not available for all properties in South Merstham.

LANE COTTAGE: Plot and Title Map

LANE COTTAGE sits on a plot of roughly 0.030 of an acre, or 123m². The below map shows the location of LANE 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 LANE 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 LANE COTTAGE?

LANE COTTAGE is located on OLD MILL LANE in MERSTHAM, in the RH1 postcode district. The below map shows the position of LANE COTTAGE on OLD MILL LANE.