According to the public record, 1, Mill Race Court, Morpeth is a leasehold apartment.
By comparing it to neighbours, we estimate that it is a modern apartment with 695 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms.
Mill Race Court, Morpeth, NE61 is located within the NE61 postal district.
1, Mill Race Court, Morpeth has 2 entries in the Land Registry database, most recently in September 2006 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 1 Mill Race Court Morpeth as £228,147 and the rental value as £1,204 per month giving an expected gross yield of 6.3%.
Over the last 12 months the sale value of 1 Mill Race Court Morpeth has increased by £530 (0.2%) and its rental value has increased by £84 per month (6.9%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 1, Mill Race Court, Morpeth is in very good condition we estimate a sale value of £239,554 and rental value of £1,264 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £212,177 and a rental value of £1,120 per month.
If you were able to purchase this property for the estimated value of £228,147, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,121 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 1, Mill Race Court, Morpeth was last sold on 14 Sep 2006 for £215,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 1, Mill Race Court, Morpeth within a radius of 670 metres over the last 2 years.
The most recent example is 22 William Turner Court, Goose Hill, Morpeth, NE61 1US, a Leasehold flat which sold for £210,000 in Mar 2024.
Read more about house prices in NE61.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Mill Race Court, Morpeth, NE61 has a total of 25 addresses. According to our analysis of all the public data, 1, Mill Race Court, Morpeth is the 20th largest and the 19th most expensive property on the street.
When compared to the postcode district it is £31k less expensive than the average property in NE61.
The closest station to 1, Mill Race Court, Morpeth is Morpeth station which is 600 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around 1, Mill Race Court, Morpeth, 42.7% of property is privately owned outright and 26.6% is privately owned with a mortgage.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 1, Mill Race Court, Morpeth, 11.7% of residents are recorded as possessing school level qualifications and 31.6% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 1, Mill Race Court, Morpeth, the average age was 48.3 and the most common age was 62.
The graph below shows how this compares to North East and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 1, Mill Race Court, Morpeth, 1.0% of property was a second home.
Comparison figures for North East and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 1, Mill Race Court, Morpeth, there are an average of 1.0 cars per household.
See below for how this compares to North East and the rest of England & Wales.