According to the public record, 2, Mill Lane, Colchester is a freehold house.
By comparing it to neighbours, we estimate that it is a period house with 1,521 ft2 of internal area and a garden.
Houses of this size in this area normally have 4 bedrooms.
Mill Lane, Colne Engaine, Colchester, CO6 is located in the borough of Braintree within the CO6 postal district.
2, Mill Lane, Colchester has 31 entries in the Land Registry database, most recently in May 2007 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 2 Mill Lane Colchester as £485,197 and the rental value as £1,757 per month giving an expected gross yield of 4.3%.
Over the last 12 months the sale value of 2 Mill Lane Colchester has decreased by £6,291 (1.3%) and its rental value has increased by £70 per month (4.0%).
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 2, Mill Lane, Colchester is in very good condition we estimate a sale value of £509,456 and rental value of £1,844 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £451,233 and a rental value of £1,634 per month.
If you were able to purchase this property for the estimated value of £485,197, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £2,385 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, 2, Mill Lane, Colchester was last sold on 03 May 2007 for £399,950 and was recorded as a freehold house.
The property has had 3 sales since 1995.
Since May 2007, the market for similar properties has risen 61.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 2, Mill Lane, Colchester within a radius of 2.1 kilometres over the last 2 years.
The most recent example is 5, Mill Lane, Colchester, CO6 2HY, a Freehold house which sold for £485,000 in Sep 2021.
Read more about house prices in CO6.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Mill Lane, Colne Engaine, Colchester, CO6 has a total of 20 addresses. According to our analysis of all the public data, 2, Mill Lane, Colchester is the 10th largest and the 9th most expensive property on the street.
When compared to the postcode district it is £48k more expensive than the average property in CO6.
The closest station to 2, Mill Lane, Colchester is Chappel & Wakes Colne station which is 4.8 kilometres 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 2, Mill Lane, Colchester, 51.9% of property is privately owned outright and 35.1% 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 2, Mill Lane, Colchester, 14.4% of residents are recorded as possessing school level qualifications and 33.9% 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 2, Mill Lane, Colchester, the average age was 43.9 and the most common age was 52.
The graph below shows how this compares to East of England 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 2, Mill Lane, Colchester, 1.3% of property was a second home.
Comparison figures for East of England 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 2, Mill Lane, Colchester, there are an average of 1.9 cars per household.
See below for how this compares to East of England and the rest of England & Wales.