According to the public record, 257, Laygate, South Shields is a mid-century leasehold apartment with 753 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms.
Laygate, South Shields, NE33 is located in the borough of South Tyneside within the NE33 postal district.
257, Laygate, South Shields has a single entry in the Land Registry database from January 2007 and a single entry in the EPC database dated November 2019.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 257 Laygate South Shields as £78,078 and the rental value as £533 per month giving an expected gross yield of 8.2%.
Over the last 12 months the sale value of 257 Laygate South Shields has increased by £1,459 (1.9%) and its rental value has increased by £50 per month (9.5%).
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 257, Laygate, South Shields is in very good condition we estimate a sale value of £81,982 and rental value of £559 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £72,613 and a rental value of £495 per month.
If you were able to purchase this property for the estimated value of £78,078, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £384 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, 257, Laygate, South Shields was last sold on 31 Jan 2007 for £52,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Jan 2007, the market for similar properties has dropped 4.6%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 257, Laygate, South Shields within a radius of 420 metres over the last 2 years.
The most recent example is 76, Chichester Road, South Shields, NE33 4HF, a Leasehold flat which sold for £81,500 in Dec 2021.
Read more about house prices in NE33.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Laygate, South Shields, NE33 has a total of 144 addresses. According to our analysis of all the public data, 257, Laygate, South Shields is the 62nd largest and the 68th most expensive property on the street.
When compared to the postcode district it is £64k less expensive than the average property in NE33.
257, Laygate, South Shields has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 28 Nov 2019.
The property is connected to mains gas and has single glazed windows. It is heated using a boiler and radiators.
The closest station to 257, Laygate, South Shields is Northumberland Park (Tyne & Wear) station which is 7.4 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 257, Laygate, South Shields, 82.3% of property is socially rented and 8.9% is privately rented.
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 257, Laygate, South Shields, 19.4% of residents are recorded as possessing school level qualifications and 20.0% 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 257, Laygate, South Shields, the average age was 40.6 and the most common age was 32.
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 257, Laygate, South Shields, 0.4% 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 257, Laygate, South Shields, there are an average of 0.4 cars per household.
See below for how this compares to North East and the rest of England & Wales.