According to the public record, 7 East Mill is a leasehold house.
By comparing it to neighbours, we estimate that it is a period house with 1,312 ft2 of internal area and sits on a 6,226 m2 plot and a garden.
Houses of this size in this area normally have 4 bedrooms.
Morpeth, NE61 is located within the NE61 postal district.
7 East Mill has 2 entries in the Land Registry database, most recently in February 2021 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 7 East Mill as £475,248 and the rental value as £1,276 per month giving an expected gross yield of 3.2%.
Over the last 12 months the sale value of 7 East Mill has decreased by £9,059 (1.9%) and its rental value has increased by £59 per month (4.7%).
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 7 East Mill is in very good condition we estimate a sale value of £499,010 and rental value of £1,340 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £441,981 and a rental value of £1,187 per month.
If you were able to purchase this property for the estimated value of £475,248, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £2,336 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 data from HM Land Registry, 7 East Mill sits on a plot of 6226m2.
We have plot size data on 3 out of 5 other houses in the postcode and 7 East Mill sits on the largest plot.
According to HM Land Registry, 7 East Mill was last sold on 08 Feb 2021 for £380,000 and was recorded as a leasehold house.
The property has had 2 sales since 1995.
Since Feb 2021, the market for similar properties has risen 9.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 7 East Mill within a radius of 1.1 kilometres over the last 2 years.
The most recent example is 5, Crawford Cottages, Morpeth, NE61 1TG, a Freehold house which sold for £305,000 in Dec 2021.
Read more about house prices in NE61.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Morpeth, NE61 has a total of 258 addresses. According to our analysis of all the public data, 7 East Mill is the 152nd largest and the 85th most expensive property on the street.
When compared to the postcode district it is £216k more expensive than the average property in NE61.
The closest station to 7 East Mill is Morpeth station which is 1.1 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 7 East Mill, 46.3% of property is privately owned with a mortgage and 35.8% is privately owned outright.
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 7 East Mill, 18.6% of residents are recorded as possessing school level qualifications and 55.5% 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 7 East Mill, the average age was 45.1 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 7 East Mill, 0.8% 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 7 East Mill, there are an average of 1.4 cars per household.
See below for how this compares to North East and the rest of England & Wales.