According to the public record, 72, Mill Lane, Hebburn is a mid-century leasehold apartment with 828 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms.
Mill Lane, Hebburn, NE31 is located in the borough of South Tyneside within the NE31 postal district.
72, Mill Lane, Hebburn has a single entry in the Land Registry database from September 2018 and a single entry in the EPC database dated October 2013.
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 72 Mill Lane Hebburn as £75,848 and the rental value as £568 per month giving an expected gross yield of 9%.
Over the last 12 months the sale value of 72 Mill Lane Hebburn has increased by £2,810 (3.7%) and its rental value has increased by £56 per month (9.8%).
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 72, Mill Lane, Hebburn is in very good condition we estimate a sale value of £79,640 and rental value of £597 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £70,538 and a rental value of £529 per month.
If you were able to purchase this property for the estimated value of £75,848, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £373 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, 72, Mill Lane, Hebburn was last sold on 28 Sep 2018 for £61,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Sep 2018, the market for similar properties has risen 19.0%
According to the Land Registry and our network of Estate Agents, there have been 2 sales of properties similar to 72, Mill Lane, Hebburn within a radius of 690 metres over the last 2 years.
The most recent example is 104, Mill Lane, Hebburn, NE31 2EU, a Leasehold flat which sold for £64,950 in Jun 2013.
Read more about house prices in NE31.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Mill Lane, Hebburn, NE31 has a total of 65 addresses. According to our analysis of all the public data, 72, Mill Lane, Hebburn is the 37th largest and the 58th most expensive property on the street.
When compared to the postcode district it is £70k less expensive than the average property in NE31.
72, Mill Lane, Hebburn has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 31 Oct 2013.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 72, Mill Lane, Hebburn is Heworth station which is 2.6 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 72, Mill Lane, Hebburn, 53.9% of property is socially rented and 21.5% 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 72, Mill Lane, Hebburn, 14.5% of residents are recorded as possessing school level qualifications and 11.7% 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 72, Mill Lane, Hebburn, the average age was 40.5 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 72, Mill Lane, Hebburn, 0.0% 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 72, Mill Lane, Hebburn, there are an average of 0.7 cars per household.
See below for how this compares to North East and the rest of England & Wales.