According to the public record, Flat 31, Well House, Banstead is a mid-century leasehold apartment with 893 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms with a balcony.
The apartment is in Well House, Woodmansterne Lane, Banstead, SM7.
Woodmansterne Lane, Banstead, SM7 is located in the borough of Reigate and Banstead within the SM7 postal district.
Flat 31, Well House, Banstead has 2 entries in the Land Registry database, most recently in August 2023 and a single entry in the EPC database dated February 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 Flat 31 Well House Banstead as £356,216 and the rental value as £1,932 per month giving an expected gross yield of 6.5%.
Over the last 12 months the sale value of Flat 31 Well House Banstead has increased by £1,281 (0.4%) and its rental value has increased by £79 per month (4.1%).
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 Flat 31, Well House, Banstead is in very good condition we estimate a sale value of £374,027 and rental value of £2,028 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £331,281 and a rental value of £1,796 per month.
If you were able to purchase this property for the estimated value of £356,216, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £1,751 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, Flat 31, Well House, Banstead was last sold on 04 Aug 2023 for £405,000 and was recorded as a leasehold flat.
The property has had 2 sales since 1995.
Since Aug 2023, the market for similar properties has risen 0.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 31, Well House, Banstead within a radius of 750 metres over the last 2 years.
The most recent example is Flat 4, Well House, Woodmansterne Lane, Banstead, SM7 3AA, a Leasehold flat which sold for £335,000 in Apr 2023.
Read more about house prices in SM7.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Woodmansterne Lane, Banstead, SM7 has a total of 121 addresses. According to our analysis of all the public data, Flat 31, Well House, Banstead is the 63rd largest and the 78th most expensive property on the street.
When compared to the postcode district it is £312k less expensive than the average property in SM7.
Flat 31, Well House, Banstead has an Energy Performance Rating (EPC) of D. This is based on the most recent assessment, dated 08 Feb 2019.
The property is connected to mains gas and has fully double glazed windows. It is heated using warm air.
The closest station to Flat 31, Well House, Banstead is Banstead station which is 1.4 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 Flat 31, Well House, Banstead, 41.6% of property is privately owned outright and 27.4% is socially 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 Flat 31, Well House, Banstead, 15.1% of residents are recorded as possessing school level qualifications and 30.0% 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 Flat 31, Well House, Banstead, the average age was 44.8 and the most common age was 57.
The graph below shows how this compares to South 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 Flat 31, Well House, Banstead, 1.8% of property was a second home.
Comparison figures for South 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 Flat 31, Well House, Banstead, there are an average of 1.1 cars per household.
See below for how this compares to South East and the rest of England & Wales.