According to the public record, Flat 8, Ryecroft Court 24, Lancing is a modern leasehold apartment with 473 ft2 of internal area.
Apartments of this size in this area normally have 1 bedroom.
The apartment is in Ryecroft Court, Penhill Road, Lancing, BN15.
Penhill Road, Lancing, BN15 is located in the borough of Adur within the BN15 postal district.
Flat 8, Ryecroft Court 24, Lancing has 31 entries in the Land Registry database, most recently in July 2022 and a single entry in the EPC database dated November 2023.
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 8 Ryecroft Court 24 Lancing as £166,798 and the rental value as £865 per month giving an expected gross yield of 6.2%.
Over the last 12 months the sale value of Flat 8 Ryecroft Court 24 Lancing has increased by £1,803 (1.1%) and its rental value has increased by £34 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 Flat 8, Ryecroft Court 24, Lancing is in very good condition we estimate a sale value of £175,138 and rental value of £908 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £155,122 and a rental value of £804 per month.
If you were able to purchase this property for the estimated value of £166,798, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £820 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 8, Ryecroft Court 24, Lancing was last sold on 01 Jul 2022 for £165,000 and was recorded as a leasehold flat.
The property has had 3 sales since 1995.
Since Jul 2022, the market for similar properties has dropped 2.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 8, Ryecroft Court 24, Lancing within a radius of 480 metres over the last 2 years.
The most recent example is Flat 5, Ryecroft Court 24, Penhill Road, Lancing, BN15 8HJ, a Leasehold flat which sold for £173,000 in Oct 2023.
Read more about house prices in BN15.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Penhill Road, Lancing, BN15 has a total of 187 addresses. According to our analysis of all the public data, Flat 8, Ryecroft Court 24, Lancing is the 141st largest and the 143rd most expensive property on the street.
When compared to the postcode district it is £176k less expensive than the average property in BN15.
Flat 8, Ryecroft Court 24, Lancing has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 01 Nov 2023.
The property is not connected to mains gas and has single glazed windows. It is heated using electric storage heaters.
The closest station to Flat 8, Ryecroft Court 24, Lancing is Lancing station which is 400 metres 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 8, Ryecroft Court 24, Lancing, 39.2% of property is privately rented and 32.4% 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 Flat 8, Ryecroft Court 24, Lancing, 18.8% of residents are recorded as possessing school level qualifications and 26.0% 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 8, Ryecroft Court 24, Lancing, the average age was 46.1 and the most common age was 72.
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 8, Ryecroft Court 24, Lancing, 0.0% 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 8, Ryecroft Court 24, Lancing, there are an average of 1.0 cars per household.
See below for how this compares to South East and the rest of England & Wales.