1, MILL CLOSE, NORTH SHIELDS, NE29 7QE - £122,000

The information on this page is based on a number of underlying datasets, most of which are updated monthly. We maintain an update schedule which explains which version of each dataset we are currently relying on.

1 MILL CLOSE is a very small detached house of 55m², built sometime between 1991 and 1995, which could now be worth an estimated £183,435. It was last sold for £122,000 in August 2014, which was around 50% below the average August 2014 detached price in the North Tyneside local authority area. The most recent EPC inspection was May 2022, where the current energy rating was B, and the potential energy rating was B.

1 MILL CLOSE Sold Prices

Land registry data shows four sales for 1 MILL CLOSE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the North Tyneside local authority area for the corresponding sale date. All of the four 1 MILL CLOSE sales were for below the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2014 4 AUG	£122,000	£246,171	50% below HPI
2007 28 NOV	£140,000	£250,501	44% below HPI
2001 9 NOV	£59,000	£107,833	45% below HPI
2000 7 JUL	£54,000	£94,880	43% below HPI

1 MILL CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the North Tyneside local authority area over time, sourced from the HPI. The four 1 MILL CLOSE sales between July 2000 and August 2014 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the November 2007 sale was for 44% below the HPI. So the extrapolation line tracks at 44% below the HPI over time, until the August 2014 sale, where it falls to 50% below the HPI. The line then continues to track at 50% below the HPI.

What might 1 MILL CLOSE be worth now?

1 MILL CLOSE might now be worth an estimated £183,435.

This is based on house price inflation of 50.4%, between August 2014 and April 2026, for detached houses, in the North Tyneside local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 50.4% inflationary increase is applied to the most recent sale price for 1 MILL CLOSE of £122,000 on 4th August 2014. For the value to have increased from £122,000 to £183,435 over the twelve years and four months to April 2026, the following assumptions must hold true:

• The value of 1 MILL CLOSE has moved in line with the HPI for detached houses in the North Tyneside local authority area.
• The August 2014 sale price of £122,000 represented a fair market value for the property.
• The size, condition, and specification of 1 MILL CLOSE has not materially changed since August 2014.

How Large is 1 MILL CLOSE?

1 MILL CLOSE is 55m² according to the EPC inspection conducted in May 2022. This puts it in the smallest 10% of detached houses houses in Tynemouth, based on EPC data. The below chart shows the distribution of detached houses houses by size in Tynemouth, and where 1 MILL CLOSE lies on this distribution: 1% of detached houses houses are smaller than 1 MILL CLOSE, and 99% of houses are larger. Note that EPC data is not available for all properties in Tynemouth.

1 MILL CLOSE: Plot and Title Map

1 MILL CLOSE sits on a plot of roughly 0.052 of an acre, or 212m². The below map shows the location of 1 MILL CLOSE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 1 MILL CLOSE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 1 MILL CLOSE?

1 MILL CLOSE is located in NORTH SHIELDS, in the NE29 postcode district. The below map shows the position of No. 1 on MILL CLOSE.