2, MILL CLOSE, NORTH SHIELDS, NE29 7QE - £105,500

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.

2 MILL CLOSE is a very small terraced house of 43m², built sometime between 2003 and 2006, which could now be worth an estimated £113,824. It was last sold for £105,500 in January 2024, which was around 41% below the average January 2024 terraced price in the North Tyneside local authority area. The most recent EPC inspection was June 2014, where the current energy rating was C, and the potential energy rating was B.

2 MILL CLOSE Sold Prices

Land registry data shows two sales for 2 MILL CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average terraced price in the North Tyneside local authority area for the corresponding sale date. Both of the two 2 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
2024 31 JAN	£105,500	£179,696	41% below HPI
2017 11 DEC	£70,000	£140,244	50% below HPI

2 MILL CLOSE Price Paid vs. HPI Average

The below graph shows the average terraced house price in the North Tyneside local authority area over time, sourced from the HPI. The two 2 MILL CLOSE sales from December 2017 and January 2024 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 December 2017 sale was for 50% below the HPI. So the extrapolation line tracks at 50% below the HPI over time, until the January 2024 sale, where it rises to 41% below the HPI. The line then continues to track at 41% below the HPI.

What might 2 MILL CLOSE be worth now?

2 MILL CLOSE might now be worth an estimated £113,824.

This is based on house price inflation of 7.9%, between January 2024 and April 2026, for terraced 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 7.9% inflationary increase is applied to the most recent sale price for 2 MILL CLOSE of £105,500 on 31st January 2024. For the value to have increased from £105,500 to £113,824 over the one year and nine months to April 2026, the following assumptions must hold true:

• The value of 2 MILL CLOSE has moved in line with the HPI for terraced houses in the North Tyneside local authority area.
• The January 2024 sale price of £105,500 represented a fair market value for the property.
• The size, condition, and specification of 2 MILL CLOSE has not materially changed since January 2024.

How Large is 2 MILL CLOSE?

2 MILL CLOSE is 43m² according to the EPC inspection conducted in June 2014. This puts it in the smallest 10% of terraced houses houses in Tynemouth, based on EPC data. The below chart shows the distribution of terraced houses houses by size in Tynemouth, and where 2 MILL CLOSE lies on this distribution: Less than 1% of terraced houses houses are smaller than 2 MILL CLOSE, and more than 99% of houses are larger. Note that EPC data is not available for all properties in Tynemouth.

2 MILL CLOSE: Plot and Title Map

2 MILL CLOSE sits on a plot of roughly 0.018 of an acre, or 72m². The below map shows the location of 2 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 2 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 2 MILL CLOSE?

2 MILL CLOSE is located in NORTH SHIELDS, in the NE29 postcode district. The below map shows the position of No. 2 on MILL CLOSE.