Explore which home improvements can not only enhance your living space but also increase your property's value
The Bakehouse, Forest Lane, Hanbury, Bromsgrove, Worcestershire, B60 4HT See map
The Bakehouse Forest Lane is a 1,490 square foot detached house with a valuation of £640,000.
Since the house was last sold in January 2016 for £430,000, its value has risen by £210,000.
House features, location, and investment performance
The Bakehouse Forest Lane is a freehold detached house, built before 1900. A 2016 survey recorded the property as having 1,490 square feet of floor space and space for 2 bedrooms.
The property was a good investment for its previous owner, who made a £260,000 profit between March 1999 and January 2016.
The Bakehouse, Forest Lane, Hanbury, Bromsgrove, Worcestershire B60 4HT
Sold House Prices
Timeline of sold house prices and cost per square foot
Since The Bakehouse Forest Lane's first recorded sale in 1999, the house's price has risen by £470,000 or 11% per year.
During the same period, the price of an average home on Forest Lane increased by £601,000 or 12% per year, and the average UK home increased by 12% per year.
- Current valuation£640,000
Detached house freehold, £430 per square foot+ 49%
- Sold January 2016£430,000
Detached house freehold, £289 per square foot+ 153%
- Sold March 1999£170,000
Detached house freehold, £114 per square foot
Comparison of local and national house prices
House Prices in Forest Lane start at £452,000 for the cheapest property on the street, rising to £1,227,000 for the most expensive.
The Bakehouse Forest Lane is worth 21% less than the £809,000 average property on Forest Lane and 113% more than the £300,000 average home in England.
Cost per square foot valuation
Using local prices per square foot as benchmarks for valuation
When valuing this property, one factor we consider is the average cost per square foot (CPSF) for detached houses in the area. Based on this metric alone, the property's valuation would be £631,000.
Our valuation is at the higher end of the £332 to £516 CPSF you would have to pay for a typical detached house in Forest Lane. Factors such as features and outdoor space affect CPSF, with past sale prices reflecting these differences.
Recently sold nearbyView all
Property valuation details and commonly asked questions
- What condition is the property in?
- How is the property valuation estimated?
- Where are the figures sourced?
- What should I do if the details are incorrect?
What condition is the property in?
At a sale price of £640,000, the property’s cost per square foot indicates a better condition than the neighbouring properties or that it possesses additional features to warrant the higher price.
Making home improvements could increase the cost per square foot within the £332 to £516 per square foot range we typically see for detached houses in Forest Lane, increasing the property's value.
How is the property valuation estimated?
Every month, our Automated Valuation Model (AVM) determines property values.
Our AVM collects data from reputable sources, like HM Land Registry, and uses the data to estimate what each property is worth.
In our tests, we have found that the sale price of a property falls within our AVM's confidence range in most cases. However, there are scenarios where the valuations are not accurate. For example, if significant alterations have been made to a property recently or if a property is unique with few comparables.
For more details on the workings of our AVM, including its strengths, limitations, and how it measures up to traditional valuation methods, please refer to our guide 'How We Value Property'.
We try to make the valuations as accurate as possible, but they are estimates. When buying or selling property, you should speak to a qualified professional.
Where are the figures sourced?
Sold house prices, and data on property types/tenures, are sourced from the HM Land Registry.
There is a time delay in property sales appearing in HM Land Registry, which can be up to three months.
Other property details, such as energy efficiency, are estimates from a 2016 property survey.
What should I do if the details are incorrect?
We generate all our property valuations programmatically. They cannot be manually edited based on new information, such as evidence of redevelopment.
If any other property details are incorrect or out-of-date, they will update automatically when next surveyed.
Navigating the homeownership journey as a beginner - topics explained, useful tips, and helpful resources
Key steps for determining the right initial offer for a house, and how to navigate the negotiation process towards a final price