MERRIVALE, UNDERHAYES LANE, LAUNCESTON, PL15 8HA - £305,000

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.

MERRIVALE is a large extended detached house of 134m², built sometime from 2007 onwards, which could now be worth an estimated £376,374. It was last sold for £305,000 in August 2020, which was around 14% below the average August 2020 detached price in the Cornwall local authority area. The most recent EPC inspection was June 2020, where the current energy rating was C, and the potential energy rating was B.

MERRIVALE Sold Prices

Land registry data shows four sales for MERRIVALE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the Cornwall local authority area for the corresponding sale date. All of the four MERRIVALE 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
2020 14 AUG	£305,000	£354,316	14% below HPI
2010 8 OCT	£245,000	£290,087	16% below HPI
2007 20 NOV	£112,000	£306,692	63% below HPI
2007 29 JUN	£60,000	£291,458	79% below HPI

MERRIVALE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Cornwall local authority area over time, sourced from the HPI. The four MERRIVALE sales between June 2007 and August 2020 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 October 2010 sale was for 16% below the HPI. So the extrapolation line tracks at 16% below the HPI over time, until the August 2020 sale, where it rises to 14% below the HPI. The line then continues to track at 14% below the HPI.

What might MERRIVALE be worth now?

MERRIVALE might now be worth an estimated £376,374.

This is based on house price inflation of 23.4%, between August 2020 and February 2025, for detached houses, in the Cornwall local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 23.4% inflationary increase is applied to the most recent sale price for MERRIVALE of £305,000 on 14th August 2020. For the value to have increased from £305,000 to £376,374 over the five years and six months to February 2025, the following assumptions must hold true:

• The value of MERRIVALE has moved in line with the HPI for detached houses in the Cornwall local authority area.
• The August 2020 sale price of £305,000 represented a fair market value for the property.
• The size, condition, and specification of MERRIVALE has not materially changed since August 2020.

How Large is MERRIVALE?

MERRIVALE is 134m², which includes two extensions, according to the EPC inspection conducted in June 2020. This puts it in the largest 40% of detached houses houses in Launceston, based on EPC data. The below chart shows the distribution of detached houses houses by size in Launceston, and where MERRIVALE lies on this distribution: 65% of detached houses houses are smaller than MERRIVALE, and 34% of houses are larger. Note that EPC data is not available for all properties in Launceston.

MERRIVALE: Plot and Title Map

MERRIVALE sits on a plot of roughly 0.078 of an acre, or 314m². The below map shows the location of MERRIVALE, 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 MERRIVALE). 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 MERRIVALE?

MERRIVALE is located on UNDERHAYES LANE in LAUNCESTON, in the PL15 postcode district. The below map shows the position of MERRIVALE on UNDERHAYES LANE.