OCEAN REACH, PENWERRIS LANE, FALMOUTH, TR11 2PF - £515,000

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.

OCEAN REACH is a large extended detached house of 139m², built sometime between 1983 and 1990, which could now be worth an estimated £657,684. It was last sold for £515,000 in July 2019, which was around 50% above the average July 2019 detached price in the Cornwall local authority area. The most recent EPC inspection was December 2018, where the current energy rating was C, and the potential energy rating was B.

OCEAN REACH Sold Prices

Land registry data shows two sales for OCEAN REACH since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Cornwall local authority area for the corresponding sale date. Both of the two OCEAN REACH sales were for above 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
2019 23 JUL	£515,000	£342,374	50% above HPI
1999 16 NOV	£146,950	£103,500	42% above HPI

OCEAN REACH 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 two OCEAN REACH sales from November 1999 and July 2019 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 1999 sale was for 42% above the HPI. So the extrapolation line tracks at 42% above the HPI over time, until the July 2019 sale, where it rises to 50% above the HPI. The line then continues to track at 50% above the HPI.

What might OCEAN REACH be worth now?

OCEAN REACH might now be worth an estimated £657,684.

This is based on house price inflation of 27.7%, between July 2019 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 27.7% inflationary increase is applied to the most recent sale price for OCEAN REACH of £515,000 on 23rd July 2019. For the value to have increased from £515,000 to £657,684 over the six years and five months to February 2025, the following assumptions must hold true:

• The value of OCEAN REACH has moved in line with the HPI for detached houses in the Cornwall local authority area.
• The July 2019 sale price of £515,000 represented a fair market value for the property.
• The size, condition, and specification of OCEAN REACH has not materially changed since July 2019.

How Large is OCEAN REACH?

OCEAN REACH is 139m², which includes two extensions, according to the EPC inspection conducted in December 2018. This puts it in the largest 30% of detached houses houses in Falmouth, based on EPC data. The below chart shows the distribution of detached houses houses by size in Falmouth, and where OCEAN REACH lies on this distribution: 73% of detached houses houses are smaller than OCEAN REACH, and 26% of houses are larger. Note that EPC data is not available for all properties in Falmouth.

OCEAN REACH: Plot and Title Map

OCEAN REACH sits on a plot of roughly 0.081 of an acre, or 328m². The below map shows the location of OCEAN REACH, 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 OCEAN REACH). 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 OCEAN REACH?

OCEAN REACH is located on PENWERRIS LANE in FALMOUTH, in the TR11 postcode district. The below map shows the position of OCEAN REACH on PENWERRIS LANE.