PALANGA, THE BOWJEY HILL, NEWLYN, PENZANCE, TR18 5LN - £436,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

PALANGA is a very small detached house of 75m², built sometime between 1950 and 1966, which could now be worth an estimated £434,870. It was last sold for £436,000 in November 2024, which was around 2% below the average November 2024 detached price in the Cornwall local authority area. The most recent EPC inspection was July 2016, where the current energy rating was C, and the potential energy rating was B.

PALANGA Sold Prices

Land registry data shows two sales for PALANGA 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 PALANGA 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 22 NOV	£436,000	£445,157	2% below HPI
2016 4 NOV	£242,000	£312,492	23% below HPI

PALANGA 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 PALANGA sales from November 2016 and November 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 November 2016 sale was for 23% below the HPI. So the extrapolation line tracks at 23% below the HPI over time, until the November 2024 sale, where it rises to 2% below the HPI. The line then continues to track at 2% below the HPI.

What might PALANGA be worth now?

PALANGA might now be worth an estimated £434,870.

This is based on house price deflation of 0.3%, between November 2024 and December 2024, 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 0.3% deflationary decrease is applied to the most recent sale price for PALANGA of £436,000 on 22nd November 2024. For the value to have decreased from £436,000 to £434,870 over the eleven months to December 2024, the following assumptions must hold true:

• The value of PALANGA has moved in line with the HPI for detached houses in the Cornwall local authority area.
• The November 2024 sale price of £436,000 represented a fair market value for the property.
• The size, condition, and specification of PALANGA has not materially changed since November 2024.

How Large is PALANGA?

PALANGA is 75m² according to the EPC inspection conducted in July 2016. This puts it in the smallest 20% of detached houses houses in Newlyn, based on EPC data. The below chart shows the distribution of detached houses houses by size in Newlyn, and where PALANGA lies on this distribution: 14% of detached houses houses are smaller than PALANGA, and 85% of houses are larger. Note that EPC data is not available for all properties in Newlyn.

PALANGA: Plot and Title Map

PALANGA sits on a plot of roughly 0.117 of an acre, or 474m². The below map shows the location of PALANGA, 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 PALANGA). 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 PALANGA?

PALANGA is located on THE BOWJEY HILL in NEWLYN, in the TR18 postcode district. The below map shows the position of PALANGA on THE BOWJEY HILL.