PENANG, SHIPLEY ROAD, SOUTHWATER, HORSHAM, RH13 9BG - £385,000

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.

PENANG is a very small detached house of 77m², built sometime between 1991 and 1995, which could now be worth an estimated £497,023. It was last sold for £385,000 in August 2015, which was around 34% below the average August 2015 detached price in the Horsham local authority area. The most recent EPC inspection was June 2015, where the current energy rating was C, and the potential energy rating was B.

PENANG Sold Prices

Land registry data shows three sales for PENANG since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Horsham local authority area for the corresponding sale date. All of the three PENANG 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
2015 17 AUG	£385,000	£581,305	34% below HPI
2006 1 SEP	£250,000	£423,780	41% below HPI
1995 16 MAY	£95,000	£141,642	33% below HPI

PENANG Price Paid vs. HPI Average

The below graph shows the average detached house price in the Horsham local authority area over time, sourced from the HPI. The three PENANG sales between May 1995 and August 2015 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 September 2006 sale was for 41% below the HPI. So the extrapolation line tracks at 41% below the HPI over time, until the August 2015 sale, where it rises to 34% below the HPI. The line then continues to track at 34% below the HPI.

What might PENANG be worth now?

PENANG might now be worth an estimated £497,023.

This is based on house price inflation of 29.1%, between August 2015 and February 2025, for detached houses, in the Horsham local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 29.1% inflationary increase is applied to the most recent sale price for PENANG of £385,000 on 17th August 2015. For the value to have increased from £385,000 to £497,023 over the ten years and six months to February 2025, the following assumptions must hold true:

• The value of PENANG has moved in line with the HPI for detached houses in the Horsham local authority area.
• The August 2015 sale price of £385,000 represented a fair market value for the property.
• The size, condition, and specification of PENANG has not materially changed since August 2015.

How Large is PENANG?

PENANG is 77m² according to the EPC inspection conducted in June 2015. This puts it in the smallest 10% of detached houses houses in Southwater, based on EPC data. The below chart shows the distribution of detached houses houses by size in Southwater, and where PENANG lies on this distribution: 7% of detached houses houses are smaller than PENANG, and 92% of houses are larger. Note that EPC data is not available for all properties in Southwater.

PENANG: Plot and Title Map

PENANG sits on a plot of roughly 0.062 of an acre, or 250m². The below map shows the location of PENANG, 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 PENANG). 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 PENANG?

PENANG is located on SHIPLEY ROAD in SOUTHWATER, in the RH13 postcode district. The below map shows the position of PENANG on SHIPLEY ROAD.