THE FIRS, GOUGH CLOSE, MERRIOTT, TA16 5PU - £415,000

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

THE FIRS is a midsized detached house of 124m², built sometime between 1991 and 1995, which could now be worth an estimated £408,334. It was last sold for £415,000 in February 2023, which was around 11% below the average February 2023 detached price in the Somerset local authority area. The most recent EPC inspection was July 2022, where the current energy rating was C, and the potential energy rating was B.

THE FIRS Sold Prices

Land registry data shows two sales for THE FIRS since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Somerset local authority area for the corresponding sale date. Both of the two THE FIRS 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
2023 21 FEB	£415,000	£465,370	11% below HPI
2003 26 MAR	£202,000	£217,568	7% below HPI

THE FIRS Price Paid vs. HPI Average

The below graph shows the average detached house price in the Somerset local authority area over time, sourced from the HPI. The two THE FIRS sales from March 2003 and February 2023 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 March 2003 sale was for 7% below the HPI. So the extrapolation line tracks at 7% below the HPI over time, until the February 2023 sale, where it falls to 11% below the HPI. The line then continues to track at 11% below the HPI.

What might THE FIRS be worth now?

THE FIRS might now be worth an estimated £408,334.

This is based on house price deflation of 1.6%, between February 2023 and December 2024, for detached houses, in the Somerset local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 1.6% deflationary decrease is applied to the most recent sale price for THE FIRS of £415,000 on 21st February 2023. For the value to have decreased from £415,000 to £408,334 over the two months to December 2024, the following assumptions must hold true:

• The value of THE FIRS has moved in line with the HPI for detached houses in the Somerset local authority area.
• The February 2023 sale price of £415,000 represented a fair market value for the property.
• The size, condition, and specification of THE FIRS has not materially changed since February 2023.

How Large is THE FIRS?

THE FIRS is 124m² according to the EPC inspection conducted in July 2022. This puts it in the largest 50% of detached houses houses in Merriott, based on EPC data. The below chart shows the distribution of detached houses houses by size in Merriott, and where THE FIRS lies on this distribution: 60% of detached houses houses are smaller than THE FIRS, and 40% of houses are larger. Note that EPC data is not available for all properties in Merriott.

THE FIRS: Plot and Title Map

THE FIRS sits on a plot of roughly 0.090 of an acre, or 366m². The below map shows the location of THE FIRS, 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 THE FIRS). 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 THE FIRS?

THE FIRS is located on GOUGH CLOSE in MERRIOTT, in the TA16 postcode district. The below map shows the position of THE FIRS on GOUGH CLOSE.