THE GABLES, MERRITTS HILL, ILLOGAN, REDRUTH, TR16 4DF - £350,000

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 GABLES is a large extended detached house of 120m², built sometime between 1983 and 1990, which could now be worth an estimated £376,563. It was last sold for £350,000 in November 2021, which was around 15% below the average November 2021 detached price in the Cornwall local authority area. The most recent EPC inspection was October 2015, where the current energy rating was D, and the potential energy rating was C.

THE GABLES Sold Prices

Land registry data shows six sales for THE GABLES since 1^st January 1995. The below table shows the price paid for the six sales, along with the average detached price in the Cornwall local authority area for the corresponding sale date. Most of the six THE GABLES 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
2021 10 NOV	£350,000	£412,683	15% below HPI
2020 27 FEB	£285,000	£344,493	17% below HPI
2007 30 AUG	£270,000	£298,261	9% below HPI
2003 14 NOV	£224,500	£227,264	1% below HPI
2002 14 JUN	£159,950	£161,276	1% below HPI
1996 21 MAY	£76,000	£71,486	6% above HPI

THE GABLES 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 six THE GABLES sales between May 1996 and November 2021 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 February 2020 sale was for 17% below the HPI. So the extrapolation line tracks at 17% below the HPI over time, until the November 2021 sale, where it rises to 15% below the HPI. The line then continues to track at 15% below the HPI.

What might THE GABLES be worth now?

THE GABLES might now be worth an estimated £376,563.

This is based on house price inflation of 7.6%, between November 2021 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 7.6% inflationary increase is applied to the most recent sale price for THE GABLES of £350,000 on 10th November 2021. For the value to have increased from £350,000 to £376,563 over the two years and eleven months to December 2024, the following assumptions must hold true:

• The value of THE GABLES has moved in line with the HPI for detached houses in the Cornwall local authority area.
• The November 2021 sale price of £350,000 represented a fair market value for the property.
• The size, condition, and specification of THE GABLES has not materially changed since November 2021.

How Large is THE GABLES?

THE GABLES is 120m², which includes one extension, according to the EPC inspection conducted in October 2015. This puts it in the largest 30% of detached houses houses in Illogan, based on EPC data. The below chart shows the distribution of detached houses houses by size in Illogan, and where THE GABLES lies on this distribution: 74% of detached houses houses are smaller than THE GABLES, and 26% of houses are larger. Note that EPC data is not available for all properties in Illogan.

THE GABLES: Plot and Title Map

THE GABLES sits on a plot of roughly 0.154 of an acre, or 625m². The below map shows the location of THE GABLES, 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 GABLES). 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 GABLES?

THE GABLES is located on MERRITTS HILL in ILLOGAN, in the TR16 postcode district. The below map shows the position of THE GABLES on MERRITTS HILL.