THE GILLY, RIDGEGROVE HILL, LAUNCESTON, PL15 8BT - £225,000

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.

THE GILLY is a very small detached house of 89m², built sometime from 2007 onwards, which could now be worth an estimated £360,287. It was last sold for £225,000 in May 2013, which was around 18% below the average May 2013 detached price in the Cornwall local authority area. The most recent EPC inspection was August 2012, where the current energy rating was C, and the potential energy rating was B.

THE GILLY Sold Prices

Land registry data shows three sales for THE GILLY since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Cornwall local authority area for the corresponding sale date. All of the three THE GILLY 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
2013 31 MAY	£225,000	£273,052	18% below HPI
2006 17 NOV	£189,508	£286,027	34% below HPI
2004 19 MAR	£175,000	£234,856	25% below HPI

THE GILLY 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 three THE GILLY sales between March 2004 and May 2013 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 2006 sale was for 34% below the HPI. So the extrapolation line tracks at 34% below the HPI over time, until the May 2013 sale, where it rises to 18% below the HPI. The line then continues to track at 18% below the HPI.

What might THE GILLY be worth now?

THE GILLY might now be worth an estimated £360,287.

This is based on house price inflation of 60.1%, between May 2013 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 60.1% inflationary increase is applied to the most recent sale price for THE GILLY of £225,000 on 31st May 2013. For the value to have increased from £225,000 to £360,287 over the twelve years and three months to February 2025, the following assumptions must hold true:

• The value of THE GILLY has moved in line with the HPI for detached houses in the Cornwall local authority area.
• The May 2013 sale price of £225,000 represented a fair market value for the property.
• The size, condition, and specification of THE GILLY has not materially changed since May 2013.

How Large is THE GILLY?

THE GILLY is 89m² according to the EPC inspection conducted in August 2012. This puts it in the smallest 20% of detached houses houses in Launceston, based on EPC data. The below chart shows the distribution of detached houses houses by size in Launceston, and where THE GILLY lies on this distribution: 19% of detached houses houses are smaller than THE GILLY, and 81% of houses are larger. Note that EPC data is not available for all properties in Launceston.

THE GILLY: Plot and Title Map

THE GILLY sits on a plot of roughly 0.042 of an acre, or 169m². The below map shows the location of THE GILLY, 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 GILLY). 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 GILLY?

THE GILLY is located on RIDGEGROVE HILL in LAUNCESTON, in the PL15 postcode district. The below map shows the position of THE GILLY on RIDGEGROVE HILL.