1, PENN CLOSE, ORSETT, GRAYS, RM16 3ED - £655,000

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.

1 PENN CLOSE is a midsized extended detached house of 162m², built sometime between 1983 and 1990, which could now be worth an estimated £767,448. It was last sold for £655,000 in October 2018, which was around 28% above the average October 2018 detached price in the Thurrock local authority area. The most recent EPC inspection was September 2017, where the current energy rating was D, and the potential energy rating was B.

1 PENN CLOSE Sold Prices

Land registry data shows two sales for 1 PENN CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Thurrock local authority area for the corresponding sale date. Both of the two 1 PENN CLOSE sales were for above 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
2018 16 OCT	£655,000	£511,962	28% above HPI
2003 6 JUN	£317,000	£259,081	22% above HPI

1 PENN CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Thurrock local authority area over time, sourced from the HPI. The two 1 PENN CLOSE sales from June 2003 and October 2018 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 June 2003 sale was for 22% above the HPI. So the extrapolation line tracks at 22% above the HPI over time, until the October 2018 sale, where it rises to 28% above the HPI. The line then continues to track at 28% above the HPI.

What might 1 PENN CLOSE be worth now?

1 PENN CLOSE might now be worth an estimated £767,448.

This is based on house price inflation of 17.2%, between October 2018 and June 2025, for detached houses, in the Thurrock local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 17.2% inflationary increase is applied to the most recent sale price for 1 PENN CLOSE of £655,000 on 16th October 2018. For the value to have increased from £655,000 to £767,448 over the seven years and four months to June 2025, the following assumptions must hold true:

• The value of 1 PENN CLOSE has moved in line with the HPI for detached houses in the Thurrock local authority area.
• The October 2018 sale price of £655,000 represented a fair market value for the property.
• The size, condition, and specification of 1 PENN CLOSE has not materially changed since October 2018.

How Large is 1 PENN CLOSE?

1 PENN CLOSE is 162m², which includes two extensions, according to the EPC inspection conducted in September 2017. This puts it in the largest 50% of detached houses houses in Orsett, based on EPC data. The below chart shows the distribution of detached houses houses by size in Orsett, and where 1 PENN CLOSE lies on this distribution: 52% of detached houses houses are smaller than 1 PENN CLOSE, and 46% of houses are larger. Note that EPC data is not available for all properties in Orsett.

1 PENN CLOSE: Plot and Title Map

1 PENN CLOSE sits on a plot of roughly 0.075 of an acre, or 302m². The below map shows the location of 1 PENN CLOSE, 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 1 PENN CLOSE). 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 1 PENN CLOSE?

1 PENN CLOSE is located in ORSETT, in the RM16 postcode district. The below map shows the position of No. 1 on PENN CLOSE.