15, PALACE CLOSE, SOUTH SHIELDS, NE33 5EQ - £155,000

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.

15 PALACE CLOSE is a very small semi-detached house of 71m², which could now be worth an estimated £168,959. It was last sold for £155,000 in August 2022, which was around 7% below the average August 2022 semi-detached price in the South Tyneside local authority area. The most recent EPC inspection was January 2016, where the current energy rating was B, and the potential energy rating was A.

15 PALACE CLOSE Sold Prices

Land registry data shows two sales for 15 PALACE CLOSE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average semi-detached price in the South Tyneside local authority area for the corresponding sale date. Both of the two 15 PALACE CLOSE 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
2022 12 AUG	£155,000	£167,050	7% below HPI
2016 29 JAN	£120,995	£125,476	4% below HPI

15 PALACE CLOSE Price Paid vs. HPI Average

The below graph shows the average semi-detached house price in the South Tyneside local authority area over time, sourced from the HPI. The two 15 PALACE CLOSE sales from January 2016 and August 2022 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 January 2016 sale was for 4% below the HPI. So the extrapolation line tracks at 4% below the HPI over time, until the August 2022 sale, where it falls to 7% below the HPI. The line then continues to track at 7% below the HPI.

What might 15 PALACE CLOSE be worth now?

15 PALACE CLOSE might now be worth an estimated £168,959.

This is based on house price inflation of 9%, between August 2022 and February 2025, for semi-detached houses, in the South Tyneside local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 9% inflationary increase is applied to the most recent sale price for 15 PALACE CLOSE of £155,000 on 12th August 2022. For the value to have increased from £155,000 to £168,959 over the three years and six months to February 2025, the following assumptions must hold true:

• The value of 15 PALACE CLOSE has moved in line with the HPI for semi-detached houses in the South Tyneside local authority area.
• The August 2022 sale price of £155,000 represented a fair market value for the property.
• The size, condition, and specification of 15 PALACE CLOSE has not materially changed since August 2022.

How Large is 15 PALACE CLOSE?

15 PALACE CLOSE is 71m² according to the EPC inspection conducted in January 2016. This puts it in the smallest 10% of semi-detached houses houses in South Shields, based on EPC data. The below chart shows the distribution of semi-detached houses houses by size in South Shields, and where 15 PALACE CLOSE lies on this distribution: 4% of semi-detached houses houses are smaller than 15 PALACE CLOSE, and 96% of houses are larger. Note that EPC data is not available for all properties in South Shields.

15 PALACE CLOSE: Plot and Title Map

15 PALACE CLOSE sits on a plot of roughly 0.034 of an acre, or 136m². The below map shows the location of 15 PALACE 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 15 PALACE 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 15 PALACE CLOSE?

15 PALACE CLOSE is located in SOUTH SHIELDS, in the NE33 postcode district. The below map shows the position of No. 15 on PALACE CLOSE.