SOMERSET, BINSTEAD HILL, RYDE, PO33 3RW - £295,000

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.

SOMERSET is a midsized extended semi-detached house of 98m², built sometime between 1900 and 1929, which could now be worth an estimated £324,525. It was last sold for £295,000 in March 2021, which was around 20% above the average March 2021 semi-detached price in the Isle of Wight local authority area. The most recent EPC inspection was December 2016, where the current energy rating was D, and the potential energy rating was C.

SOMERSET Sold Prices

Land registry data shows five sales for SOMERSET since 1^st January 1995. The below table shows the price paid for the five sales, along with the average semi-detached price in the Isle of Wight local authority area for the corresponding sale date. Most of the five SOMERSET 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
2021 1 MAR	£295,000	£246,211	20% above HPI
2017 6 MAR	£235,000	£199,106	18% above HPI
2006 3 NOV	£215,000	£175,327	23% above HPI
2004 3 NOV	£186,000	£161,556	15% above HPI
1997 27 MAR	£39,000	£46,483	16% below HPI

SOMERSET Price Paid vs. HPI Average

The below graph shows the average semi-detached house price in the Isle of Wight local authority area over time, sourced from the HPI. The five SOMERSET sales between March 1997 and March 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 March 2017 sale was for 18% above the HPI. So the extrapolation line tracks at 18% above the HPI over time, until the March 2021 sale, where it rises to 20% above the HPI. The line then continues to track at 20% above the HPI.

What might SOMERSET be worth now?

SOMERSET might now be worth an estimated £324,525.

This is based on house price inflation of 10%, between March 2021 and June 2025, for semi-detached houses, in the Isle of Wight local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 10% inflationary increase is applied to the most recent sale price for SOMERSET of £295,000 on 1st March 2021. For the value to have increased from £295,000 to £324,525 over the three years and nine months to June 2025, the following assumptions must hold true:

• The value of SOMERSET has moved in line with the HPI for semi-detached houses in the Isle of Wight local authority area.
• The March 2021 sale price of £295,000 represented a fair market value for the property.
• The size, condition, and specification of SOMERSET has not materially changed since March 2021.

How Large is SOMERSET?

SOMERSET is 98m², which includes four extensions, according to the EPC inspection conducted in December 2016. This puts it in the smallest 50% of semi-detached houses houses in Ryde, based on EPC data. The below chart shows the distribution of semi-detached houses houses by size in Ryde, and where SOMERSET lies on this distribution: 41% of semi-detached houses houses are smaller than SOMERSET, and 58% of houses are larger. Note that EPC data is not available for all properties in Ryde.

SOMERSET: Plot and Title Map

SOMERSET sits on a plot of roughly 0.110 of an acre, or 447m². The below map shows the location of SOMERSET, 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 SOMERSET). 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 SOMERSET?

SOMERSET is located on BINSTEAD HILL in RYDE, in the PO33 postcode district. The below map shows the position of SOMERSET on BINSTEAD HILL.