£94,180
This estimated value is based upon the latest sale price for the house of £70,000 on 17 Jun 2016. This value is then adjusted by the current Official House Price Index for MEDWAY 1
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| Price Paid | Date |
|---|---|
| £70,000 | 17 Jun 2016 |
| Flats/Maisonettes |
| Leasehold |
| Floor Area: 70 sq meters or 753 sq feet |
This model uses changes in the Official Land Registry House Price Index for MEDWAY to estimate the market value.
When this house was purchased in June 2016 the House Price Index for MEDWAY was 111.3.
The House Price Index as of 1 May 2024 is 149.7 which is a change of 34.544%.Applying this 34.544% change to the original purchase price of £70,000 results in an estimated price of approximately £94,180.
| 17 Jun 2016 | 1 May 2024 | % change | Purchase Price | Gain / Loss | Estimated Price |
| 111.3 | 149.7 | 34.544 % | £70,000 | £24,180 | £94,180 |
The Postcode Pricing Model uses changes in average sales price within the ME4 postcode to calculate an estimated price.
The average sales price when the house was purchased is compared with the current average sales price.
This change is then applied to the initial purchase price to derive the current estimated price.
Three different estimates are shown, with averages drawn from 1 month, 3 month and 6 month timeframes.
The longer timeframes give less volatile estimates, but are not so timely.
More information on this model and the calculations
| Change % | Change £ | Estimated Price | |
| 1 Month Average | 1.075 % | £752 | £70,752 |
| 3 Month Average | 14.804 % | £10,363 | £80,363 |
| 6 Month Average | 45.022 % | £31,515 | £101,515 |
| Date | Current Estimated Value | Price Paid | Address |
|---|---|---|---|
| 2 Nov 2023 | £194,949 | £190,000 | 20 INSTITUTE ROAD |
| 10 Feb 2023 | £140,941 | £140,000 | FLAT 2 8 INSTITUTE ROAD |
| 18 Jan 2023 | £89,740 | £89,500 | 6 ARCHES VIEW |
| 20 Sep 2022 | £219,353 | £219,500 | 26 INSTITUTE ROAD |
| 7 Sep 2022 | £144,903 | £145,000 | 413 - 415 HIGH STREET |
This house has a floor area of 70 sq meters or 753 sq feet when measured on 16 Sep 2016. Using an estimated price of £94,181 means this house is valued at £1,345 per sq meter (£124 per sq foot).
The average size of a house on MEADOW BANK ROAD is 76 sq meters (826 sq feet).