2, MELCHESTER CLOSE, GILLINGHAM, SP8 4FB - £175,000

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.

2 MELCHESTER CLOSE is a very small terraced house of 60m², built sometime between 1996 and 2002, which could now be worth an estimated £209,243. It was last sold for £175,000 in February 2020, which was around 21% below the average February 2020 terraced price in the Dorset local authority area. The most recent EPC inspection was January 2020, where the current energy rating was C, and the potential energy rating was B.

2 MELCHESTER CLOSE Sold Prices

Land registry data shows three sales for 2 MELCHESTER CLOSE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average terraced price in the Dorset local authority area for the corresponding sale date. All of the three 2 MELCHESTER 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
2020 11 FEB	£175,000	£221,631	21% below HPI
2003 28 AUG	£125,000	£127,842	2% below HPI
2000 22 DEC	£73,000	£79,558	8% below HPI

2 MELCHESTER CLOSE Price Paid vs. HPI Average

The below graph shows the average terraced house price in the Dorset local authority area over time, sourced from the HPI. The three 2 MELCHESTER CLOSE sales between December 2000 and February 2020 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 August 2003 sale was for 2% below the HPI. So the extrapolation line tracks at 2% below the HPI over time, until the February 2020 sale, where it falls to 21% below the HPI. The line then continues to track at 21% below the HPI.

What might 2 MELCHESTER CLOSE be worth now?

2 MELCHESTER CLOSE might now be worth an estimated £209,243.

This is based on house price inflation of 19.6%, between February 2020 and May 2026, for terraced houses, in the Dorset local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 19.6% inflationary increase is applied to the most recent sale price for 2 MELCHESTER CLOSE of £175,000 on 11th February 2020. For the value to have increased from £175,000 to £209,243 over the five years and nine months to May 2026, the following assumptions must hold true:

• The value of 2 MELCHESTER CLOSE has moved in line with the HPI for terraced houses in the Dorset local authority area.
• The February 2020 sale price of £175,000 represented a fair market value for the property.
• The size, condition, and specification of 2 MELCHESTER CLOSE has not materially changed since February 2020.

How Large is 2 MELCHESTER CLOSE?

2 MELCHESTER CLOSE is 60m² according to the EPC inspection conducted in January 2020. This puts it in the smallest 10% of terraced houses houses in Gillingham, based on EPC data. The below chart shows the distribution of terraced houses houses by size in Gillingham, and where 2 MELCHESTER CLOSE lies on this distribution: 2% of terraced houses houses are smaller than 2 MELCHESTER CLOSE, and 97% of houses are larger. Note that EPC data is not available for all properties in Gillingham.

2 MELCHESTER CLOSE: Plot and Title Map

2 MELCHESTER CLOSE sits on a plot of roughly 0.038 of an acre, or 154m². The below map shows the location of 2 MELCHESTER 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 2 MELCHESTER 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 2 MELCHESTER CLOSE?

2 MELCHESTER CLOSE is located in GILLINGHAM, in the SP8 postcode district. The below map shows the position of No. 2 on MELCHESTER CLOSE.