3, FANE WAY, GILLINGHAM, ME8 9TD - £285,000

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.

3 FANE WAY is a small terraced house of 98m², built sometime between 1967 and 1975, which could now be worth an estimated £321,027. It was last sold for £285,000 in June 2021, which was around 19% above the average June 2021 terraced price in the Medway local authority area. The most recent EPC inspection was October 2020, where the current energy rating was C, and the potential energy rating was B.

3 FANE WAY Sold Prices

Land registry data shows three sales for 3 FANE WAY since 1^st January 1995. The below table shows the price paid for the three sales, along with the average terraced price in the Medway local authority area for the corresponding sale date. All of the three 3 FANE WAY 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 24 JUN	£285,000	£239,714	19% above HPI
2005 18 FEB	£164,000	£129,509	27% above HPI
1998 31 JUL	£63,500	£49,662	28% above HPI

3 FANE WAY Price Paid vs. HPI Average

The below graph shows the average terraced house price in the Medway local authority area over time, sourced from the HPI. The three 3 FANE WAY sales between July 1998 and June 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 February 2005 sale was for 27% above the HPI. So the extrapolation line tracks at 27% above the HPI over time, until the June 2021 sale, where it falls to 19% above the HPI. The line then continues to track at 19% above the HPI.

What might 3 FANE WAY be worth now?

3 FANE WAY might now be worth an estimated £321,027.

This is based on house price inflation of 12.6%, between June 2021 and June 2025, for terraced houses, in the Medway local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 12.6% inflationary increase is applied to the most recent sale price for 3 FANE WAY of £285,000 on 24th June 2021. For the value to have increased from £285,000 to £321,027 over the four years to June 2025, the following assumptions must hold true:

• The value of 3 FANE WAY has moved in line with the HPI for terraced houses in the Medway local authority area.
• The June 2021 sale price of £285,000 represented a fair market value for the property.
• The size, condition, and specification of 3 FANE WAY has not materially changed since June 2021.

How Large is 3 FANE WAY?

3 FANE WAY is 98m² according to the EPC inspection conducted in October 2020. This puts it in the smallest 30% 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 3 FANE WAY lies on this distribution: 29% of terraced houses houses are smaller than 3 FANE WAY, and 71% of houses are larger. Note that EPC data is not available for all properties in Gillingham.

3 FANE WAY: Plot and Title Map

3 FANE WAY sits on a plot of roughly 0.040 of an acre, or 161m². The below map shows the location of 3 FANE WAY, 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 3 FANE WAY). 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 3 FANE WAY?

3 FANE WAY is located in GILLINGHAM, in the ME8 postcode district. The below map shows the position of No. 3 on FANE WAY.