2, GRESHAM CLOSE, RAINHAM, GILLINGHAM, ME8 7RR - £347,000

Based on the January 2025 Price Paid Data (released on 3rd March 2025), the December 2024 House Price Index (released on 19th February 2025), and the January 2025 Energy Performance of Buildings Data (released on 27th February 2025). Sources

2 GRESHAM CLOSE is a very small detached house of 78m², built sometime between 1996 and 2002, which could now be worth an estimated £404,345. It was last sold for £347,000 in December 2020, which was around 24% below the average December 2020 detached price in the Medway local authority area. The most recent EPC inspection was November 2012, where the current energy rating was D, and the potential energy rating was B.

2 GRESHAM CLOSE Sold Prices

Land registry data shows four sales for 2 GRESHAM CLOSE since 1^st January 1995. The below table shows the price paid for the four sales, along with the average detached price in the Medway local authority area for the corresponding sale date. All of the four 2 GRESHAM 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 16 DEC	£347,000	£457,066	24% below HPI
2014 13 JUN	£238,000	£300,799	21% below HPI
2007 30 JUL	£217,000	£278,897	22% below HPI
1997 19 SEP	£87,500	£99,255	12% below HPI

2 GRESHAM CLOSE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Medway local authority area over time, sourced from the HPI. The four 2 GRESHAM CLOSE sales between September 1997 and December 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 June 2014 sale was for 21% below the HPI. So the extrapolation line tracks at 21% below the HPI over time, until the December 2020 sale, where it falls to 24% below the HPI. The line then continues to track at 24% below the HPI.

What might 2 GRESHAM CLOSE be worth now?

2 GRESHAM CLOSE might now be worth an estimated £404,345.

This is based on house price inflation of 16.5%, between December 2020 and December 2024, for detached 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 16.5% inflationary increase is applied to the most recent sale price for 2 GRESHAM CLOSE of £347,000 on 16th December 2020. For the value to have increased from £347,000 to £404,345 over the four years to December 2024, the following assumptions must hold true:

• The value of 2 GRESHAM CLOSE has moved in line with the HPI for detached houses in the Medway local authority area.
• The December 2020 sale price of £347,000 represented a fair market value for the property.
• The size, condition, and specification of 2 GRESHAM CLOSE has not materially changed since December 2020.

How Large is 2 GRESHAM CLOSE?

2 GRESHAM CLOSE is 78m² according to the EPC inspection conducted in November 2012. This puts it in the smallest 20% of detached houses houses in Gillingham, based on EPC data. The below chart shows the distribution of detached houses houses by size in Gillingham, and where 2 GRESHAM CLOSE lies on this distribution: 12% of detached houses houses are smaller than 2 GRESHAM CLOSE, and 88% of houses are larger. Note that EPC data is not available for all properties in Gillingham.

2 GRESHAM CLOSE: Plot and Title Map

2 GRESHAM CLOSE sits on a plot of roughly 0.061 of an acre, or 247m². The below map shows the location of 2 GRESHAM 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 GRESHAM 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 GRESHAM CLOSE?

2 GRESHAM CLOSE is located in RAINHAM, in the ME8 postcode district. The below map shows the position of No. 2 on GRESHAM CLOSE.