2, MILL LANE, CHATHAM, ME5 0BA - £377,500

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 MILL LANE is a midsized extended detached house of 113m², built sometime between 1991 and 1995, which could now be worth an estimated £476,179. It was last sold for £377,500 in July 2017, which was around 12% below the average July 2017 detached price in the Medway local authority area. The most recent EPC inspection was May 2016, where the current energy rating was D, and the potential energy rating was B.

2 MILL LANE Sold Prices

Land registry data shows two sales for 2 MILL LANE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Medway local authority area for the corresponding sale date. Both of the two 2 MILL LANE 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
2017 21 JUL	£377,500	£427,042	12% below HPI
2002 31 MAY	£148,500	£183,354	19% below HPI

2 MILL LANE 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 two 2 MILL LANE sales from May 2002 and July 2017 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 May 2002 sale was for 19% below the HPI. So the extrapolation line tracks at 19% below the HPI over time, until the July 2017 sale, where it rises to 12% below the HPI. The line then continues to track at 12% below the HPI.

What might 2 MILL LANE be worth now?

2 MILL LANE might now be worth an estimated £476,179.

This is based on house price inflation of 26.1%, between July 2017 and February 2025, 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 26.1% inflationary increase is applied to the most recent sale price for 2 MILL LANE of £377,500 on 21st July 2017. For the value to have increased from £377,500 to £476,179 over the eight years and five months to February 2025, the following assumptions must hold true:

• The value of 2 MILL LANE has moved in line with the HPI for detached houses in the Medway local authority area.
• The July 2017 sale price of £377,500 represented a fair market value for the property.
• The size, condition, and specification of 2 MILL LANE has not materially changed since July 2017.

How Large is 2 MILL LANE?

2 MILL LANE is 113m², which includes one extension, according to the EPC inspection conducted in May 2016. This puts it in the largest 50% of detached houses houses in Chatham, based on EPC data. The below chart shows the distribution of detached houses houses by size in Chatham, and where 2 MILL LANE lies on this distribution: 53% of detached houses houses are smaller than 2 MILL LANE, and 46% of houses are larger. Note that EPC data is not available for all properties in Chatham.

2 MILL LANE: Plot and Title Map

2 MILL LANE sits on a plot of roughly 0.087 of an acre, or 352m². The below map shows the location of 2 MILL LANE, 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 MILL LANE). 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 MILL LANE?

2 MILL LANE is located in CHATHAM, in the ME5 postcode district. The below map shows the position of No. 2 on MILL LANE.