THE BANKS, WALMERS AVENUE, HIGHAM, ROCHESTER, ME3 7EH - £735,000

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.

THE BANKS is a very large extended detached house of 244m², built sometime between 1950 and 1966, which could now be worth an estimated £814,634. It was last sold for £735,000 in August 2021, which was around 30% above the average August 2021 detached price in the Gravesham local authority area. The most recent EPC inspection was September 2020, where the current energy rating was C, and the potential energy rating was C.

THE BANKS Sold Prices

Land registry data shows two sales for THE BANKS since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the Gravesham local authority area for the corresponding sale date. One of the two THE BANKS sales was for above the average price, whilst the other was 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
2021 27 AUG	£735,000	£567,354	30% above HPI
2002 1 NOV	£249,000	£257,214	3% below HPI

THE BANKS Price Paid vs. HPI Average

The below graph shows the average detached house price in the Gravesham local authority area over time, sourced from the HPI. The two THE BANKS sales from November 2002 and August 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 November 2002 sale was for 3% below the HPI. So the extrapolation line tracks at 3% below the HPI over time, until the August 2021 sale, where it rises to 30% above the HPI. The line then continues to track at 30% above the HPI.

What might THE BANKS be worth now?

THE BANKS might now be worth an estimated £814,634.

This is based on house price inflation of 10.8%, between August 2021 and February 2025, for detached houses, in the Gravesham local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 10.8% inflationary increase is applied to the most recent sale price for THE BANKS of £735,000 on 27th August 2021. For the value to have increased from £735,000 to £814,634 over the four years and six months to February 2025, the following assumptions must hold true:

• The value of THE BANKS has moved in line with the HPI for detached houses in the Gravesham local authority area.
• The August 2021 sale price of £735,000 represented a fair market value for the property.
• The size, condition, and specification of THE BANKS has not materially changed since August 2021.

How Large is THE BANKS?

THE BANKS is 244m², which includes two extensions, according to the EPC inspection conducted in September 2020. This puts it in the largest 20% of detached houses houses in Higham, based on EPC data. The below chart shows the distribution of detached houses houses by size in Higham, and where THE BANKS lies on this distribution: 86% of detached houses houses are smaller than THE BANKS, and 14% of houses are larger. Note that EPC data is not available for all properties in Higham.

THE BANKS: Plot and Title Map

THE BANKS sits on a plot of roughly 0.272 of an acre, or 1,102m². The below map shows the location of THE BANKS, 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 THE BANKS). 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 THE BANKS?

THE BANKS is located on WALMERS AVENUE in HIGHAM, in the ME3 postcode district. The below map shows the position of THE BANKS on WALMERS AVENUE.