THE STUDIO, LUMSDEN TERRACE, CHATHAM, ME4 6TN - £135,000

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

THE STUDIO is a very small extended detached house of 59m², built sometime before 1900. It was last sold for £135,000 in July 2013, which was around 51% below the average July 2013 detached price in the Medway local authority area. The most recent EPC inspection was August 2013, where the current energy rating was D, and the potential energy rating was B.

THE STUDIO Sold Prices

Land registry data shows two sales for THE STUDIO 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 THE STUDIO 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
2013 16 JUL	£135,000	£272,880	51% below HPI
2006 7 FEB	£137,500	£253,910	46% below HPI

THE STUDIO 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 THE STUDIO sales from February 2006 and July 2013 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 2006 sale was for 46% below the HPI. So the extrapolation line tracks at 46% below the HPI over time, until the July 2013 sale, where it falls to 51% below the HPI. The line then continues to track at 51% below the HPI.

What might THE STUDIO be worth now?

THE STUDIO might now be worth an estimated £263,490.

This is based on house price inflation of 95.2%, between July 2013 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 95.2% inflationary increase is applied to the most recent sale price for THE STUDIO of £135,000 on 16th July 2013. For the value to have increased from £135,000 to £263,490 over the ten years and seven months to December 2024, the following assumptions must hold true:

• The value of THE STUDIO has moved in line with the HPI for detached houses in the Medway local authority area.
• The July 2013 sale price of £135,000 represented a fair market value for the property.
• The size, condition, and specification of THE STUDIO has not materially changed since July 2013.

How Large is THE STUDIO?

THE STUDIO is 59m², which includes one extension, according to the EPC inspection conducted in August 2013. This puts it in the smallest 10% 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 THE STUDIO lies on this distribution: 3% of detached houses houses are smaller than THE STUDIO, and 97% of houses are larger. Note that EPC data is not available for all properties in Chatham.

THE STUDIO: Plot and Title Map

THE STUDIO sits on a plot of roughly 0.018 of an acre, or 71m². The below map shows the location of THE STUDIO, 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 STUDIO). 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 STUDIO?

THE STUDIO is located on LUMSDEN TERRACE in CHATHAM, in the ME4 postcode district. The below map shows the position of THE STUDIO on LUMSDEN TERRACE.