Feb 07, 2023 by HM

House prices in Elham (CT4 6)

Price per square metre

Knowing the average house price in Elham is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area
E.g. Lone Pine, Canterbury Road, Elham, Chartham, sold for £880,000 on Aug-2023. Given the internal area of 192 square metres, the price per sqm is £4,583.

England & Wales have been officially metric for many decades. However house price per square foot is sometimes prefered by those of sufficiently advanced age. They may want to convert metres on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £4,800-£5,000, £5,000-£5,200, £5,200-£5,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 89 sales in Elham (CT4 6) that took place in the last two years.

Distribution of £ per sqm for Elham (CT4 6)
Distribution of £ per sqm house prices in Elham

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

That said, the spread of prices will give you a feel of the typical range to expect in Elham (CT4 6). Of the 89 transactions, half were sold for between £3,850 and £5,290 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,290m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

For the average, we calculate the 'median' or middle price. The median price per square metre in 'CT4 6' is £4,410. The table below shows how 'CT4 6' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CT4 5 Bridge £3,690m2 £4,440m2 £5,450m2
CT4 6 Elham £3,850m2 £4,410m2 £5,290m2
CT4 7 Chartham £3,040m2 £3,670m2 £4,330m2
CT4 8 Chilham £3,740m2 £4,440m2 £5,190m2

Will Elham house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the scatter plot below for CT4 6 (Elham). From this one could infer a range of reasonable possible future price falls or rises. In the chart below, the red dashed line is the house price trend for CT4 6 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Elham (CT4 6) over time
House price trends for Elham

Hover on any blue dot to see details of specific sales

Disclaimer: The data provided throughout this website about Elham and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information. Furthermore, I cannot guarantee the accuracy of any data shown. This information is based on sold prices and internal area data provided by Land Registry and other third parties - I do not verify the accuracy of the Elham data or any other data I am given.

Price map for Elham

I've just finished coding the map I link to below. I find it useful and I am sure it will help you in exploring Elham. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values. I will explain more about the methodology and create a key next week.

House price heatmap for Elham

Street level data

Street Avg size Avg £/m2 Recent sales
The Street, Elham, CT4 6J 113m2 £4,346 17
Heathfield Way, Elham, CT4 6Q 110m2 £4,048 10
The Grove, Elham, CT4 6P 113m2 £3,461 8
High Street, Elham, CT4 6T 127m2 £3,549 6
Railway Hill, Elham, CT4 6P 119m2 £4,715 6
The Row, Elham, CT4 6U 116m2 £3,501 6
Church Walk, Elham, CT4 6U 49m2 £2,810 5
Fairfield, Elham, CT4 6U 89m2 £4,359 5

Raw data

Our analysis of Elham is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.