Feb 07, 2023 by HM
House prices in Elham (CT4 6)
This article reveals price per square metre data and various charts to help you understand current housing market 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 areaE.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.
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)
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
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.
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|
Search for your street here.
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.
|Lone Pine, Canterbury Rd, Elham, Chartham|| £880,000
|Nailbourne, Cock Lane, Elham, Chartham|| £675,000
|Virginia Cottage, Derringstone Hill, Elham, Chartham|| £337,500