The average property value in Medway is £298,934 according to property sale data for the year ending June 2021 published by HM Land Registry. Between the years ending June 2020 and June 2021, property values in Medway grew by £25,255. Compare house prices by area
Average property prices in Medway grew by 9.2% between the years ending June 2020 and June 2021. Between the years ending June 2011 and June 2021, property prices on average grew by 5.7% per year.
If prices in Medway continue to rise by 5.7% a year, the average property price will be £373,539 in 2025.
There were 3,877 property sales in Medway in the year ending June 2021, an increase of 364 when compared to the previous year.
The average price for a house in Medway ranges from £248,790 for a terraced house to £469,360 for a detached house, with semi-detached in between costing on average £314,951.
The average price for a flat or maisonette in Medway is £173,401.
Price trends for small areas may be less statistically significant due to small sample sizes.
Of the property types in Medway, semi-detached house prices have risen the most between the years ending 2011 and 2021, and flat prices have grown the least.
Detached house prices have risen 58.6% from £295,857 to £469,360, semi-detached house prices have risen 77.6% from £177,346 to £314,951, terraced house prices have risen 74.2% from £142,826 to £248,790, and flat prices have risen 53.5% from £112,961 to £173,401.
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The most common type of property sold in Medway during the year ending June 2021 was terraced houses, which accounted for 43.3% of properties.
The least commonly available type of property sold in Medway were flats, which account for 9.2% of properties sold.
Of the properties sold in Medway during 2021, 1.4% were new build properties.
The average price paid for a new build property in Medway was £77,402 higher than the average price paid for an existing property.
Of the new build properties sold, the most common type was flats (43% of new build properties sold). For existing properties, the most common type is terraced houses (46% of existing properties sold).
The most common price band for property sales in Medway is £200k - £300k, which accounted for 32.0% of properties sold in 2021.
0.1% of properties in Medway had a price over £1 million. For comparison, in England, 2.1% of property sales were priced at over £1 million.
The cheapest properties in Medway were in the £50k - £100k price bracket, accounting for 0.6% of sales.
Average property price
YoY change in price
Average Property Price
YoY CHANGE in PRICE
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics