House prices in CV34 (Warwick)

This article shows price per square metre data and various charts to help you understand the housing market in CV34 - stats were last calculated on 01 November 2024.

Defining 'CV34'

This analysis is limited to properties whose postcode starts with "CV34", this is also called the postcode district. There are no official postcode district names so I've just labelled it CV34, Warwick. It is shown in red on the map below.

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Price per square metre

Knowing the average house price in CV34 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

For example in September 2024, 8, Emerson Close, Warwick, CV34 6NQ sold for £780,000. Given the internal area of 195 square metres recorded on the EPC, the price per sqm is £780,000 ÷ 195 sqm = £4,000.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-). It is a huge pain to code the automatic conversion for square meters to square feet for all the graphs and charts on CV34 and elsewhere. All the conditionals turn my tidy code for into spaghetti. I will get around to it at some point, but for now you can just divide everything by 10 in your head, move a decimal place and you'll be close enough. If you want to be more precise 1 sqm = 10.76391 sqft.

Distribution of £ per sqm for houses vs flats in CV34

The chart above is called a histogram, it helps you see the distribution of house price per sqm in CV34 To make this chart we put all the sales data into a series of £ per sqm 'buckets' (e.g. £3,350 to £3,500, £3,500 to £3,650, £3,650 to £3,800 etc...) we then count the number of sales with within in each bucket and plot the results. The histogram is based on 1,002 sales that took place in CV34, in the last 24 months.

Generate a custom histogram like the one above but based on your own criteria.

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.

The spread of prices will give you a feel of the typical range to expect in CV34, Warwick. Notably, only 25% of properties that sold recently were valued at more than £4,460 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of CV34 homes.

Box plot of £ per sqm for CV34

Tip: click on the chart to see the values.

The chart above is called a boxplot (or a box-and-whisker plot). Box plots, like histograms, are used to graphically represent the distribution of data, showing the central tendency, spread of the distribution. In the context of £ per square metre property price distributions, box plots represent the variation in property prices within a geographic area e.g. Warwick. The chart above shows a boxplot for 'CV34' as well as the 'CV' postcode area.

  • Median: The horizontal line inside the box represents the median (£ per square meter). This is the midpoint of the data, meaning 50% of the prices are below this value, and 50% are above. The middle price per square metre in 'CV34' is £3,860.
  • Interquartile Range (IQR): The box spans from the 25th percentile (Q1) to the 75th percentile (Q3). This is the range where the middle 50% of the data lies, giving a good indication of the typical price spread. Of the 1,002 transactions in CV34, Warwick half were sold for between £3,270 and £4,460 per square metre.
  • Whiskers: In our case, the whiskers extend from the 9th percentile (at the lower end) to the 91st percentile (at the upper end), This provides a slightly broader view of the distribution by including the middle 82% of records. The whiskers capture most of the variation but exclude extreme outliers caused by data errors in recording sold house prices or internal area.
  • 'n=' is the number of property transactions the box plot is based on; 1,002 for CV34, Warwick.

    • Property price map for Warwick

    Have a look at the interactive price map I created for myself. Use it to explore 'CV34' house prices all the way down to individual property plots.

    Property price heatmap for Warwick
    House price map for Warwick

    Will CV34 house prices drop in 2025?

    I cannot tell what house prices will do in the future and don't believe anyone who says they can. However we can plot price trends, I have done this in the chart below for CV34 (Warwick) compared with the wider postcode area 'CV'. You can extrapolate from this based on your own views on future interest rates, inflation and other factors.

    House price index for CV34

    Tip: click on the legend items to show/hide different lines

    Download house price index as CSV (premium users only).

    The chart above shows changes in 'CV34' property prices over the last 20 years. The index is calculated from the average price paid per sqm for property in CV34 and is set to 100 in 2004. The chart compares trends for CV34, Warwick against those of the broader postcode area 'CV'. What is more interesting is to look at the difference between flats and houses, even those in the same area follow a very different trend, to get a robust enough sample size to see this we need to zoom out and look at house price trends for the entire Warwick local authority.

    The dashed lines show nominal house price changes, the solid lines show the same data adjusted for inflation. Economists call this the 'real' price change. You have to take inflation into account when comparing prices over time. It's calculated using the formula:

    Real Rate of Return = (1 + Nominal Rate) ÷ (1 + Inflation Rate) – 1
    In this formula, the nominal rate is the rate of change before any adjustments, and the inflation rate is taken from the Consumer Price Index. The real rate of return is a more accurate measure of change in value, because £1 today does not have the same buying power as £1 in the past. For example, if a savings account pays an interest rate of 3% per year and the inflation rate is 5% per year, the real rate of return is -2%. This means that the investment's value is shrinking by 2% each year.

    Historic returns for CV34
    CV area CV34 district
    Nominal Real Nominal Real
    20 yr per annum 3.2% 0.6% 3.0% 0.4%
    20 yr total 89.0% 12.0% 81.2% 7.3%
    10 yr per annum 4.0% 1.2% 3.5% 0.6%
    10 yr total 47.9% 12.3% 40.5% 6.7%
    5 yr per annum 3.4% -0.7% 2.9% -1.2%
    5 yr total 18.1% -3.3% 15.2% -5.7%
    1 yr per annum -0.5% -4.5% 1.6% -2.4%
    1 yr total -0.5% -4.5% 1.6% -2.4%

    This table complements the house price index chart above, presenting the data in a more detailed format. It breaks down the information into 20-year, 10-year, 5-year, and 1-year periods, further categorized by property type. For each period, we display both a per annum rate of change and a total rate of change.

    The total rate of change represents the overall change over the entire period. The formula for total return is:

    Total return = (Index at end of period ÷ Index at start of period) - 1

    The per annum rate of change is the annualized rate of change over the period. This is equivalent to the annual bank savings rate you would need to achieve the same total return over the given period. This annualized return is also known as the Compound Annual Growth Rate (CAGR). The formula for CAGR is:

    CAGR = (1 + Total return) ^ (1 ÷ Number of years) - 1

    Some specific examples:

    • Over the past 20 years, CV area have seen a 0.6% annual change when adjusted for inflation. This translates to a total change of 12.0% in real terms.
    • Over the past 5 years, CV area have seen a -0.7% annual change when adjusted for inflation. This translates to a total change of -3.3% in real terms.

    Most recent CV34 sales

    For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

    Tip: hover over dots to see details

    Street level data

    Street Avg size Avg £sqm Recent sales
    Chandley Wharf, , CV34 5A 68 sqm £2,782 31
    Coten End, , CV34 4X 49 sqm £2,356 26
    Greville Road, , CV34 5P 91 sqm £3,304 23
    Birch Meadow Close, , CV34 4T 68 sqm £3,034 22
    Turberville Place, , CV34 4J 54 sqm £2,854 19
    Hankinson Road, , CV34 5N 68 sqm £4,059 19
    Peregrine Way, , CV34 6W 79 sqm £4,023 18
    St Johns Court, , CV34 4N 54 sqm £2,982 16

    Search for your street here.

    Nearby geographies

    The table below shows how 'CV34' compares to the other postcode districts nearby 'CV34'.

    District Lower quartile Median Upper quartile Sales in last 2yr
    CV9 Atherstone £2,280 sqm £2,750 sqm £3,190 sqm 423
    CV8 Kenilworth £3,450 sqm £4,110 sqm £4,830 sqm 720
    CV7 Balsall Common £2,470 sqm £3,220 sqm £3,730 sqm 776
    CV6 Longford £2,260 sqm £2,610 sqm £3,040 sqm 1,836
    CV5 Allesley £2,500 sqm £2,920 sqm £3,370 sqm 1,212
    CV47 Southam £3,200 sqm £3,670 sqm £4,120 sqm 513
    CV4 Tile Hill £2,410 sqm £2,960 sqm £3,510 sqm 636
    CV37 Stratford-Upon-Avon £3,380 sqm £3,890 sqm £4,380 sqm 1,479
    CV36 Shipston-On-Stour £3,370 sqm £3,890 sqm £4,360 sqm 276
    CV35 Wellesbourne £3,540 sqm £4,020 sqm £4,450 sqm 715

    Raw data

    Our analysis of CV34 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.

    Address Paid sqm £/sqm
    8, Emerson Close, £780,000
    Sep-2024
    		 195 4,000
    31, Hughes Close, £315,000
    Sep-2024
    		 57 5,526
    6, Hermione Close, £625,000
    Sep-2024
    		 175 3,571

    See the entire list of all sales in CV34 here.

    About

    I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.