Feb 07, 2023 by HM

House prices in Verwood (BH31 7)

This article reveals price per square metre data and various charts to help you understand current housing market in Verwood (BH31 7).

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Price per square metre

Knowing the average house price in Verwood 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. 7, Holm Oak Close, Verwood, sold for £400,000 on Sep-2023. Given the internal area of 97 square metres, the price per sqm is £4,123.

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. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 98 sales in Verwood (BH31 7) that took place in the last two years.

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 Verwood (BH31 7). Of the 98 transactions, half were sold for between £3,680 and £4,760 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,760m². 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 'BH31 7' is £4,340. The table below shows how 'BH31 7' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BH31 7 Verwood	£3,680m2	£4,340m2	£4,760m2
BH31 6 Verwood	£3,940m2	£4,530m2	£5,000m2

Will Verwood 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 BH31 7 (Verwood). 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 BH31 7 and the blue dots are the individual property sales that inform this trend.

Disclaimer: The data provided throughout this website about Verwood 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 Verwood data or any other data I am given.

Price map for Verwood

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 Verwood. 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 Verwood

Street level data

Street	Avg size	Avg £/m2	Recent sales
Albion Way, Verwood, BH31 7L	96m2	£4,348	28
Ringwood Road, Verwood, BH31 7A	112m2	£3,320	28
The Chase, Verwood, BH31 7D	101m2	£4,287	18
Peel Close, Verwood, BH31 7Q	62m2	£3,042	14
Woodland Close, Verwood, BH31 7P	115m2	£3,910	10
Noon Hill Drive, Verwood, BH31 7X	105m2	£4,090	9
Peel Close, Verwood, BH31 7A	52m2	£3,595	8
Starlight Farm Close, Verwood, BH31 7B	130m2	£3,504	8

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Westworth Way, Verwood, BH31 7B	99m2	£4,323	26

Westworth Way, Verwood, BH31 7B has seen 26 new build sales in the last 4 years (average price £427,620). These new build homes typically have an internal area of 99 m2, with an average price of £4,323 m2. This £sqm average is £-17 below the average for BH31 7. New builds typically command a £ per sqm premium. In the case of Westworth Way the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

Raw data

Our analysis of Verwood 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	m2	£/m2
7, Holm Oak Close, Verwood	£400,000 Sep-2023	97	4,123
1, Strathmore Drive, Verwood	£485,000 Aug-2023	72	6,736
Flat 28 Heron House, 2, Peel Close, Verwood	£248,500 Jul-2023	113	2,199

See the entire list of all sales in Verwood (BH31 7) here.