Feb 07, 2023 by HM

House prices in Hove (BN3 4)

This article reveals price per square metre data and various charts to help you understand current housing market in Hove (BN3 4).

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Price per square metre

Knowing the average house price in Hove 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. First Floor Flat 49 - 50, Boundary Road, Hove, sold for £170,000 on Sep-2023. Given the internal area of 52 square metres, the price per sqm is £3,269.

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. £5,050-£5,500, £5,500-£5,950, £5,950-£6,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 215 sales in Hove (BN3 4) 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 Hove (BN3 4). Of the 215 transactions, half were sold for between £4,980 and £6,850 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,850m². 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 'BN3 4' is £5,730. The table below shows how 'BN3 4' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BN3 3 Hove	£4,910m2	£5,610m2	£6,360m2
BN3 4 Hove	£4,980m2	£5,730m2	£6,850m2
BN3 6 Hove	£5,470m2	£6,060m2	£7,260m2
BN3 1 Hove	£4,830m2	£5,580m2	£6,310m2
BN3 5 Hove	£5,490m2	£6,120m2	£6,940m2
BN3 2 Hove	£5,040m2	£5,670m2	£6,550m2
BN3 7 Hove	£4,630m2	£5,450m2	£6,210m2
BN3 8 Hove	£4,750m2	£5,520m2	£6,480m2

Will Hove 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 BN3 4 (Hove). 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 BN3 4 and the blue dots are the individual property sales that inform this trend.

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

Price map for Hove

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 Hove. 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 Hove

Street level data

Street	Avg size	Avg £/m2	Recent sales
Kingsway, Hove, BN3 4F	75m2	£4,944	58
St Leonards Avenue, Hove, BN3 4Q	72m2	£5,256	34
New Church Road, Hove, BN3 4B	91m2	£4,873	29
New Church Road, Hove, BN3 4A	63m2	£5,026	26
Westbourne Villas, Hove, BN3 4G	103m2	£6,443	23
Kingsway, Hove, BN3 4N	56m2	£4,678	21
Sackville Gardens, Hove, BN3 4G	110m2	£6,464	19
Erroll Road, Hove, BN3 4Q	74m2	£5,728	19

Search for your street here.

Raw data

Our analysis of Hove 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
First Floor Flat 49 - 50, Boundary Rd, Hove	£170,000 Sep-2023	52	3,269
43, Erroll Rd, Hove	£680,000 Sep-2023	121	5,619
21, Middleton Avenue, Hove	£930,000 Aug-2023	114	8,157

See the entire list of all sales in Hove (BN3 4) here.