Feb 07, 2023 by HM

House prices in Purley (CR8 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Purley (CR8 1).

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Price per square metre

Knowing the average house price in Purley 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. Flat 2 Whitebeam Court, 2a, Warren Road, Purley, sold for £235,000 on Aug-2023. Given the internal area of 50 square metres, the price per sqm is £4,700.

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. £4,700-£5,000, £5,000-£5,300, £5,300-£5,600 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 108 sales in Purley (CR8 1) 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 Purley (CR8 1). Of the 108 transactions, half were sold for between £4,600 and £5,960 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,960m². 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 'CR8 1' is £5,390. The table below shows how 'CR8 1' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CR8 3 Purley	£4,380m2	£5,030m2	£5,730m2
CR8 4 Purley	£4,450m2	£5,040m2	£5,590m2
CR8 5 Kenley	£4,450m2	£5,100m2	£5,740m2
CR8 1 Purley	£4,600m2	£5,390m2	£5,960m2
CR8 2 Purley	£4,280m2	£4,960m2	£5,540m2

Will Purley 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 CR8 1 (Purley). 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 CR8 1 and the blue dots are the individual property sales that inform this trend.

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

Price map for Purley

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 Purley. 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 Purley

Street level data

Street	Avg size	Avg £/m2	Recent sales
Riddlesdown Road, Purley, CR8 1D	142m2	£5,193	37
Grasmere Road, Purley, CR8 1D	110m2	£5,323	21
Lower Barn Road, Purley, CR8 1H	88m2	£4,730	20
Downs Court Road, Purley, CR8 1B	122m2	£5,218	20
Brancaster Lane, Purley, CR8 1H	128m2	£5,227	14
Oakwood Avenue, Purley, CR8 1A	178m2	£5,110	13
Warren Road, Purley, CR8 1A	119m2	£5,035	11
Purley Bury Avenue, Purley, CR8 1J	146m2	£5,352	10

Search for your street here.

Raw data

Our analysis of Purley 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
Flat 2 Whitebeam Court, 2a, Warren Rd, Purley	£235,000 Aug-2023	50	4,700
7, Mitchley Avenue, Purley	£907,000 Aug-2023	184	4,929
162, Riddlesdown Rd, Purley	£600,000 Jul-2023	86	6,976

See the entire list of all sales in Purley (CR8 1) here.