Feb 07, 2023 by HM

House prices in Purley (CR8 2)

This article reveals price per square metre data and various charts to help you understand current housing market in Purley (CR8 2).

---

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 21 Gresham Court, 11, Pampisford Road, Purley, sold for £149,000 on Oct-2023. Given the internal area of 60 square metres, the price per sqm is £2,483.

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 222 sales in Purley (CR8 2) 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 2). Of the 222 transactions, half were sold for between £4,210 and £5,490 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,490m². 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 2' is £4,810. The table below shows how 'CR8 2' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CR8 2 Purley	£4,210m2	£4,810m2	£5,490m2
CR8 3 Purley	£4,340m2	£5,030m2	£5,850m2
CR8 4 Purley	£4,450m2	£5,040m2	£5,580m2
CR8 5 Kenley	£4,490m2	£5,100m2	£5,770m2
CR8 1 Purley	£4,590m2	£5,320m2	£5,990m2

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 2 (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 2 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
Lansdowne Road, Purley, CR8 2P	75m2	£4,775	43
Higher Drive, Purley, CR8 2H	150m2	£4,894	26
Northwood Avenue, Purley, CR8 2E	99m2	£5,262	25
Pampisford Road, Purley, CR8 2N	131m2	£5,258	18
Dale Road, Purley, CR8 2E	83m2	£4,615	18
Pampisford Road, Purley, CR8 2U	77m2	£2,931	17
Whytecliffe Road North, Purley, CR8 2A	93m2	£5,464	16
Godstone Road, Purley, CR8 2D	82m2	£4,448	13

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Brighton Road, Purley, CR8 2B	72m2	£4,708	12
Montpelier Road, Purley, CR8 2Q	78m2	£5,340	25
Russell Hill, Purley, CR8 2J	130m2	£4,486	9

Brighton Road, Purley, CR8 2B has seen 12 new build sales in the last 4 years (average price £445,365). These new build homes typically have an internal area of 72 m2, with an average price of £4,708 m2. This £sqm average is £-102 below the average for CR8 2. New builds typically command a £ per sqm premium. In the case of Brighton Road 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 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 21 Gresham Court, 11, Pampisford Rd, Purley	£149,000 Oct-2023	60	2,483
7, Christchurch Rd, Purley	£490,000 Sep-2023	88	5,568
122, Whytecliffe Rd North, Purley	£480,000 Sep-2023	69	6,956

See the entire list of all sales in Purley (CR8 2) here.