# House prices in CR8 2 (Purley)

## Defining 'CR8 2'

This analysis is limited to properties whose postcode starts with "CR8 2", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Purley.

You can click on the map labels to change to a neighbouring sector, or you can enter a different postcode sector (e.g. CM23 4) below.

FYI, a postcode sector is the full postcode without the last two letters.

## 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 17 Silvermere Court, 10, Foxley Hill Road, Purley, sold for £150,000 on Mar-2024. Given the internal area of 47 square metres, the price per sqm is £3,191.

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 ;-) They may want to convert square meters 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 202 sales in Purley (CR8 2) that took place in the last two years.

##### Distribution of £ per sqm for Purley
Distribution of £ per sqm house prices in Purley

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 Purley (CR8 2). Of the 202 transactions, half were sold for between £4,210 and £5,490 per square metre. The median, or 'middle', price per square metre in 'CR8 2' is £4,850. Notably, only 25% of properties that sold recently were valued at more than £5,490 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Purley

Do have a look at the interactive price map I created. 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.

House price heatmap for Purley

## Comparison with neighbouring postcode sectors

The table below shows how 'CR8 2' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CR8 4 Reedham £4,290 sqm £5,000 sqm £5,480 sqm
CR8 2 Purley £4,210 sqm £4,850 sqm £5,490 sqm
CR8 1 Riddlesdown £4,480 sqm £5,260 sqm £5,730 sqm
CR8 3 Reedham £4,400 sqm £5,080 sqm £6,140 sqm
CR8 5 Kenley £4,360 sqm £5,030 sqm £5,700 sqm

## 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 chart below for CR8 2 (Purley) compared with both the wider area CR8 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

##### Historic price per square metre in Purley,Purley
House price trends for Purley

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.

##### Most recent CR8 2 sales
Recent trends for Purley

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Purley to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. 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.

## Street level data

Street Avg size Avg £sqm Recent sales
Lansdowne Road, Purley, CR8 2P 76 sqm £4,727 44
Higher Drive, Purley, CR8 2H 152 sqm £4,636 26
Northwood Avenue, Purley, CR8 2E 99 sqm £5,385 26
Pampisford Road, Purley, CR8 2N 130 sqm £5,105 19
Pampisford Road, Purley, CR8 2U 77 sqm £2,931 17
Whytecliffe Road North, Purley, CR8 2A 93 sqm £5,464 16
Dale Road, Purley, CR8 2E 83 sqm £4,495 16
Purley Park Road, Purley, CR8 2B 96 sqm £4,443 14

## New build activity

Street Avg size Avg £sqm New build sales
Brighton Road, Purley, CR8 2B 72 sqm £4,816 13
Montpelier Road, Purley, CR8 2Q 78 sqm £5,313 27
Russell Hill, Purley, CR8 2J 130 sqm £4,489 9

Brighton Road, Purley, CR8 2B has seen 13 new build sales in the last 4 years (average price £447,361). These new build homes typically have an internal area of 72 sqm, with an average price of £4,816 sqm. This £sqm average is £-34 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.

Flat 17 Silvermere Court, 10, Foxley Hill Rd, Purley £150,000
Mar-2024
47 3,191
Flat 28 Azalea Court, 75, Whytecliffe Rd South, Purley £95,000
Jan-2024
45 2,111
22, Woodland Way, Purley £1,100,000
Jan-2024
225 4,888