House prices in CR8 3 (Reedham)
This article reveals price per square metre data and various charts to help you understand current housing market in 'CR8 3' (Reedham, Purley) - statistics were last calculated on 30 August 2024.
Defining 'CR8 3'
This analysis is limited to properties whose postcode starts with "CR8 3", 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 Reedham.
You can click on the map to change 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 Reedham 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 areaE.g. 147, Woodcote Valley Road, Reedham, Purley, sold for £1,150,000 on Jul-2024. Given the internal area of 192 square metres, the price per sqm is £5,989.
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. £5,150-£5,500, £5,500-£5,850, £5,850-£6,200 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 81 sales in Reedham (CR8 3) that took place in the last two years.
Distribution of £ per sqm for Reedham, Purley
Generate a custom chart like the one above but based on your own criteria.
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 Reedham (CR8 3). Of the 81 transactions, half were sold for between £4,380 and £5,720 per square metre. The median, or 'middle', price per square metre in 'CR8 3' is £5,080. Notably, only 25% of properties that sold recently were valued at more than £5,720 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 Reedham, 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 Reedham, Purley
Comparison with neighbouring postcode sectors
The table below shows how 'CR8 3' compares to neighbouring postcode sectors.
Postcode sector | Lower quartile | Middle quartile | Upper quartile |
---|---|---|---|
CR8 5 Kenley | £4,340 sqm | £5,000 sqm | £5,640 sqm |
CR8 2 Purley | £4,380 sqm | £4,860 sqm | £5,490 sqm |
CR8 4 Reedham | £4,430 sqm | £5,000 sqm | £5,520 sqm |
CR8 1 Riddlesdown | £4,370 sqm | £4,980 sqm | £5,610 sqm |
CR8 3 Reedham | £4,380 sqm | £5,080 sqm | £5,720 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 3 (Reedham) 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 Reedham,Purley
Download time series data as CSV (paying users only).
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 3 sales
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 |
---|---|---|---|
Foxley Lane, Reedham, CR8 3E | 98 sqm | £3,941 | 25 |
Woodcote Valley Road, Reedham, CR8 3B | 158 sqm | £5,371 | 21 |
Monahan Avenue, Reedham, CR8 3B | 185 sqm | £4,976 | 14 |
Smitham Bottom Lane, Reedham, CR8 3D | 195 sqm | £4,577 | 13 |
Green Lane, Reedham, CR8 3P | 179 sqm | £5,106 | 9 |
Woodcote Valley Road, Reedham, CR8 3A | 126 sqm | £4,720 | 7 |
Foxley Lane, Reedham, CR8 3H | 214 sqm | £4,465 | 7 |
Little Woodcote Lane, Reedham, CR8 3P | 168 sqm | £5,417 | 6 |
Search for your street here.
New build activity
Street | Avg size | Avg £sqm | New build sales |
---|---|---|---|
Plough Lane, Reedham, CR8 3Q | 132 sqm | £4,629 | 15 |
Foxley Lane, Reedham, CR8 3N | 131 sqm | £5,471 | 16 |
Plough Lane, Reedham, CR8 3Q has seen 15 new build sales in the last 4 years (average price £558,790). These new build homes typically have an internal area of 132 sqm, with an average price of £4,629 sqm. This £sqm average is £-451 below the average for CR8 3. New builds typically command a £ per sqm premium. In the case of Plough Lane 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 Reedham 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 | sqm | £/sqm |
---|---|---|---|
147, Woodcote Valley Rd, Reedham, Purley | £1,150,000
Jul-2024
|
192 | 5,989 |
Flat 10 6, Foxley Lane, Reedham, Purley | £350,000
Jul-2024
|
94 | 3,723 |
25, Purley Knoll, Reedham, Purley | £1,065,000
Jun-2024
|
283 | 3,763 |
About
I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.