Feb 07, 2023 by HM

House prices in Rugby (CV23 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Rugby (CV23 0).

---

Price per square metre

Knowing the average house price in Rugby 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. 18, Brockhurst Lane, Rugby, Long Lawford, sold for £595,000 on Oct-2023. Given the internal area of 135 square metres, the price per sqm is £4,407.

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. £3,350-£3,500, £3,500-£3,650, £3,650-£3,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 213 sales in Rugby (CV23 0) 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 Rugby (CV23 0). Of the 213 transactions, half were sold for between £2,700 and £3,520 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,520m². 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 'CV23 0' is £3,100. The table below shows how 'CV23 0' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CV23 8 Kilsby	£3,010m2	£3,240m2	£3,730m2
CV23 9 Long Lawford	£2,700m2	£3,150m2	£3,710m2
CV23 0 Rugby	£2,700m2	£3,100m2	£3,520m2
CV23 1 Houlton	£3,090m2	£3,480m2	£3,560m2

Will Rugby 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 CV23 0 (Rugby). 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 CV23 0 and the blue dots are the individual property sales that inform this trend.

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

Price map for Rugby

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 Rugby. 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 Rugby

Street level data

Street	Avg size	Avg £/m2	Recent sales
Avocet Close, Rugby, CV23 0W	71m2	£2,594	18
Longstork Road, Rugby, CV23 0G	104m2	£2,312	18
Crackthorne Drive, Rugby, CV23 0G	118m2	£2,471	16
Main Street, Rugby, CV23 0D	87m2	£2,205	14
Chicory Drive, Rugby, CV23 0U	60m2	£3,154	13
Nightingale Gardens, Rugby, CV23 0W	95m2	£2,384	13
Skelhorn Avenue, Rugby, CV23 0X	93m2	£3,048	13
Snellsdale Road, Rugby, CV23 0G	114m2	£2,933	12

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Edward Cave Walk, Rugby, CV23 0S	132m2	£3,008	10

Edward Cave Walk, Rugby, CV23 0S has seen 10 new build sales in the last 4 years (average price £376,653). These new build homes typically have an internal area of 132 m2, with an average price of £3,008 m2. This £sqm average is £-92 below the average for CV23 0. New builds typically command a £ per sqm premium. In the case of Edward Cave Walk 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 Rugby 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
18, Brockhurst Lane, Rugby, Long Lawford	£595,000 Oct-2023	135	4,407
1, Edward Cave Walk, Rugby, Long Lawford	£335,000 Sep-2023	93	3,602
7, Newall Close, Rugby, Long Lawford	£335,000 Sep-2023	103	3,252

See the entire list of all sales in Rugby (CV23 0) here.