# House prices in CV3 2 (Binley)

## Defining 'CV3 2'

This analysis is limited to properties whose postcode starts with "CV3 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 Binley.

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 Binley 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. 2, Woodlands Court, Binley, sold for £150,000 on Apr-2024. Given the internal area of 54 square metres, the price per sqm is £2,777.

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. £2,800-£3,000, £3,000-£3,200, £3,200-£3,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 305 sales in Binley (CV3 2) that took place in the last two years.

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

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 Binley (CV3 2). Of the 305 transactions, half were sold for between £2,530 and £3,520 per square metre. The median, or 'middle', price per square metre in 'CV3 2' is £2,930. Notably, only 25% of properties that sold recently were valued at more than £3,520 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 Binley

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 Binley. 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 Binley

## Comparison with neighbouring postcode sectors

The table below shows how 'CV3 2' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CV3 6 Finham £2,980 sqm £3,520 sqm £4,000 sqm
CV3 1 Stoke £2,200 sqm £2,540 sqm £3,000 sqm
CV3 4 Whitley £1,980 sqm £2,330 sqm £2,980 sqm
CV3 5 Cheylesmore £2,500 sqm £3,070 sqm £3,480 sqm
CV3 2 Binley £2,530 sqm £2,930 sqm £3,520 sqm
CV3 3 Willenhall £1,850 sqm £2,180 sqm £2,680 sqm

## Will Binley 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 CV3 2 (Binley) compared with both the wider area CV3 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 Binley,Binley
House price trends for Binley

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 CV3 2 sales
Recent trends for Binley

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 Binley 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 Binley 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
Clifford Bridge Road, Binley, CV3 2D 92 sqm £2,652 25
Heather Road, Binley, CV3 2D 134 sqm £3,845 23
Rugby Road, Binley, CV3 2B 118 sqm £3,248 17
Binley Road, Binley, CV3 2D 101 sqm £2,552 16
Bridgeacre Gardens, Binley, CV3 2N 84 sqm £2,503 16
Brinklow Road, Binley, CV3 2H 78 sqm £3,065 15
Rugby Road, Binley, CV3 2A 130 sqm £3,238 15
Abbey Cottages, Binley, CV3 2E 79 sqm £2,196 11

## Raw data

Our analysis of Binley 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.

2, Woodlands Court, Binley £150,000
Apr-2024
54 2,777
68a, John Mcguire Crescent, Binley £250,000
Mar-2024
82 3,048
24, Elm Close, Binley £125,000
Mar-2024
43 2,906