House prices in CV3 5 (Cheylesmore)

This article reveals price per square metre data and various charts to help you understand current housing market in Cheylesmore, Binley (CV3 5).


Defining 'CV3 5'

This analysis is limited to properties whose postcode starts with "CV3 5", 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 Cheylesmore.

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 Cheylesmore 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. 19, Cornelius Street, Cheylesmore, Binley, sold for £192,000 on Feb-2024. Given the internal area of 68 square metres, the price per sqm is £2,823.

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 285 sales in Cheylesmore (CV3 5) that took place in the last two years.

Distribution of £ per sqm for Cheylesmore, Binley
Distribution of £ per sqm house prices in Cheylesmore

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 Cheylesmore (CV3 5). Of the 285 transactions, half were sold for between £2,510 and £3,490 per square metre. The median, or 'middle', price per square metre in 'CV3 5' is £3,040. Notably, only 25% of properties that sold recently were valued at more than £3,490 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 Cheylesmore, 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.

Property price heatmap for Cheylesmore
House price heatmap for Cheylesmore, Binley

Comparison with neighbouring postcode sectors

The table below shows how 'CV3 5' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CV3 5 Cheylesmore £2,510 sqm £3,040 sqm £3,490 sqm
CV3 6 Finham £3,000 sqm £3,570 sqm £4,030 sqm
CV3 1 Stoke £2,200 sqm £2,530 sqm £3,000 sqm
CV3 2 Binley £2,530 sqm £2,990 sqm £3,530 sqm
CV3 4 Whitley £2,020 sqm £2,350 sqm £3,010 sqm
CV3 3 Willenhall £1,850 sqm £2,200 sqm £2,690 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 5 (Cheylesmore) 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 Cheylesmore,Binley
House price trends for Cheylesmore

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 5 sales
Recent trends for Cheylesmore

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
Seneschal Road, Cheylesmore, CV3 5L 92 sqm £2,534 17
Watercall Avenue, Cheylesmore, CV3 5A 111 sqm £3,310 17
Queen Isabels Avenue, Cheylesmore, CV3 5G 83 sqm £2,466 15
Ivybridge Road, Cheylesmore, CV3 5P 100 sqm £3,508 14
Ulverscroft Road, Cheylesmore, CV3 5E 94 sqm £2,846 14
Woodstock Road, Cheylesmore, CV3 5H 79 sqm £2,972 14
Frankton Avenue, Cheylesmore, CV3 5B 96 sqm £3,728 13
Montalt Road, Cheylesmore, CV3 5L 84 sqm £2,711 13

Search for your street here.

Raw data

Our analysis of Cheylesmore 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
19, Cornelius St, Cheylesmore, Binley £192,000
Feb-2024
68 2,823
3, Hockett St, Cheylesmore, Binley £181,000
Feb-2024
77 2,350
112, Charminster Drive, Cheylesmore, Binley £71,000
Feb-2024
48 1,479

See the entire list of all sales in Cheylesmore (CV3 5) here.

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.