Feb 07, 2023 by HM

House prices in Leamington Spa (CV31 3)

This article reveals price per square metre data and various charts to help you understand current housing market in Leamington Spa (CV31 3).

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Price per square metre

Knowing the average house price in Leamington Spa 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. 15, Myton Crofts, Leamington Spa, sold for £747,700 on Oct-2023. Given the internal area of 97 square metres, the price per sqm is £7,708.

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. £3,800-£4,000, £4,000-£4,200, £4,200-£4,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 166 sales in Leamington Spa (CV31 3) 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 Leamington Spa (CV31 3). Of the 166 transactions, half were sold for between £2,960 and £3,870 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,870m². 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 'CV31 3' is £3,360. The table below shows how 'CV31 3' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CV31 1 Leamington Spa	£3,230m2	£3,790m2	£4,390m2
CV31 2 Whitnash	£3,170m2	£3,680m2	£4,210m2
CV31 3 Leamington Spa	£2,960m2	£3,360m2	£3,870m2

Will Leamington Spa 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 CV31 3 (Leamington Spa). 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 CV31 3 and the blue dots are the individual property sales that inform this trend.

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

Price map for Leamington Spa

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 Leamington Spa. 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 Leamington Spa

Street level data

Street	Avg size	Avg £/m2	Recent sales
Tachbrook Road, Leamington Spa, CV31 3D	103m2	£3,569	26
Avenue Road, Leamington Spa, CV31 3P	112m2	£3,572	23
Queensway, Leamington Spa, CV31 3L	67m2	£2,703	20
Avenue Road, Leamington Spa, CV31 3N	67m2	£3,516	20
Frances Havergal Close, Leamington Spa, CV31 3B	54m2	£3,470	17
Westlea Road, Leamington Spa, CV31 3J	74m2	£3,513	14
Ranelagh Terrace, Leamington Spa, CV31 3B	70m2	£3,557	12
Manor Court, Leamington Spa, CV31 3N	72m2	£3,479	12

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Isambard Close, Leamington Spa, CV31 3S	63m2	£4,184	12

Isambard Close, Leamington Spa, CV31 3S has seen 12 new build sales in the last 4 years (average price £273,177). These new build homes typically have an internal area of 63 m2, with an average price of £4,184 m2. This £sqm average is £824 above the average for CV31 3. New builds typically command a £ per sqm premium so this is normal.

Raw data

Our analysis of Leamington Spa 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
15, Myton Crofts, Leamington Spa	£747,700 Oct-2023	97	7,708
9 Prince Regent Court, Charlotte St, Leamington Spa	£162,000 Sep-2023	50	3,240
Flat 3 43, Avenue Rd, Leamington Spa	£270,000 Sep-2023	78	3,461

See the entire list of all sales in Leamington Spa (CV31 3) here.