Feb 07, 2023 by HM

House prices in Warwick (CV34 7)

This article reveals price per square metre data and various charts to help you understand current housing market in Warwick (CV34 7).

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Price per square metre

Knowing the average house price in Warwick 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. 8, Woodward Drive, Warwick, sold for £277,000 on Jul-2023. Given the internal area of 60 square metres, the price per sqm is £4,616.

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 34 sales in Warwick (CV34 7) 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 Warwick (CV34 7). Of the 34 transactions, half were sold for between £3,480 and £4,480 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,480m². 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 'CV34 7' is £4,120. The table below shows how 'CV34 7' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CV34 5 Warwick	£3,140m2	£3,700m2	£4,290m2
CV34 4 Warwick	£2,920m2	£3,390m2	£3,960m2
CV34 8 Warwick	£4,030m2	£4,110m2	£4,410m2
CV34 6 Heathcote	£3,350m2	£3,840m2	£4,330m2
CV34 7 Warwick	£3,480m2	£4,120m2	£4,480m2

Will Warwick 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 CV34 7 (Warwick). 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 CV34 7 and the blue dots are the individual property sales that inform this trend.

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

Price map for Warwick

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 Warwick. 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 Warwick

Street level data

Street	Avg size	Avg £/m2	Recent sales
Olive Grove, Warwick, CV34 7B	129m2	£3,532	11
Wesson Road, Warwick, CV34 7B	88m2	£4,041	10
Peabody Way, Warwick, CV34 7B	121m2	£3,423	9
Jakeman Way, Warwick, CV34 7A	138m2	£4,009	7
Aston Gardens, Warwick, CV34 7B	69m2	£4,079	7
Palmer Crescent, Warwick, CV34 7B	125m2	£3,777	5

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Vickers Way, Warwick, CV34 7A	120m2	£3,687	11
Oakley Drive, Warwick, CV34 7A	110m2	£3,521	12
Clement Way, Warwick, CV34 7B	99m2	£3,912	12
Marchant Way, Warwick, CV34 7B	82m2	£4,197	11

Vickers Way, Warwick, CV34 7A has seen 11 new build sales in the last 4 years (average price £468,261). These new build homes typically have an internal area of 120 m2, with an average price of £3,687 m2. This £sqm average is £-433 below the average for CV34 7. New builds typically command a £ per sqm premium. In the case of Vickers Way 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 Warwick 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
8, Woodward Drive, Warwick	£277,000 Jul-2023	60	4,616
12, Tomlinson Rd, Warwick	£205,000 Jul-2023	78	2,628
27, Wesson Rd, Warwick	£310,000 Jul-2023	57	5,438

See the entire list of all sales in Warwick (CV34 7) here.