Cadman Homes Rugby Property Bulletin

Overview – The data collected was from the 22NDJuly 2014 and was taken from a range of sources including the land registry, Zoopla and rightmove.co.uk.

  • Average asking price “for sale” in the Rugby area is £280,337 with a stock of 354 properties on the market on Zoopla and 417 in total.

 

  • Average asking price “to let” in the Rugby area is £702 Per Calendar Month with a stock of 65 properties on the market on Zoopla and 143 in total.
  • This shows that some agents have cut back their coverage of which websites they are advertising your property on, effectively reducing the number of buyers that will see you property.
  • Average property price is £211,744
  • Value change over the last year (12 months) is £17,553 (9.04%)
  • Interestingly the average current asking price is £280,337

Breakdown of Property Values

  • Detached houses – Average value £317,694
  • Semi-detached houses – Average value £181,028
  • Terraced Houses – Average value £148,607
  • Flats – Average value £130,739

Square Footage Average

  • Detached Houses £216psf
  • Semi-detached £191psf
  • Terraced £183psf
  • Flats £211psf

Current Average Asking Prices

  • 1 Bed – £82,800
  • 2 Beds – £134,082
  • 3 Beds – £202,064
  • 4 Beds – £324,698
  • 5 Beds – £547,847

 

Adam says “The Rugby property market has held up well in recent years, and the last 12 months has seen a very positive level of growth”.

“A chronic lack of supply of houses to buy and rent is causing demand led inflation of asking prices and selling prices are mirroring this trend as confidence improves and buyers fear further price rises over the next year. We certainly need more houses to sell and let across the Rugby area to keep up with the demand of our mailing list of applicants”. He continued, mentioning properties in Cawston, Hillmorton and Southfields that have sold this week on the first viewing, for above the asking price.

Government aid and mortgage schemes such as Help to Buy have also bolstered demand, and confidence, Cadman Homes inform us.

“Rugby is a growing and developing town, with a lot of inward investment from companies both large and small coming into the area to benefit from a good labour pool, and excellent infrastructure including our road and rail network.” Valerie Cadman-Jones, (founder of the company and Adam’s wife) tells us.

“ With London an hour away by rail, and Birmingham less than an hour away by road, we truly are “half way to everywhere” from a transport point of view. People are also moving from areas like Coventry, into Rugby, due to the quality of schooling in the Rugby area. Our school catchment areas are in amazing demand with one client of ours relocating from Stratford in order to get a child into Rugby High School” she continued.

The BID, Rugby First and “Clock towers” are planning for the future of the town centre, whilst new developments like Cawston, Coton Park and Eden Park are providing more demand for out of town facilities and amenities alike. With this in mind, if you know anyone that is thinking of selling or letting their property in the near future, please get them to contact Cadman Homes, and enjoy 10% off their selling or letting fees throughout August.

 

 

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