Cadman Homes looks at property market in Rugby

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Cadman Homes estate agent in Rugby has put together some facts and comments about the Rugby property market.

The data collected was from January 4 and was taken from a range of sources including the land registry.

They found the average asking price for sale in the Rugby area is £384,995 with a stock of 301 properties on the market.

The average asking price to let in the Rugby area is £711pcm with a stock of 95 properties on the market.

The average property price is £200,408. This works out at as value change over the past year (12 months) as £12,258 (6.51 per cent)

The average value of detached houses is £305,816. The figure is £171,165 for semi-detached houses and £137,147 for terraced houses.

Flats have an average value of £117,723. The average value per square foot of detached houses is £210, of semi-detached houses £181, of terraced houses £165 and of flats £186.

The current average asking prices for a one-bed property is £72,737, for a two-bed £164,398, for a three-bed £212,690, for a four-bed £307,598 and for a five-beds £528,908.

Adam McHenry, director at Cadman Homes, said: “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.”

Adam added: “We certainly need more houses to sell and let across the Rugby area to keep up with demand.”

Contact Cadman Homes for 10% off selling or letting fees throughout February. Call (01788) 560905 or visit www.cadmanhomes.co.uk