Research: How to analyse property prices in a local area

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PropertyData is the quickest and easiest way to understand property prices (both asking prices and sold prices) in any urban or suburban area in the UK.

Using the Local Data tool, draw the area that you are interested in seeing a pricing analysis for:

Once the dashboard loads, you'll start in the 'Prices' tab by default.

Look just below the main tabs at the tab options, which allow you to customise the type of price data you are seeing, and how it is displayed.

On the left, you can toggle between Asking prices and Sold prices. In the middle you can choose how the pricing data is segmented: by number of bedrooms, or by £/sqft.

And on the right, you can change between Analysis view, Map view, or Data view. In Data view, you can download the raw data to explore offline.

If you're looking at Sold Prices, a final option will appear in the middle which will allow you to customise the data range the transaction data is selected from.

The default analysis view shows 'scatter plots' of the price data. These are a great way to visualise pricing, and you'll notice the average and 80% range displayed below each scatter plot.

If you segment by number of bedrooms, the price of the property is shown on the X-axis, and the Y-axis is randomised.

You can click the '+' icon in the top right of a scatter plot to enlarge it. Each data point can be clicked to find out more.

If you segment by £/sqft, the Y-axis shows the square footage of the property. This allows you to see the relationship between size of property and £/sqft – a trendline is shown to help.

In most areas in the UK, £/sqft falls as the size of property increases. This suggests splitting properties might be profitable. In prime areas, this relationship reverses, and £/sqft rises as size of property increases. In these areas, merging properties is profitable.

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