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One of the most effective way to look at the valuations of urban and suburban properties, and to compare valuations between properties, is to use price per square foot (£/sqft).
PropertyData has the most comprehensive database of residential asking and sold £/sqft data in the UK.
There are two main places in PropertyData that you can explore £/sqft property prices.
If you're just looking for headline data at larger geographic levels, try our Postcode Data tool, where you can look at £/sqft for postcode districts through England & Wales.
Alternatively, if you want to explore a specific local area in great detail, our Local Data tool is the place to be. Create a new area of interest to generate specific hyper local data.
Once you click 'Generate data', after a short pause you'll arrive at the default 'Prices' tab.
Below the tabs menu, you'll see that you can switch between Asking prices and Sold prices, and then to the right you can switch between viewing prices by bedrooms and £/sqft.
Because we have a larger volume of sold £/sqft data, and because sold prices are usually a better indicator of value than asking prices, we recommend looking at Sold prices by £/sqft.
When looking at sold prices, note that you can customise the date range (last 18 months by default) using the dropdown menu at the top.
You will see a large scatter plot with red points showing all the £/sqft values for your defined area.
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.
At the bottom of the chart, the average £/sqft value is highlighted, as well as the 80% range.
Each dot represents a live asking price and square footage data point. If you click a point, you will see further detail including a summary of the £/sqft calculation, and have to ability to click through to see all the details we have available on this data point.
By inspecting a range of properties in the area, you will be able to understand the range of per square foot prices, and the factors that help determine a property's price per square foot.
Within an area £/sqft tends to be determined by the quality of the space, for example layout, proportions of rooms, finish quality of the kitchen and bathrooms, external views, etc.