With a population having expanded to over 90,000, £1.7 million being spent on upgrading Rugby train station and over 800 new homes, the property market in Rugby has seen real expansion in recent times. The new developments are needed as with the exception of detached houses there are only small supplies of flats, semi-detached and terraced houses available to buy. This has led to the price of 4 and 5 bedroom houses rising to between £600,000 - 800,000 at the top end of the market with 3 bedroom detached homes attracting offers of around £300,000. There are bargains to be had lower down the scale but when prices rise sellers may want a high price for a property simply because it is 4 bedrooms but not all 4 bedroom properties are of the same quality. Also some buyers may prefer a Victorian property of character rather than a new build favoured by other buyers in the area.
The rental sector in Rugby can provide more value with quality 4 and 5 bedroom properties available for £1,300 pcm in the more affluent Cawston, with medium budget properties the same size available for around £800 a month in the Bilton area of Rugby.