House prices in B62 (Halesowen)

This article shows price per square metre data and various charts to help you understand the housing market in B62 - stats were last calculated on 01 November 2024.

Defining 'B62'

This analysis is limited to properties whose postcode starts with "B62", this is also called the postcode district. There are no official postcode district names so I've just labelled it B62, Halesowen. It is shown in red on the map below.

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Price per square metre

Knowing the average house price in B62 is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area

For example in September 2024, 40d, Nimmings Road, Halesowen, B62 9JE sold for £280,000. Given the internal area of 89 square metres recorded on the EPC, the price per sqm is £280,000 ÷ 89 sqm = £3,146.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-). It is a huge pain to code the automatic conversion for square meters to square feet for all the graphs and charts on B62 and elsewhere. All the conditionals turn my tidy code for into spaghetti. I will get around to it at some point, but for now you can just divide everything by 10 in your head, move a decimal place and you'll be close enough. If you want to be more precise 1 sqm = 10.76391 sqft.

Distribution of £ per sqm for houses vs flats in B62

The chart above is called a histogram, it helps you see the distribution of house price per sqm in B62 To make this chart we put all the sales data into a series of £ per sqm 'buckets' (e.g. £2,800 to £3,000, £3,000 to £3,200, £3,200 to £3,400 etc...) we then count the number of sales with within in each bucket and plot the results. The histogram is based on 531 sales that took place in B62, in the last 24 months.

Generate a custom histogram like the one above but based on your own criteria.

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in B62, Halesowen. Notably, only 25% of properties that sold recently were valued at more than £3,570 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of B62 homes.

Box plot of £ per sqm for B62

Tip: click on the chart to see the values.

The chart above is called a boxplot (or a box-and-whisker plot). Box plots, like histograms, are used to graphically represent the distribution of data, showing the central tendency, spread of the distribution. In the context of £ per square metre property price distributions, box plots represent the variation in property prices within a geographic area e.g. Halesowen. The chart above shows a boxplot for 'B62' as well as the 'B' postcode area.

  • Median: The horizontal line inside the box represents the median (£ per square meter). This is the midpoint of the data, meaning 50% of the prices are below this value, and 50% are above. The middle price per square metre in 'B62' is £3,010.
  • Interquartile Range (IQR): The box spans from the 25th percentile (Q1) to the 75th percentile (Q3). This is the range where the middle 50% of the data lies, giving a good indication of the typical price spread. Of the 531 transactions in B62, Halesowen half were sold for between £2,420 and £3,570 per square metre.
  • Whiskers: In our case, the whiskers extend from the 9th percentile (at the lower end) to the 91st percentile (at the upper end), This provides a slightly broader view of the distribution by including the middle 82% of records. The whiskers capture most of the variation but exclude extreme outliers caused by data errors in recording sold house prices or internal area.
  • 'n=' is the number of property transactions the box plot is based on; 531 for B62, Halesowen.

    • Property price map for Halesowen

    Have a look at the interactive price map I created for myself. Use it to explore 'B62' house prices all the way down to individual property plots.

    Property price heatmap for Halesowen
    House price map for Halesowen

    Will B62 house prices drop in 2025?

    I cannot tell what house prices will do in the future and don't believe anyone who says they can. However we can plot price trends, I have done this in the chart below for B62 (Halesowen) compared with the wider postcode area 'B'. You can extrapolate from this based on your own views on future interest rates, inflation and other factors.

    House price index for B62

    Tip: click on the legend items to show/hide different lines

    Download house price index as CSV (premium users only).

    The chart above shows changes in 'B62' property prices over the last 20 years. The index is calculated from the average price paid per sqm for property in B62 and is set to 100 in 2004. The chart compares trends for B62, Halesowen against those of the broader postcode area 'B'. What is more interesting is to look at the difference between flats and houses, even those in the same area follow a very different trend, to get a robust enough sample size to see this we need to zoom out and look at house price trends for the entire Dudley local authority.

    The dashed lines show nominal house price changes, the solid lines show the same data adjusted for inflation. Economists call this the 'real' price change. You have to take inflation into account when comparing prices over time. It's calculated using the formula:

    Real Rate of Return = (1 + Nominal Rate) ÷ (1 + Inflation Rate) – 1
    In this formula, the nominal rate is the rate of change before any adjustments, and the inflation rate is taken from the Consumer Price Index. The real rate of return is a more accurate measure of change in value, because £1 today does not have the same buying power as £1 in the past. For example, if a savings account pays an interest rate of 3% per year and the inflation rate is 5% per year, the real rate of return is -2%. This means that the investment's value is shrinking by 2% each year.

    Historic returns for B62
    B area B62 district
    Nominal Real Nominal Real
    20 yr per annum 3.1% 0.4% 3.3% 0.7%
    20 yr total 82.9% 8.3% 92.4% 13.9%
    10 yr per annum 4.2% 1.4% 4.8% 2.0%
    10 yr total 51.4% 15.0% 60.3% 21.7%
    5 yr per annum 3.6% -0.5% 4.7% 0.6%
    5 yr total 19.4% -2.3% 25.8% 3.0%
    1 yr per annum -1.1% -5.1% -2.7% -6.6%
    1 yr total -1.1% -5.1% -2.7% -6.6%

    This table complements the house price index chart above, presenting the data in a more detailed format. It breaks down the information into 20-year, 10-year, 5-year, and 1-year periods, further categorized by property type. For each period, we display both a per annum rate of change and a total rate of change.

    The total rate of change represents the overall change over the entire period. The formula for total return is:

    Total return = (Index at end of period ÷ Index at start of period) - 1

    The per annum rate of change is the annualized rate of change over the period. This is equivalent to the annual bank savings rate you would need to achieve the same total return over the given period. This annualized return is also known as the Compound Annual Growth Rate (CAGR). The formula for CAGR is:

    CAGR = (1 + Total return) ^ (1 ÷ Number of years) - 1

    Some specific examples:

    • Over the past 20 years, B62 district have seen a 0.7% annual change when adjusted for inflation. This translates to a total change of 13.9% in real terms.
    • Over the past 5 years, B area have seen a -0.5% annual change when adjusted for inflation. This translates to a total change of -2.3% in real terms.

    Most recent B62 sales

    For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

    Tip: hover over dots to see details

    Street level data

    Street Avg size Avg £sqm Recent sales
    Bromsgrove Road, , B62 0J 131 sqm £3,969 22
    Spies Lane, , B62 9S 100 sqm £3,471 21
    Woodbury Road, , B62 9A 90 sqm £3,041 20
    Summerfields Avenue, , B62 9N 95 sqm £2,721 18
    Manor Abbey Road, , B62 0A 115 sqm £3,870 17
    Lyttleton Avenue, , B62 9E 80 sqm £3,016 16
    Middlefield Avenue, , B62 9Q 96 sqm £2,764 16
    Raddens Road, , B62 0A 117 sqm £3,411 15

    Search for your street here.

    Nearby geographies

    The table below shows how 'B62' compares to the other postcode districts nearby 'B62'.

    District Lower quartile Median Upper quartile Sales in last 2yr
    DY9 Hagley £2,460 sqm £3,090 sqm £3,860 sqm 591
    B98 Redditch £2,150 sqm £2,670 sqm £3,410 sqm 956
    B97 Redditch £2,630 sqm £3,240 sqm £3,750 sqm 865
    B96 Astwood Bank £3,060 sqm £3,530 sqm £4,170 sqm 117
    B95 Henley-In-Arden £3,660 sqm £4,470 sqm £5,060 sqm 164
    B94 Hockley Heath £4,010 sqm £4,790 sqm £5,600 sqm 145
    B93 Knowle £4,240 sqm £4,980 sqm £5,590 sqm 453
    B92 Solihull £2,940 sqm £3,480 sqm £3,990 sqm 859
    B91 Solihull £3,290 sqm £4,190 sqm £4,880 sqm 836
    B90 Shirley £3,200 sqm £3,870 sqm £4,450 sqm 1,484

    Raw data

    Our analysis of B62 is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

    Address Paid sqm £/sqm
    40d, Nimmings Rd, £280,000
    Sep-2024
    		 89 3,146
    193, Kent Rd, £300,000
    Sep-2024
    		 132 2,272
    Flat 9 Mansion Court, Long Lane, £69,000
    Sep-2024
    		 45 1,533

    See the entire list of all sales in B62 here.

    About

    I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.