Feb 07, 2023 by HM

House prices in Bricket Wood (AL2 3)

This article reveals price per square metre data and various charts to help you understand current housing market in Bricket Wood (AL2 3).

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Price per square metre

Knowing the average house price in Bricket Wood 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

E.g. 12, The Meads, Bricket Wood, London Colney, sold for £750,000 on Sep-2023. Given the internal area of 129 square metres, the price per sqm is £5,813.

England & Wales have been officially metric for many decades. However house price per square foot is sometimes prefered by those of sufficiently advanced age. They may want to convert metres on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £5,600-£6,000, £6,000-£6,400, £6,400-£6,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 172 sales in Bricket Wood (AL2 3) that took place in the last two years.

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.

That said, the spread of prices will give you a feel of the typical range to expect in Bricket Wood (AL2 3). Of the 172 transactions, half were sold for between £5,240 and £6,780 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,780m². For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

For the average, we calculate the 'median' or middle price. The median price per square metre in 'AL2 3' is £5,930. The table below shows how 'AL2 3' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
AL2 1 London Colney	£4,430m2	£5,060m2	£5,790m2
AL2 3 Bricket Wood	£5,240m2	£5,930m2	£6,780m2
AL2 2 Park Street	£5,160m2	£5,920m2	£6,530m2

Will Bricket Wood house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the scatter plot below for AL2 3 (Bricket Wood). From this one could infer a range of reasonable possible future price falls or rises. In the chart below, the red dashed line is the house price trend for AL2 3 and the blue dots are the individual property sales that inform this trend.

Disclaimer: The data provided throughout this website about Bricket Wood and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information. Furthermore, I cannot guarantee the accuracy of any data shown. This information is based on sold prices and internal area data provided by Land Registry and other third parties - I do not verify the accuracy of the Bricket Wood data or any other data I am given.

Price map for Bricket Wood

I've just finished coding the map I link to below. I find it useful and I am sure it will help you in exploring Bricket Wood. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values. I will explain more about the methodology and create a key next week.

House price heatmap for Bricket Wood

Street level data

Street	Avg size	Avg £/m2	Recent sales
Watford Road, Bricket Wood, AL2 3D	130m2	£5,941	21
Black Boy Wood, Bricket Wood, AL2 3L	81m2	£4,490	12
Mount Pleasant Lane, Bricket Wood, AL2 3X	171m2	£5,144	12
Claremont, Bricket Wood, AL2 3L	89m2	£5,176	11
West Riding, Bricket Wood, AL2 3Q	106m2	£6,230	11
Stanley Avenue, Bricket Wood, AL2 3A	115m2	£7,707	10
Ragged Hall Lane, Bricket Wood, AL2 3L	158m2	£6,699	10
Driftwood Avenue, Bricket Wood, AL2 3D	97m2	£6,553	10

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Barnes Wallis Way, Bricket Wood, AL2 3F	109m2	£4,836	19
Percy Drive, Bricket Wood, AL2 3F	117m2	£7,286	18

Barnes Wallis Way, Bricket Wood, AL2 3F has seen 19 new build sales in the last 4 years (average price £577,472). These new build homes typically have an internal area of 109 m2, with an average price of £4,836 m2. This £sqm average is £-1094 below the average for AL2 3. New builds typically command a £ per sqm premium. In the case of Barnes Wallis Way the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

Raw data

Our analysis of Bricket Wood 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	m2	£/m2
12, The Meads, Bricket Wood, London Colney	£750,000 Sep-2023	129	5,813
58, West Riding, Bricket Wood, London Colney	£690,000 Aug-2023	90	7,666
9, West Riding, Bricket Wood, London Colney	£915,000 Aug-2023	187	4,893

See the entire list of all sales in Bricket Wood (AL2 3) here.