Feb 07, 2023 by HM

House prices in Northfield (B31 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Northfield (B31 1).

---

Price per square metre

Knowing the average house price in Northfield 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. 49, Spiceland Road, Northfield, Birmingham, sold for £350,000 on Sep-2023. Given the internal area of 96 square metres, the price per sqm is £3,645.

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. £2,350-£2,500, £2,500-£2,650, £2,650-£2,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 209 sales in Northfield (B31 1) 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 Northfield (B31 1). Of the 209 transactions, half were sold for between £2,220 and £2,940 per square metre. Notably, only 25% of properties that sold recently were valued at more than £2,940m². 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 'B31 1' is £2,570. The table below shows how 'B31 1' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
B31 4 Northfield	£2,150m2	£2,590m2	£3,060m2
B31 5 Northfield	£2,400m2	£2,750m2	£3,110m2
B31 1 Northfield	£2,220m2	£2,570m2	£2,940m2
B31 2 Northfield	£2,200m2	£2,780m2	£3,370m2
B31 3 Northfield	£2,140m2	£2,580m2	£3,060m2

Will Northfield 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 B31 1 (Northfield). 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 B31 1 and the blue dots are the individual property sales that inform this trend.

Disclaimer: The data provided throughout this website about Northfield 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 Northfield data or any other data I am given.

Price map for Northfield

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 Northfield. 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 Northfield

Street level data

Street	Avg size	Avg £/m2	Recent sales
Ley Hill Farm Road, Northfield, B31 1U	79m2	£2,488	28
Cromwell Lane, Northfield, B31 1A	81m2	£2,012	23
Senneleys Park Road, Northfield, B31 1A	101m2	£2,946	23
Spiceland Road, Northfield, B31 1N	93m2	£2,668	20
Nigel Avenue, Northfield, B31 1L	78m2	£2,686	18
Elmdale Crescent, Northfield, B31 1S	71m2	£2,179	18
Long Nuke Road, Northfield, B31 1D	83m2	£1,903	14
Cheverton Road, Northfield, B31 1R	81m2	£1,981	12

Search for your street here.

Raw data

Our analysis of Northfield 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
49, Spiceland Rd, Northfield, Birmingham	£350,000 Sep-2023	96	3,645
207, Ley Hill Farm Rd, Northfield, Birmingham	£182,500 Sep-2023	82	2,225
52, Spiceland Rd, Northfield, Birmingham	£271,950 Aug-2023	85	3,199

See the entire list of all sales in Northfield (B31 1) here.