Feb 07, 2023 by HM

House prices in Northfield (B31 3)

This article reveals price per square metre data and various charts to help you understand current housing market in Northfield (B31 3).

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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. 102, The Fordrough, Northfield, Birmingham, sold for £145,000 on Sep-2023. Given the internal area of 70 square metres, the price per sqm is £2,071.

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. £2,800-£3,000, £3,000-£3,200, £3,200-£3,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 221 sales in Northfield (B31 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 Northfield (B31 3). Of the 221 transactions, half were sold for between £2,140 and £3,060 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,060m². 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 3' is £2,580. The table below shows how 'B31 3' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
B31 3 Northfield	£2,140m2	£2,580m2	£3,060m2
B31 4 Northfield	£2,130m2	£2,600m2	£3,070m2
B31 5 Northfield	£2,410m2	£2,760m2	£3,120m2
B31 1 Northfield	£2,220m2	£2,570m2	£2,930m2
B31 2 Northfield	£2,230m2	£2,780m2	£3,370m2

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 3 (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 3 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
Sir Hiltons Road, Northfield, B31 3N	75m2	£2,403	31
Alvechurch Road, Northfield, B31 3P	77m2	£2,518	28
Rea Valley Drive, Northfield, B31 3X	66m2	£3,137	22
Wychall Road, Northfield, B31 3A	94m2	£2,854	18
Station Road, Northfield, B31 3T	64m2	£2,146	17
Middlemore Road, Northfield, B31 3U	92m2	£2,349	14
Highcrest Close, Northfield, B31 3R	80m2	£1,937	13
Houldey Road, Northfield, B31 3H	63m2	£1,905	12

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Redhill Road, Northfield, B31 3J	68m2	£2,431	11

Redhill Road, Northfield, B31 3J has seen 11 new build sales in the last 4 years (average price £138,854). These new build homes typically have an internal area of 68 m2, with an average price of £2,431 m2. This £sqm average is £-149 below the average for B31 3. New builds typically command a £ per sqm premium. In the case of Redhill Road 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 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
102, The Fordrough, Northfield, Birmingham	£145,000 Sep-2023	70	2,071
33, Exe Croft, Northfield, Birmingham	£181,500 Sep-2023	84	2,160
39, Station Rd, Northfield, Birmingham	£143,000 Sep-2023	61	2,344

See the entire list of all sales in Northfield (B31 3) here.