Feb 07, 2023 by HM

# House prices in Northfield (B31 3)

## Defining 'B31 3'

This analysis is limited to properties whose postcode starts with "B31 3", this is also called the postcode sector. It is shown in red on the map above. You can click on the map labels to change to a neighbouring sector.

## 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. 116, The Fordrough, Northfield, Birmingham, sold for £190,000 on Feb-2024. Given the internal area of 73 square metres, the price per sqm is £2,602.

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 214 sales in Northfield (B31 3) that took place in the last two years.

##### Distribution of £ per sqm for Northfield (B31 3)
Distribution of £ per sqm house prices in Northfield

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 Northfield (B31 3). Of the 214 transactions, half were sold for between £2,200 and £2,990 per square metre. The median, or 'middle', price per square metre in 'B31 3' is £2,610. Notably, only 25% of properties that sold recently were valued at more than £2,990m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Northfield

Do have a look at the interactive price map I created. 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.

House price heatmap for Northfield

## Comparison with neighbouring postcode sectors

The table below shows how 'B31 3' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
B31 1 Northfield £2,160m2 £2,720m2 £3,030m2
B31 2 Northfield £2,280m2 £2,770m2 £3,370m2
B31 3 Northfield £2,200m2 £2,610m2 £2,990m2
B31 4 Northfield £2,190m2 £2,770m2 £3,140m2
B31 5 Northfield £2,450m2 £2,830m2 £3,150m2

## 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.

##### Price per square metre in Northfield (B31 3) over time
House price trends for Northfield

Hover on any blue dot to see details of specific sales

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.

## Street level data

Street Avg size Avg £/m2 Recent sales
Sir Hiltons Road, Northfield, B31 3N 76m2 £2,417 30
Alvechurch Road, Northfield, B31 3P 77m2 £2,647 23
Rea Valley Drive, Northfield, B31 3X 67m2 £3,143 20
Wychall Road, Northfield, B31 3A 94m2 £2,963 17
Station Road, Northfield, B31 3T 63m2 £2,257 14
Highcrest Close, Northfield, B31 3R 80m2 £1,937 13
Middlemore Road, Northfield, B31 3U 93m2 £2,420 13
Gibbs Hill Road, Northfield, B31 3N 91m2 £2,410 12

## New build activity

Street Avg size Avg £/m2 New build sales
Redhill Road, Northfield, B31 3J 68m2 £2,433 11

Redhill Road, Northfield, B31 3J has seen 11 new build sales in the last 4 years (average price £142,004). These new build homes typically have an internal area of 68 m2, with an average price of £2,433 m2. This £sqm average is £-177 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.