Feb 07, 2023 by HM

House prices in Romsley (B62 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Romsley (B62 0).

---

Price per square metre

Knowing the average house price in Romsley 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. Rose Cottage, Dayhouse Bank, Romsley, Halesowen, sold for £245,000 on Aug-2023. Given the internal area of 64 square metres, the price per sqm is £3,828.

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. £3,800-£4,000, £4,000-£4,200, £4,200-£4,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 133 sales in Romsley (B62 0) 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 Romsley (B62 0). Of the 133 transactions, half were sold for between £2,970 and £4,010 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,010m². 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 'B62 0' is £3,400. The table below shows how 'B62 0' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
B62 0 Romsley	£2,970m2	£3,400m2	£4,010m2
B62 9 Halesowen	£2,200m2	£2,840m2	£3,350m2
B62 8 Halesowen	£2,330m2	£2,860m2	£3,350m2

Will Romsley 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 B62 0 (Romsley). 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 B62 0 and the blue dots are the individual property sales that inform this trend.

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

Price map for Romsley

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 Romsley. 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 Romsley

Street level data

Street	Avg size	Avg £/m2	Recent sales
Bromsgrove Road, Romsley, B62 0J	128m2	£3,890	20
St Kenelms Road, Romsley, B62 0N	126m2	£3,611	18
Manor Abbey Road, Romsley, B62 0A	115m2	£3,668	16
Howley Grange Road, Romsley, B62 0H	89m2	£3,114	16
Raddens Road, Romsley, B62 0A	119m2	£3,363	15
Waverley Crescent, Romsley, B62 0N	93m2	£3,163	12
Dark Lane, Romsley, B62 0P	114m2	£3,547	11
Bournebrook Crescent, Romsley, B62 0H	68m2	£1,839	10

Search for your street here.

Raw data

Our analysis of Romsley 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
Rose Cottage, Dayhouse Bank, Romsley, Halesowen	£245,000 Aug-2023	64	3,828
28, Raddens Rd, Romsley, Halesowen	£490,000 Aug-2023	138	3,550
Flat 23 Pegasus Court, Spies Lane, Romsley, Halesowen	£140,000 Aug-2023	47	2,978

See the entire list of all sales in Romsley (B62 0) here.