Feb 07, 2023 by HM

House prices in Cradley Heath (B64 5)

This article reveals price per square metre data and various charts to help you understand current housing market in Cradley Heath (B64 5).

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Price per square metre

Knowing the average house price in Cradley Heath 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, Victoria Road, Cradley Heath, sold for £175,000 on Aug-2023. Given the internal area of 67 square metres, the price per sqm is £2,611.

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 86 sales in Cradley Heath (B64 5) 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 Cradley Heath (B64 5). Of the 86 transactions, half were sold for between £2,060 and £3,130 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,130m². 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 'B64 5' is £2,530. The table below shows how 'B64 5' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
B64 7 Cradley Heath	£2,150m2	£2,620m2	£3,040m2
B64 6 Cradley Heath	£1,830m2	£2,200m2	£2,670m2
B64 5 Cradley Heath	£2,060m2	£2,530m2	£3,130m2

Will Cradley Heath 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 B64 5 (Cradley Heath). 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 B64 5 and the blue dots are the individual property sales that inform this trend.

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

Price map for Cradley Heath

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 Cradley Heath. 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 Cradley Heath

Street level data

Street	Avg size	Avg £/m2	Recent sales
Woodhouse Way, Cradley Heath, B64 5E	65m2	£3,072	10
Whitehall Road, Cradley Heath, B64 5B	82m2	£2,102	10
Spinners End Drive, Cradley Heath, B64 5L	61m2	£3,597	10
New Pool Road, Cradley Heath, B64 5B	73m2	£1,896	9
Denby Way, Cradley Heath, B64 5R	96m2	£3,047	9
Reddal Hill Road, Cradley Heath, B64 5J	64m2	£1,700	8
Fieldfare Close, Cradley Heath, B64 5Q	65m2	£2,944	8
Compton Road, Cradley Heath, B64 5B	110m2	£2,168	7

Search for your street here.

Raw data

Our analysis of Cradley Heath 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, Victoria Rd, Cradley Heath	£175,000 Aug-2023	67	2,611
21, Bramble Close, Cradley Heath	£260,000 Jul-2023	54	4,814
24, Halesowen Rd, Cradley Heath	£175,000 Jun-2023	62	2,822

See the entire list of all sales in Cradley Heath (B64 5) here.