Feb 07, 2023 by HM

House prices in Smethwick (B66 4)

This article reveals price per square metre data and various charts to help you understand current housing market in Smethwick (B66 4).


Price per square metre

Knowing the average house price in Smethwick 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. Flat 2 Milton Court, Sandon Road, Smethwick, sold for £52,000 on Oct-2023. Given the internal area of 46 square metres, the price per sqm is £1,130.

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 137 sales in Smethwick (B66 4) that took place in the last two years.

Distribution of £ per sqm for Smethwick (B66 4)
Distribution of £ per sqm house prices in Smethwick

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 Smethwick (B66 4). Of the 137 transactions, half were sold for between £1,690 and £2,350 per square metre. Notably, only 25% of properties that sold recently were valued at more than £2,350m2. 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 'B66 4' is £2,030. The table below shows how 'B66 4' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
B66 1 Smethwick £1,570m2 £1,810m2 £2,140m2
B66 2 Smethwick £1,300m2 £1,730m2 £2,360m2
B66 3 Smethwick £1,750m2 £2,020m2 £2,680m2
B66 4 Smethwick £1,690m2 £2,030m2 £2,350m2

Will Smethwick 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 B66 4 (Smethwick). 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 B66 4 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Smethwick (B66 4) over time
House price trends for Smethwick

Hover on any blue dot to see details of specific sales

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

Price map for Smethwick

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 Smethwick. 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.

Property price heatmap for Smethwick
House price heatmap for Smethwick

Street level data

Street Avg size Avg £/m2 Recent sales
Merrivale Road, Smethwick, B66 4E 82m2 £2,261 21
Linden Road, Smethwick, B66 4D 84m2 £1,959 17
Sandon Road, Smethwick, B66 4A 54m2 £1,477 16
Edith Road, Smethwick, B66 4Q 86m2 £1,738 11
Gilbert Road, Smethwick, B66 4P 91m2 £1,766 10
Marlborough Road, Smethwick, B66 4D 84m2 £2,044 10
Drayton Road, Smethwick, B66 4A 80m2 £2,106 10
Harden Keep, Smethwick, B66 4H 47m2 £2,284 10

Search for your street here.

Raw data

Our analysis of Smethwick 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
Flat 2 Milton Court, Sandon Rd, Smethwick £52,000
Oct-2023
46 1,130
14, Kinsey Rd, Smethwick £62,000
Sep-2023
54 1,148
94, Edith Rd, Smethwick £196,000
Aug-2023
86 2,279

See the entire list of all sales in Smethwick (B66 4) here.

About

HouseMetric is a hobby, created out of a desire to see data and analysis not present on any free to use website. It is still a work in progress and I'll add more stuff in the near future.