Feb 07, 2023 by HM

House prices in Redditch (B97 6)

This article reveals price per square metre data and various charts to help you understand current housing market in Redditch (B97 6).


Defining 'B97 6'

This analysis is limited to properties whose postcode starts with "B97 6", 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 Redditch 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. 50, Gloucester Close, Redditch, sold for £65,000 on Feb-2024. Given the internal area of 40 square metres, the price per sqm is £1,625.

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. £2,900-£3,000, £3,000-£3,100, £3,100-£3,200 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 230 sales in Redditch (B97 6) that took place in the last two years.

Distribution of £ per sqm for Redditch (B97 6)
Distribution of £ per sqm house prices in Redditch

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 Redditch (B97 6). Of the 230 transactions, half were sold for between £2,540 and £3,590 per square metre. The median, or 'middle', price per square metre in 'B97 6' is £3,060. Notably, only 25% of properties that sold recently were valued at more than £3,590m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Redditch

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 Redditch. 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.

Property price heatmap for Redditch
House price heatmap for Redditch

Comparison with neighbouring postcode sectors

The table below shows how 'B97 6' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
B97 5 Redditch £2,920m2 £3,430m2 £3,930m2
B97 6 Redditch £2,540m2 £3,060m2 £3,590m2
B97 4 Redditch £2,220m2 £2,730m2 £3,250m2

Will Redditch 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 B97 6 (Redditch). 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 B97 6 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Redditch (B97 6) over time
House price trends for Redditch

Hover on any blue dot to see details of specific sales

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

Street level data

Street Avg size Avg £/m2 Recent sales
Dixon Close, Redditch, B97 6A 86m2 £2,301 31
Gloucester Close, Redditch, B97 6A 64m2 £1,999 28
Birmingham Road, Redditch, B97 6E 98m2 £2,477 28
Foxlydiate Crescent, Redditch, B97 6N 92m2 £2,362 25
Wheatcroft Close, Redditch, B97 6U 85m2 £3,169 18
Wheelers Lane, Redditch, B97 6G 93m2 £2,804 15
Hawling Street, Redditch, B97 6B 84m2 £2,886 15
Appletree Lane, Redditch, B97 6T 74m2 £3,240 13

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Owlham Close, Redditch, B97 6D 104m2 £2,812 11

Owlham Close, Redditch, B97 6D has seen 11 new build sales in the last 4 years (average price £312,472). These new build homes typically have an internal area of 104 m2, with an average price of £2,812 m2. This £sqm average is £-248 below the average for B97 6. New builds typically command a £ per sqm premium. In the case of Owlham Close 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 Redditch 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
50, Gloucester Close, Redditch £65,000
Feb-2024
40 1,625
81, Pulman Close, Redditch £319,000
Feb-2024
90 3,544
3, Baxters Court, Redditch £220,000
Jan-2024
63 3,492

See the entire list of all sales in Redditch (B97 6) 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.