Feb 07, 2023 by HM

House prices in Redditch (B98 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Redditch (B98 0).

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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. 6, Berkeley Close, Redditch, sold for £325,000 on Aug-2023. Given the internal area of 73 square metres, the price per sqm is £4,452.

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 280 sales in Redditch (B98 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 Redditch (B98 0). Of the 280 transactions, half were sold for between £2,270 and £3,490 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,490m². 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 'B98 0' is £2,850. The table below shows how 'B98 0' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
B98 7 Redditch	£2,070m2	£2,520m2	£3,140m2
B98 0 Redditch	£2,270m2	£2,850m2	£3,490m2
B98 8 Church Hill	£2,190m2	£2,720m2	£3,280m2
B98 9 Church Hill	£2,320m2	£3,120m2	£3,810m2

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 B98 0 (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 B98 0 and the blue dots are the individual property sales that inform this trend.

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.

Price map for Redditch

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 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. I will explain more about the methodology and create a key next week.

House price heatmap for Redditch

Street level data

Street	Avg size	Avg £/m2	Recent sales
Cheswick Close, Redditch, B98 0Q	72m2	£3,439	23
Foxcote Close, Redditch, B98 0P	68m2	£3,465	21
Atcham Close, Redditch, B98 0N	86m2	£3,043	17
Winforton Close, Redditch, B98 0J	61m2	£2,058	17
Ledbury Close, Redditch, B98 0B	81m2	£3,287	15
Linton Close, Redditch, B98 0N	90m2	£1,861	15
Shottery Close, Redditch, B98 0G	66m2	£2,384	14
Pembridge Close, Redditch, B98 0J	75m2	£2,484	14

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Packington Close, Redditch, B98 0F	121m2	£3,164	9

Packington Close, Redditch, B98 0F has seen 9 new build sales in the last 4 years (average price £403,044). These new build homes typically have an internal area of 121 m2, with an average price of £3,164 m2. This £sqm average is £314 above the average for B98 0. New builds typically command a £ per sqm premium so this is normal.

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
6, Berkeley Close, Redditch	£325,000 Aug-2023	73	4,452
2, Middleton Mews, Redditch	£190,000 Aug-2023	61	3,114
7, Jackfield Close, Redditch	£340,000 Aug-2023	127	2,677

See the entire list of all sales in Redditch (B98 0) here.