Feb 07, 2023 by HM

House prices in Wells (BA5 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Wells (BA5 1).


Defining 'BA5 1'

This analysis is limited to properties whose postcode starts with "BA5 1", 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 Wells 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. Barton, High Street, Wells, sold for £637,500 on Feb-2024. Given the internal area of 148 square metres, the price per sqm is £4,307.

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. £3,700-£4,000, £4,000-£4,300, £4,300-£4,600 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 172 sales in Wells (BA5 1) that took place in the last two years.

Distribution of £ per sqm for Wells (BA5 1)
Distribution of £ per sqm house prices in Wells

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 Wells (BA5 1). Of the 172 transactions, half were sold for between £3,160 and £4,200 per square metre. The median, or 'middle', price per square metre in 'BA5 1' is £3,670. Notably, only 25% of properties that sold recently were valued at more than £4,200m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Wells

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 Wells. 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 Wells
House price heatmap for Wells

Comparison with neighbouring postcode sectors

The table below shows how 'BA5 1' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BA5 3 South Horrington Village £3,350m2 £3,850m2 £4,590m2
BA5 2 Wells £3,160m2 £3,880m2 £4,430m2
BA5 1 Wells £3,160m2 £3,670m2 £4,200m2

Will Wells 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 BA5 1 (Wells). 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 BA5 1 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Wells (BA5 1) over time
House price trends for Wells

Hover on any blue dot to see details of specific sales

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

Street level data

Street Avg size Avg £/m2 Recent sales
Priory Road, Wells, BA5 1S 57m2 £2,366 20
The Cloisters, Wells, BA5 1S 59m2 £3,248 18
Manor Court, Wells, BA5 1E 81m2 £3,161 15
Carlton Court, Wells, BA5 1S 59m2 £3,757 14
Knight Road, Wells, BA5 1F 117m2 £3,286 13
Southover, Wells, BA5 1U 110m2 £2,809 12
St John Street, Wells, BA5 1S 81m2 £3,817 12
Henley Lane, Wells, BA5 1J 106m2 £3,024 10

Search for your street here.

Raw data

Our analysis of Wells 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
Barton, High St, Wells £637,500
Feb-2024
148 4,307
14, Wand Rd, Wells £380,000
Feb-2024
90 4,222
6, Harters Close, Wells £200,000
Feb-2024
84 2,380

See the entire list of all sales in Wells (BA5 1) 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.