House prices in BA5 2 (Wells)

This article reveals price per square metre data and various charts to help you understand current housing market in Wells (BA5 2).


Defining 'BA5 2'

This analysis is limited to properties whose postcode starts with "BA5 2", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Wells.

You can click on the map labels to change to a neighbouring sector, or you can enter a different postcode sector (e.g. CM23 4) below.

FYI, a postcode sector is the full postcode without the last two letters.

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. 15, Market Street, Wells, sold for £285,000 on Mar-2024. Given the internal area of 101 square metres, the price per sqm is £2,821.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters 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. £3,800-£4,000, £4,000-£4,200, £4,200-£4,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 199 sales in Wells (BA5 2) that took place in the last two years.

Distribution of £ per sqm for Wells
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 2). Of the 199 transactions, half were sold for between £3,150 and £4,440 per square metre. The median, or 'middle', price per square metre in 'BA5 2' is £3,880. Notably, only 25% of properties that sold recently were valued at more than £4,440 sqm. 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 2' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BA5 1 Wells £3,170 sqm £3,660 sqm £4,180 sqm
BA5 3 South Horrington Village £3,330 sqm £3,830 sqm £4,520 sqm
BA5 2 Wells £3,150 sqm £3,880 sqm £4,440 sqm

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 chart below for BA5 2 (Wells) compared with both the wider area BA5 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

Historic price per square metre in Wells,Wells
House price trends for Wells

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

Most recent BA5 2 sales
Recent trends for Wells

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Wells to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. 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.

Street level data

Street Avg size Avg £sqm Recent sales
Milton Lane, Wells, BA5 2Q 92 sqm £3,534 25
Woodbury Avenue, Wells, BA5 2X 78 sqm £3,983 21
St Thomas Street, Wells, BA5 2U 104 sqm £3,549 21
Portway, Wells, BA5 2B 134 sqm £3,373 16
Burcott Road, Wells, BA5 2E 96 sqm £2,977 16
Wookey Hole Road, Wells, BA5 2N 105 sqm £3,691 15
Lethbridge Road, Wells, BA5 2F 68 sqm £3,776 13
West Street, Wells, BA5 2G 58 sqm £5,164 12

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 sqm £/sqm
15, Market St, Wells £285,000
Mar-2024
101 2,821
27, Millers Gardens, Wells £480,000
Mar-2024
100 4,800
38, Jocelyn Drive, Wells £330,000
Feb-2024
78 4,230

See the entire list of all sales in Wells (BA5 2) here.

About

I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.