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 'BA5 2' (Wells) - statistics were last calculated on 30 June 2024.

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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.

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Change sector

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. Kintore, 19, Ash Close, Wells, sold for £585,000 on May-2024. Given the internal area of 165 square metres, the price per sqm is £3,545.

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 192 sales in Wells (BA5 2) 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.

The spread of prices will give you a feel of the typical range to expect in Wells (BA5 2). Of the 192 transactions, half were sold for between £3,180 and £4,440 per square metre. The median, or 'middle', price per square metre in 'BA5 2' is £3,820. 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.

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	£4,200 sqm
BA5 3 South Horrington Village	£3,400 sqm	£3,870 sqm	£4,610 sqm
BA5 2 Wells	£3,180 sqm	£3,820 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.

Download time series data as CSV (paying users only).

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.

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
St Thomas Street, Wells, BA5 2U	104 sqm	£3,549	21
Woodbury Avenue, Wells, BA5 2X	78 sqm	£3,983	21
Portway, Wells, BA5 2B	135 sqm	£3,333	17
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
Chamberlain Street, Wells, BA5 2P	119 sqm	£4,008	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
Kintore, 19, Ash Close, Wells	£585,000 May-2024	165	3,545
3, Crease Close, Wells	£458,000 Apr-2024	104	4,403
4, Hillside Close, Wells	£485,000 Apr-2024	88	5,511

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