Feb 07, 2023 by HM

House prices in Bury (BL8 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Bury (BL8 1).

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Price per square metre

Knowing the average house price in Bury 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. 22, Kingsbury Close, Bury, sold for £252,000 on Oct-2023. Given the internal area of 107 square metres, the price per sqm is £2,355.

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 308 sales in Bury (BL8 1) 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 Bury (BL8 1). Of the 308 transactions, half were sold for between £1,970 and £3,160 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,160m². 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 'BL8 1' is £2,530. The table below shows how 'BL8 1' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BL8 3 Tottington	£2,180m2	£2,540m2	£3,200m2
BL8 4 Greenmount	£2,830m2	£3,450m2	£3,980m2
BL8 1 Bury	£1,970m2	£2,530m2	£3,160m2
BL8 2 Bury	£1,900m2	£2,810m2	£3,420m2

Will Bury 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 BL8 1 (Bury). 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 BL8 1 and the blue dots are the individual property sales that inform this trend.

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

Price map for Bury

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 Bury. 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 Bury

Street level data

Street	Avg size	Avg £/m2	Recent sales
Walshaw Road, Bury, BL8 1P	85m2	£2,374	26
Tottington Road, Bury, BL8 1S	72m2	£1,544	17
Walshaw Road, Bury, BL8 1N	75m2	£1,929	16
Cotswold Crescent, Bury, BL8 1Q	75m2	£3,306	15
Bankhouse Road, Bury, BL8 1D	87m2	£2,870	14
Elton Fold Chase, Bury, BL8 1P	76m2	£3,074	14
Kingsbury Close, Bury, BL8 1W	110m2	£2,402	13
Merton Street, Bury, BL8 1A	79m2	£1,660	12

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Prospect Terrace, Bury, BL8 1D	69m2	£2,174	34

Prospect Terrace, Bury, BL8 1D has seen 34 new build sales in the last 4 years (average price £136,288). These new build homes typically have an internal area of 69 m2, with an average price of £2,174 m2. This £sqm average is £-356 below the average for BL8 1. New builds typically command a £ per sqm premium. In the case of Prospect Terrace 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 Bury 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
22, Kingsbury Close, Bury	£252,000 Oct-2023	107	2,355
8, Olive Bank, Bury	£178,000 Sep-2023	63	2,825
Flat 8 Riverbank Apartments, 50, Tottington Rd, Bury	£108,000 Aug-2023	64	1,687

See the entire list of all sales in Bury (BL8 1) here.