Feb 07, 2023 by HM

House prices in Greenmount (BL8 4)

This article reveals price per square metre data and various charts to help you understand current housing market in Greenmount (BL8 4).

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Price per square metre

Knowing the average house price in Greenmount 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. 3, Windsor Close, Greenmount, Bury, sold for £335,000 on Jul-2023. Given the internal area of 72 square metres, the price per sqm is £4,652.

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. £3,350-£3,500, £3,500-£3,650, £3,650-£3,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 110 sales in Greenmount (BL8 4) 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 Greenmount (BL8 4). Of the 110 transactions, half were sold for between £2,770 and £3,930 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,930m². 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 4' is £3,420. The table below shows how 'BL8 4' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BL8 4 Greenmount	£2,770m2	£3,420m2	£3,930m2
BL8 2 Bury	£1,900m2	£2,780m2	£3,370m2
BL8 1 Bury	£2,040m2	£2,540m2	£3,170m2
BL8 3 Tottington	£2,180m2	£2,570m2	£3,200m2

Will Greenmount 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 4 (Greenmount). 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 4 and the blue dots are the individual property sales that inform this trend.

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

Price map for Greenmount

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 Greenmount. 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 Greenmount

Street level data

Street	Avg size	Avg £/m2	Recent sales
Holcombe Road, Greenmount, BL8 4B	91m2	£2,423	16
Bolton Road, Greenmount, BL8 4J	101m2	£2,755	16
Springside View, Greenmount, BL8 4L	109m2	£2,940	11
Vernon Road, Greenmount, BL8 4D	104m2	£3,091	9
Sandringham Drive, Greenmount, BL8 4D	89m2	£3,925	9
Turton Road, Greenmount, BL8 4A	112m2	£2,459	9
Holcombe Road, Greenmount, BL8 4E	145m2	£3,089	8
Victoria Street, Greenmount, BL8 4A	75m2	£2,635	7

Search for your street here.

Raw data

Our analysis of Greenmount 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
3, Windsor Close, Greenmount, Bury	£335,000 Jul-2023	72	4,652
2, Conway Crescent, Greenmount, Bury	£270,000 Jul-2023	66	4,090
Plant Farm, Cross Lane, Greenmount, Bury	£830,000 Jul-2023	202	4,108

See the entire list of all sales in Greenmount (BL8 4) here.