Feb 07, 2023 by HM

House prices in Nangreaves (BL9 6)

This article reveals price per square metre data and various charts to help you understand current housing market in Nangreaves (BL9 6).


Price per square metre

Knowing the average house price in Nangreaves 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. 58, Milbourne Road, Nangreaves, Bury, sold for £295,000 on Sep-2023. Given the internal area of 78 square metres, the price per sqm is £3,782.

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. £2,350-£2,500, £2,500-£2,650, £2,650-£2,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 217 sales in Nangreaves (BL9 6) that took place in the last two years.

Distribution of £ per sqm for Nangreaves (BL9 6)
Distribution of £ per sqm house prices in Nangreaves

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 Nangreaves (BL9 6). Of the 217 transactions, half were sold for between £1,580 and £2,420 per square metre. Notably, only 25% of properties that sold recently were valued at more than £2,420m2. 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 'BL9 6' is £2,010. The table below shows how 'BL9 6' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BL9 6 Nangreaves £1,580m2 £2,010m2 £2,420m2
BL9 9 Bury £1,870m2 £2,310m2 £2,840m2
BL9 0 Bury £1,540m2 £2,120m2 £2,540m2
BL9 8 Unsworth £2,390m2 £3,010m2 £3,410m2
BL9 5 Summerseat £1,580m2 £2,210m2 £2,880m2
BL9 7 Heap £1,520m2 £1,900m2 £2,320m2

Will Nangreaves 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 BL9 6 (Nangreaves). 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 BL9 6 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Nangreaves (BL9 6) over time
House price trends for Nangreaves

Hover on any blue dot to see details of specific sales

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

Price map for Nangreaves

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 Nangreaves. 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.

Property price heatmap for Nangreaves
House price heatmap for Nangreaves

Street level data

Street Avg size Avg £/m2 Recent sales
Derby Court, Nangreaves, BL9 6W 61m2 £1,833 24
Mount Pleasant, Nangreaves, BL9 6S 73m2 £2,365 15
Walmersley Road, Nangreaves, BL9 6N 100m2 £1,795 13
Chesham Road, Nangreaves, BL9 6L 75m2 £1,484 11
Bell Lane, Nangreaves, BL9 6H 86m2 £1,407 11
Lowes Road, Nangreaves, BL9 6P 91m2 £2,583 11
Walmersley Old Road, Nangreaves, BL9 6S 84m2 £2,572 11
Ribble Drive, Nangreaves, BL9 6R 81m2 £2,163 10

Search for your street here.

Raw data

Our analysis of Nangreaves 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
58, Milbourne Rd, Nangreaves, Bury £295,000
Sep-2023
78 3,782
176, Ferngrove, Nangreaves, Bury £125,000
Sep-2023
75 1,666
25, Malvern Avenue, Nangreaves, Bury £185,000
Aug-2023
100 1,850

See the entire list of all sales in Nangreaves (BL9 6) 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.