Feb 07, 2023 by HM

House prices in Lancing (BN15 9)

This article reveals price per square metre data and various charts to help you understand current housing market in Lancing (BN15 9).


Price per square metre

Knowing the average house price in Lancing 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. 73, Ullswater Road, Lancing, sold for £450,000 on Oct-2023. Given the internal area of 70 square metres, the price per sqm is £6,428.

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. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 242 sales in Lancing (BN15 9) that took place in the last two years.

Distribution of £ per sqm for Lancing (BN15 9)
Distribution of £ per sqm house prices in Lancing

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 Lancing (BN15 9). Of the 242 transactions, half were sold for between £3,800 and £4,990 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,990m2. 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 'BN15 9' is £4,320. The table below shows how 'BN15 9' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BN15 0 Sompting £3,860m2 £4,430m2 £5,180m2
BN15 9 Lancing £3,800m2 £4,320m2 £4,990m2
BN15 8 Lancing £3,650m2 £4,360m2 £5,100m2

Will Lancing 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 BN15 9 (Lancing). 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 BN15 9 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Lancing (BN15 9) over time
House price trends for Lancing

Hover on any blue dot to see details of specific sales

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

Price map for Lancing

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 Lancing. 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 Lancing
House price heatmap for Lancing

Street level data

Street Avg size Avg £/m2 Recent sales
First Avenue, Lancing, BN15 9Q 85m2 £3,788 21
Barfield Park, Lancing, BN15 9D 80m2 £4,463 19
Sompting Road, Lancing, BN15 9H 65m2 £3,028 18
Crabtree Lane, Lancing, BN15 9N 71m2 £3,498 16
Annweir Avenue, Lancing, BN15 9N 74m2 £3,668 16
Grinstead Lane, Lancing, BN15 9D 117m2 £3,588 15
Orchard Avenue, Lancing, BN15 9E 85m2 £3,644 15
Grafton Gardens, Lancing, BN15 9S 72m2 £4,062 15

Search for your street here.

Raw data

Our analysis of Lancing 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
73, Ullswater Rd, Lancing £450,000
Oct-2023
70 6,428
9, Elmstone Close, Lancing £262,000
Sep-2023
69 3,797
84, First Avenue, Lancing £335,000
Sep-2023
88 3,806

See the entire list of all sales in Lancing (BN15 9) 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.