Feb 07, 2023 by HM

House prices in Bromley (BR2 7)

This article reveals price per square metre data and various charts to help you understand current housing market in Bromley (BR2 7).

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Price per square metre

Knowing the average house price in Bromley 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. 42, Hayes Hill, Bromley, sold for £420,000 on Sep-2023. Given the internal area of 59 square metres, the price per sqm is £7,118.

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. £6,700-£7,000, £7,000-£7,300, £7,300-£7,600 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 167 sales in Bromley (BR2 7) 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 Bromley (BR2 7). Of the 167 transactions, half were sold for between £5,520 and £6,990 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,990m². 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 'BR2 7' is £6,200. The table below shows how 'BR2 7' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BR2 7 Bromley	£5,520m2	£6,200m2	£6,990m2
BR2 8 Bromley	£5,160m2	£5,660m2	£6,370m2
BR2 0 Bromley	£5,000m2	£5,670m2	£6,440m2
BR2 9 Bromley	£4,970m2	£5,610m2	£6,280m2
BR2 6 Keston	£5,490m2	£6,570m2	£7,350m2

Will Bromley 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 BR2 7 (Bromley). 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 BR2 7 and the blue dots are the individual property sales that inform this trend.

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

Price map for Bromley

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 Bromley. 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 Bromley

Street level data

Street	Avg size	Avg £/m2	Recent sales
Chatham Avenue, Bromley, BR2 7Q	98m2	£6,435	21
Kechill Gardens, Bromley, BR2 7N	121m2	£5,891	16
Hayes Wood Avenue, Bromley, BR2 7B	94m2	£7,069	13
Pickhurst Lane, Bromley, BR2 7J	125m2	£5,884	13
Baston Road, Bromley, BR2 7B	108m2	£5,741	12
Glebe House Drive, Bromley, BR2 7B	90m2	£6,419	12
George Lane, Bromley, BR2 7L	97m2	£5,833	11
Bourne Vale, Bromley, BR2 7N	117m2	£5,339	10

Search for your street here.

Raw data

Our analysis of Bromley 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
42, Hayes Hill, Bromley	£420,000 Sep-2023	59	7,118
36, Kingsdown Way, Bromley	£710,000 Sep-2023	112	6,339
13 Hayes Court, 116, West Common Rd, Bromley	£1,625,000 Sep-2023	233	6,974

See the entire list of all sales in Bromley (BR2 7) here.