# House prices in BR5 1 (Petts Wood)

This article reveals price per square metre data and various charts to help you understand current housing market in Petts Wood, Orpington (BR5 1).

## Defining 'BR5 1'

This analysis is limited to properties whose postcode starts with "BR5 1", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Petts Wood.

You can click on the map labels to change to a neighbouring sector, or you can enter a different postcode sector (e.g. CM23 4) below.

FYI, a postcode sector is the full postcode without the last two letters.

## Price per square metre

Knowing the average house price in Petts Wood 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. 40, Beaumont Road, Petts Wood, Orpington, sold for £688,000 on Mar-2024. Given the internal area of 99 square metres, the price per sqm is £6,949.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters 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. £6,250-£6,500, £6,500-£6,750, £6,750-£7,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 251 sales in Petts Wood (BR5 1) that took place in the last two years.

##### Distribution of £ per sqm for Petts Wood, Orpington
Distribution of £ per sqm house prices in Petts Wood

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.

The spread of prices will give you a feel of the typical range to expect in Petts Wood (BR5 1). Of the 251 transactions, half were sold for between £6,040 and £7,520 per square metre. The median, or 'middle', price per square metre in 'BR5 1' is £6,850. Notably, only 25% of properties that sold recently were valued at more than £7,520 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Petts Wood, Orpington

Do have a look at the interactive price map I created. I find it useful and I am sure it will help you in exploring Orpington. 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.

House price heatmap for Petts Wood, Orpington

## Comparison with neighbouring postcode sectors

The table below shows how 'BR5 1' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BR5 4 St Mary Cray £4,520 sqm £5,120 sqm £5,730 sqm
BR5 1 Petts Wood £6,040 sqm £6,850 sqm £7,520 sqm
BR5 3 St Mary Cray £4,210 sqm £4,930 sqm £5,460 sqm
BR5 2 St Mary Cray £4,520 sqm £5,040 sqm £5,720 sqm

## Will Orpington 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 chart below for BR5 1 (Petts Wood) compared with both the wider area BR5 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

##### Historic price per square metre in Petts Wood,Orpington
House price trends for Petts Wood

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

##### Most recent BR5 1 sales
Recent trends for Petts Wood

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Orpington to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about Orpington 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.

## Street level data

Street Avg size Avg £sqm Recent sales
Crescent Drive, Petts Wood, BR5 1B 94 sqm £6,643 23
Clareville Road, Petts Wood, BR5 1R 66 sqm £5,530 21
Crest View Drive, Petts Wood, BR5 1B 101 sqm £6,466 20
Crofton Lane, Petts Wood, BR5 1H 137 sqm £5,697 20
Crescent Drive, Petts Wood, BR5 1A 105 sqm £6,742 20
Shepperton Road, Petts Wood, BR5 1D 57 sqm £6,951 19
St Johns Road, Petts Wood, BR5 1H 118 sqm £6,250 16
Beaumont Road, Petts Wood, BR5 1J 104 sqm £6,011 16

## Raw data

Our analysis of Petts Wood 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.