Feb 07, 2023 by HM

House prices in Petts Wood (BR6 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Petts Wood (BR6 0).

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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. 55, Lodge Crescent, Petts Wood, Orpington, sold for £460,000 on Sep-2023. Given the internal area of 81 square metres, the price per sqm is £5,679.

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. £5,150-£5,500, £5,500-£5,850, £5,850-£6,200 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 261 sales in Petts Wood (BR6 0) 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 Petts Wood (BR6 0). Of the 261 transactions, half were sold for between £4,850 and £6,460 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,460m². 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 'BR6 0' is £5,600. The table below shows how 'BR6 0' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BR6 9 Orpington	£5,300m2	£5,990m2	£6,750m2
BR6 0 Petts Wood	£4,850m2	£5,600m2	£6,460m2
BR6 7 Farnborough	£5,140m2	£5,840m2	£6,580m2
BR6 6 Green Street Green	£5,190m2	£5,870m2	£6,600m2
BR6 8 Orpington	£5,280m2	£6,140m2	£7,070m2

Will Petts Wood 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 BR6 0 (Petts Wood). 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 BR6 0 and the blue dots are the individual property sales that inform this trend.

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

Price map for Petts Wood

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 Petts Wood. 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 Petts Wood

Street level data

Street	Avg size	Avg £/m2	Recent sales
Court Road, Petts Wood, BR6 0P	94m2	£5,416	40
Knoll Rise, Petts Wood, BR6 0F	52m2	£5,171	26
Lancing Road, Petts Wood, BR6 0Q	113m2	£6,012	26
Chislehurst Road, Petts Wood, BR6 0D	105m2	£5,199	21
Perry Hall Road, Petts Wood, BR6 0H	77m2	£4,912	18
High Street, Petts Wood, BR6 0J	72m2	£4,107	15
Elmcroft Road, Petts Wood, BR6 0H	81m2	£4,730	15
Cowden Road, Petts Wood, BR6 0T	82m2	£4,672	15

Search for your street here.

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.

Address	Paid	m2	£/m2
87, Lancing Rd, Petts Wood, Orpington	£537,000 Sep-2023	104	5,163
55, Lodge Crescent, Petts Wood, Orpington	£460,000 Sep-2023	81	5,679
30, Coleridge Way, Petts Wood, Orpington	£185,000 Sep-2023	57	3,245

See the entire list of all sales in Petts Wood (BR6 0) here.