Feb 07, 2023 by HM

House prices in Locking (BS24 8)

This article reveals price per square metre data and various charts to help you understand current housing market in Locking (BS24 8).


Price per square metre

Knowing the average house price in Locking 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. 19, Homefield, Locking, Weston-Super-Mare, sold for £286,000 on Aug-2023. Given the internal area of 85 square metres, the price per sqm is £3,364.

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. £2,800-£3,000, £3,000-£3,200, £3,200-£3,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 129 sales in Locking (BS24 8) that took place in the last two years.

Distribution of £ per sqm for Locking (BS24 8)
Distribution of £ per sqm house prices in Locking

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 Locking (BS24 8). Of the 129 transactions, half were sold for between £2,890 and £3,670 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,670m2. 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 'BS24 8' is £3,300. The table below shows how 'BS24 8' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BS24 7 Weston-Super-Mare £2,770m2 £3,170m2 £3,560m2
BS24 6 Hewish £2,600m2 £3,470m2 £4,150m2
BS24 8 Locking £2,890m2 £3,300m2 £3,670m2
BS24 9 Weston-Super-Mare £2,780m2 £3,280m2 £3,720m2
BS24 0 Bleadon £2,890m2 £3,630m2 £4,180m2

Will Locking 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 BS24 8 (Locking). 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 BS24 8 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Locking (BS24 8) over time
House price trends for Locking

Hover on any blue dot to see details of specific sales

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

Price map for Locking

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 Locking. 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 Locking
House price heatmap for Locking

Street level data

Street Avg size Avg £/m2 Recent sales
Rapide Way, Locking, BS24 8E 90m2 £2,994 21
Whitney Crescent, Locking, BS24 8E 78m2 £2,927 21
Glider Avenue, Locking, BS24 8E 88m2 £3,402 18
Dragonfly Walk, Locking, BS24 8D 76m2 £2,673 15
Cedern Avenue, Locking, BS24 8P 112m2 £3,221 15
Wayfarer Close, Locking, BS24 8B 109m2 £2,848 13
Tiger Moth Road, Locking, BS24 8D 82m2 £2,863 13
Nimbus Road, Locking, BS24 8D 86m2 £2,947 13

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Victor Landing, Locking, BS24 8F 84m2 £2,764 14
Gnome Road, Locking, BS24 8F 82m2 £2,986 10
Gypsy Moth Lane, Locking, BS24 8F 74m2 £3,208 9

Victor Landing, Locking, BS24 8F has seen 14 new build sales in the last 4 years (average price £228,846). These new build homes typically have an internal area of 84 m2, with an average price of £2,764 m2. This £sqm average is £-536 below the average for BS24 8. New builds typically command a £ per sqm premium. In the case of Victor Landing the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

Raw data

Our analysis of Locking 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
19, Homefield, Locking, Weston-Super-Mare £286,000
Aug-2023
85 3,364
5, Rapide Way, Locking, Weston-Super-Mare £270,000
Aug-2023
78 3,461
7, Miles Row, Locking, Weston-Super-Mare £247,500
Aug-2023
75 3,300

See the entire list of all sales in Locking (BS24 8) 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.