Feb 07, 2023 by HM

House prices in Nailsea (BS48 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Nailsea (BS48 1).

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Price per square metre

Knowing the average house price in Nailsea 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. 10, Southfield Road, Nailsea, sold for £253,000 on Sep-2023. Given the internal area of 50 square metres, the price per sqm is £5,060.

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. £4,700-£5,000, £5,000-£5,300, £5,300-£5,600 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 95 sales in Nailsea (BS48 1) 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 Nailsea (BS48 1). Of the 95 transactions, half were sold for between £3,810 and £5,020 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,020m². 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 'BS48 1' is £4,420. The table below shows how 'BS48 1' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BS48 2 Nailsea	£3,690m2	£4,080m2	£4,780m2
BS48 3 Backwell	£3,980m2	£4,430m2	£5,130m2
BS48 4 Nailsea	£3,710m2	£4,270m2	£5,000m2
BS48 1 Nailsea	£3,810m2	£4,420m2	£5,020m2

Will Nailsea 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 BS48 1 (Nailsea). 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 BS48 1 and the blue dots are the individual property sales that inform this trend.

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

Price map for Nailsea

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 Nailsea. 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 Nailsea

Street level data

Street	Avg size	Avg £/m2	Recent sales
Mayflower Gardens, Nailsea, BS48 1Q	62m2	£4,583	10
Greenfield Crescent, Nailsea, BS48 1H	90m2	£3,157	10
Tower House Lane, Nailsea, BS48 1J	230m2	£4,978	8
Woodland Road, Nailsea, BS48 1H	98m2	£3,291	8
High Street, Nailsea, BS48 1A	102m2	£3,457	8
Spindleberry Grove, Nailsea, BS48 1Q	119m2	£4,471	7
Nailsea Park, Nailsea, BS48 1B	157m2	£3,901	6
Heathfield Way, Nailsea, BS48 1E	67m2	£3,691	6

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
High Street, Nailsea, BS48 1D	45m2	£4,274	18

High Street, Nailsea, BS48 1D has seen 18 new build sales in the last 4 years (average price £185,282). These new build homes typically have an internal area of 45 m2, with an average price of £4,274 m2. This £sqm average is £-146 below the average for BS48 1. New builds typically command a £ per sqm premium. In the case of High Street 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 Nailsea 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
10, Southfield Rd, Nailsea	£253,000 Sep-2023	50	5,060
7, Head Croft, Nailsea	£650,000 Aug-2023	136	4,779
15, Mayflower Gardens, Nailsea	£270,000 Jul-2023	56	4,821

See the entire list of all sales in Nailsea (BS48 1) here.