Which Home Improvements Add Value To Your Home?
Explore which home improvements can not only enhance your living space but also increase your property's value
5, Vere Street, Birmingham, West Midlands, B5 7FS See map
5 Vere Street is a 1,160 square foot terraced house with a valuation of £270,000.
Since the house was last sold in June 2021 for £241,510, its value has risen by £28,490.
Valuation Trends
Sold house prices and home valuation trends over time
Learn about how we value property
Property Summary
House features and location
5 Vere Street is a freehold terraced house, built in 2018. A 2021 survey recorded the property as having 1,160 square feet of floor space.
5, Vere Street, Birmingham, West Midlands B5 7FS
Sold House Prices
Timeline of sold house prices and cost per square foot
Since 5 Vere Street's first recorded sale in 2021, the house's price has risen by £28,490 or 5% per year.
During the same period, the price of an average home on Vere Street increased by £27,000 or 5% per year, and the average UK home increased by 4% per year.
- Current valuation£270,000
Terraced house freehold, £233 per square foot
+ 12% - Sold June 2021£241,510
Terraced house freehold new-build, £208 per square foot
Valuation Comparison
Comparison of local and national house prices
House Prices in Vere Street start at £270,000 for the cheapest property on the street, rising to £305,000 for the most expensive.
5 Vere Street is worth 2% less than the £275,000 average property on Vere Street and 10% less than the £300,000 average home in England.
Average Terraced House Prices in the West Midlands
AREA
VALUE
Difference
5 Vere Street
£270,000
Cost per square foot valuation
Using local prices per square foot as benchmarks for valuation
When valuing this property, one factor we consider is the average cost per square foot (CPSF) for terraced houses in the area. Based on this metric alone, the property's valuation would be £270,000.
Our valuation is at the higher end of the £232 to £233 CPSF you would have to pay for a typical terraced house in Vere Street. Factors such as features and outdoor space affect CPSF, with past sale prices reflecting these differences.
Area
Cost per sq ft
Difference
5 Vere Street
£233
Recently sold nearby
View allEnergy Efficiency
Energy usage and efficiency compared to the average terraced house in England and Wales. Figures from a 2021 survey
PROPERTY
Average terraced
EPC Rating
Energy efficiency
B
D
Energy consumption
kWh per year
8,500
20,000
CO₂ emissions
Tonnes per year
1.5
3.6
Learn about Energy Performance Certificates (EPCs)
Valuation details
Property valuation details and commonly asked questions
In this section
- What condition is the property in?
- How is the property valuation estimated?
- Where are the figures sourced?
- What should I do if the details are incorrect?
What condition is the property in?
At a sale price of £270,000, the property’s cost per square foot indicates a better condition than the neighbouring properties or that it possesses additional features to warrant the higher price.
Making home improvements could increase the cost per square foot within the £232 to £233 per square foot range we typically see for terraced houses in Vere Street, increasing the property's value.
How is the property valuation estimated?
Every month, our Automated Valuation Model (AVM) determines property values.
Our AVM collects data from reputable sources, like HM Land Registry, and uses the data to estimate what each property is worth.
In our tests, we have found that the sale price of a property falls within our AVM's confidence range in most cases. However, there are scenarios where the valuations are not accurate. For example, if significant alterations have been made to a property recently or if a property is unique with few comparables.
For more details on the workings of our AVM, including its strengths, limitations, and how it measures up to traditional valuation methods, please refer to our guide 'How We Value Property'.
We try to make the valuations as accurate as possible, but they are estimates. When buying or selling property, you should speak to a qualified professional.
Where are the figures sourced?
Sold house prices, and data on property types/tenures, are sourced from the HM Land Registry.
There is a time delay in property sales appearing in HM Land Registry, which can be up to three months.
Other property details, such as energy efficiency, are estimates from a 2021 property survey.
What should I do if the details are incorrect?
We generate all our property valuations programmatically. They cannot be manually edited based on new information, such as evidence of redevelopment.
If sold property prices or property types are incorrect, you should verify them with HM Land Registry. You can notify HM Land Registry of any errors.
If any other property details are incorrect or out-of-date, they will update automatically when next surveyed.
You can verify property details related to energy efficiency.
Related guides
First-Time Home Buyer Guide
Navigating the homeownership journey as a beginner - topics explained, useful tips, and helpful resources
How To Make an Offer and Negotiate for a House
Key steps for determining the right initial offer for a house, and how to navigate the negotiation process towards a final price