House prices in S40 (Chesterfield)

This article shows price per square metre data and various charts to help you understand the housing market in S40 - stats were last calculated on 03 December 2024.

Defining 'S40'

This analysis is limited to properties whose postcode starts with "S40", this is also called the postcode district. There are no official postcode district names so I've just labelled it S40, Chesterfield. It is shown in red on the map below.

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Price per square metre

Knowing the average house price in S40 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

For example in October 2024, 12, Ramsey Avenue, Chesterfield, S40 3EF sold for £223,000. Given the internal area of 109 square metres recorded on the EPC, the price per sqm is £223,000 ÷ 109 sqm = £2,045.

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 ;-). It is a huge pain to code the automatic conversion for square meters to square feet for all the graphs and charts on S40 and elsewhere. All the conditionals turn my tidy code for into spaghetti. I will get around to it at some point, but for now you can just divide everything by 10 in your head, move a decimal place and you'll be close enough. If you want to be more precise 1 sqm = 10.76391 sqft.

Distribution of £ per sqm for houses vs flats in S40

The chart above is called a histogram, it helps you see the distribution of house price per sqm in S40 To make this chart we put all the sales data into a series of £ per sqm 'buckets' (e.g. £2,350 to £2,500, £2,500 to £2,650, £2,650 to £2,800 etc...) we then count the number of sales with within in each bucket and plot the results. The histogram is based on 894 sales that took place in S40, in the last 24 months.

Generate a custom histogram like the one above but based on your own criteria.

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 S40, Chesterfield. Notably, only 25% of properties that sold recently were valued at more than £3,050 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of S40 homes.

Box plot of £ per sqm for S40

Tip: click on the chart to see the values.

The chart above is called a boxplot (or a box-and-whisker plot). Box plots, like histograms, are used to graphically represent the distribution of data, showing the central tendency, spread of the distribution. In the context of £ per square metre property price distributions, box plots represent the variation in property prices within a geographic area e.g. Chesterfield. The chart above shows a boxplot for 'S40' as well as the 'S' postcode area.

  • Median: The horizontal line inside the box represents the median (£ per square meter). This is the midpoint of the data, meaning 50% of the prices are below this value, and 50% are above. The middle price per square metre in 'S40' is £2,460.
  • Interquartile Range (IQR): The box spans from the 25th percentile (Q1) to the 75th percentile (Q3). This is the range where the middle 50% of the data lies, giving a good indication of the typical price spread. Of the 894 transactions in S40, Chesterfield half were sold for between £1,920 and £3,050 per square metre.
  • Whiskers: In our case, the whiskers extend from the 9th percentile (at the lower end) to the 91st percentile (at the upper end), This provides a slightly broader view of the distribution by including the middle 82% of records. The whiskers capture most of the variation but exclude extreme outliers caused by data errors in recording sold house prices or internal area.
  • 'n=' is the number of property transactions the box plot is based on; 894 for S40, Chesterfield.

    • Property price map for Chesterfield

    Have a look at the interactive price map I created for myself. Use it to explore 'S40' house prices all the way down to individual property plots.

    Property price heatmap for Chesterfield
    House price map for Chesterfield

    Will S40 house prices drop in 2025?

    I cannot tell what house prices will do in the future and don't believe anyone who says they can. However we can plot price trends, I have done this in the chart below for S40 (Chesterfield) compared with the wider postcode area 'S'. You can extrapolate from this based on your own views on future interest rates, inflation and other factors.

    House price index for S40

    Tip: click on the legend items to show/hide different lines

    Download house price index as CSV (premium users only).

    The chart above shows changes in 'S40' property prices over the last 20 years. The index is calculated from the average price paid per sqm for property in S40 and is set to 100 in 2004. The chart compares trends for S40, Chesterfield against those of the broader postcode area 'S'. What is more interesting is to look at the difference between flats and houses, even those in the same area follow a very different trend, to get a robust enough sample size to see this we need to zoom out and look at house price trends for the entire Chesterfield local authority.

    The dashed lines show nominal house price changes, the solid lines show the same data adjusted for inflation. Economists call this the 'real' price change. You have to take inflation into account when comparing prices over time. It's calculated using the formula:

    Real Rate of Return = (1 + Nominal Rate) ÷ (1 + Inflation Rate) – 1
    In this formula, the nominal rate is the rate of change before any adjustments, and the inflation rate is taken from the Consumer Price Index. The real rate of return is a more accurate measure of change in value, because £1 today does not have the same buying power as £1 in the past. For example, if a savings account pays an interest rate of 3% per year and the inflation rate is 5% per year, the real rate of return is -2%. This means that the investment's value is shrinking by 2% each year.

    Historic returns for S40
    S area S40 district
    Nominal Real Nominal Real
    20 yr per annum 3.2% 0.6% 2.9% 0.2%
    20 yr total 89.3% 12.1% 75.9% 4.2%
    10 yr per annum 3.9% 1.1% 2.9% 0.1%
    10 yr total 46.3% 11.1% 32.7% 0.7%
    5 yr per annum 4.6% 0.5% 3.0% -1.1%
    5 yr total 25.3% 2.6% 15.9% -5.1%
    1 yr per annum 1.4% -2.7% -2.2% -6.2%
    1 yr total 1.4% -2.7% -2.2% -6.2%

    This table complements the house price index chart above, presenting the data in a more detailed format. It breaks down the information into 20-year, 10-year, 5-year, and 1-year periods, further categorized by property type. For each period, we display both a per annum rate of change and a total rate of change.

    The total rate of change represents the overall change over the entire period. The formula for total return is:

    Total return = (Index at end of period ÷ Index at start of period) - 1

    The per annum rate of change is the annualized rate of change over the period. This is equivalent to the annual bank savings rate you would need to achieve the same total return over the given period. This annualized return is also known as the Compound Annual Growth Rate (CAGR). The formula for CAGR is:

    CAGR = (1 + Total return) ^ (1 ÷ Number of years) - 1

    Some specific examples:

    • Over the past 20 years, S area have seen a 0.6% annual change when adjusted for inflation. This translates to a total change of 12.1% in real terms.
    • Over the past 5 years, S40 district have seen a -1.1% annual change when adjusted for inflation. This translates to a total change of -5.1% in real terms.

    Most recent S40 sales

    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.

    Tip: hover over dots to see details

    Street level data

    Street Avg size Avg £sqm Recent sales
    Archdale Close, , S40 2G 57 sqm £2,186 44
    Derby Road, , S40 2E 73 sqm £1,587 35
    Chatsworth Road, , S40 3J 78 sqm £2,588 30
    Ashgate Road, , S40 4A 119 sqm £2,664 25
    Walton Road, , S40 3B 100 sqm £2,995 24
    Langer Lane, , S40 2J 104 sqm £2,709 23
    Walgrove Road, , S40 2D 78 sqm £2,384 21
    Miriam Avenue, , S40 3N 90 sqm £3,433 19

    Search for your street here.

    Nearby geographies

    The table below shows how 'S40' compares to the other postcode districts nearby 'S40'.

    District Lower quartile Median Upper quartile Sales in last 2yr
    S9 Sheffield £1,420 sqm £1,840 sqm £2,220 sqm 490
    S81 Worksop £1,870 sqm £2,390 sqm £2,780 sqm 1,067
    S80 Worksop £1,210 sqm £1,760 sqm £2,420 sqm 908
    S8 Sheffield £2,240 sqm £2,860 sqm £3,450 sqm 1,090
    S75 Darton £1,860 sqm £2,420 sqm £3,000 sqm 1,027
    S74 Hoyland £1,410 sqm £1,810 sqm £2,300 sqm 403
    S73 Wombwell £1,310 sqm £1,790 sqm £2,350 sqm 711
    S72 Cudworth £1,390 sqm £1,820 sqm £2,410 sqm 692
    S71 Royston £1,480 sqm £1,920 sqm £2,450 sqm 1,101
    S70 Barnsley £1,270 sqm £1,630 sqm £2,130 sqm 1,105

    Raw data

    Our analysis of S40 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 sqm £/sqm
    12, Ramsey Avenue, £223,000
    Oct-2024
    		 109 2,045
    16, Horsley Close, £155,000
    Oct-2024
    		 62 2,500
    7, Medlock Rd, £248,500
    Oct-2024
    		 67 3,708

    See the entire list of all sales in S40 here.

    About

    I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.