House prices in 'PE30 1', Kings Lynn
This article reveals price per square metre data and various charts to help you understand current housing market in 'PE30 1' (Kings Lynn) - statistics were last calculated on 16 October 2024.
Defining 'PE30 1'
This analysis is limited to properties whose postcode starts with "PE30 1", this is also called the postcode sector. There are no official postcode sector names so I've just labelled it PE30 1, Kings Lynn. It is shown in red on the map below.
Want to change geography?
You can click on the map above to change to a neighbouring sector, or you can use the search form below.
Price per square metre
Knowing the average house price in PE30 1 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 July 2024, 6, Blackfriars Road, Kings Lynn, PE30 1NR sold for £100,000. Given the internal area of 110 square metres recorded on the EPC, the price per sqm is £100,000 ÷ 110 sqm = £909.
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 PE30 1 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 'PE30 1' vs 'PE30'
The chart above is called a histogram, it helps you see the distribution of house price per sqm in PE30 1 To make this chart we put all the sales data into a series of £ per sqm 'buckets' (e.g. £1,900 to £2,000, £2,000 to £2,100, £2,100 to £2,200 etc...) we then count the number of sales with within in each bucket and plot the results. The histogram is based on 74 sales that took place in PE30 1, Kings Lynn 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 PE30 1, Kings Lynn. Notably, only 25% of properties that sold recently were valued at more than £2,430 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of PE30 1 homes.
Box plot of £ per sqm for PE30 1
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. Kings Lynn. The chart above shows a boxplot for 'PE30 1' as well as the 'PE30' postcode district.
Property price map for Kings Lynn
Have a look at the interactive price map I created for myself. Use it to explore 'PE30 1' house prices all the way down to individual property plots.
House price map for Kings LynnKings Lynn house price forecasting
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 PE30 1 (Kings Lynn) compared with the wider postcode district of PE30. You can extrapolate from this based on your own views on future interest rates, inflation and other factors.
House price index for PE30 1
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 'PE30 1' property prices over the last 20 years. The index is calculated from the average price paid per sqm for property in PE30 1 and is set to 100 in 2004. I'm comparing the trends for PE30 1,Kings Lynn with the wider postcode district of PE30 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 King's Lynn and West Norfolk 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) – 1In 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 PE30 1
| PE30 1 sector | PE30 district | |||
|---|---|---|---|---|
| Nominal | Real | Nominal | Real | |
| 20 yr per annum | 2.4% | -0.2% | 3.2% | 0.6% |
| 20 yr total | 60.8% | -4.7% | 89.5% | 12.2% |
| 10 yr per annum | 2.7% | -0.0% | 3.8% | 1.0% |
| 10 yr total | 31.1% | -0.4% | 45.3% | 10.3% |
| 5 yr per annum | 0.8% | -3.2% | 2.9% | -1.1% |
| 5 yr total | 4.1% | -14.8% | 15.6% | -5.4% |
| 1 yr per annum | -6.7% | -10.4% | -3.3% | -7.2% |
| 1 yr total | -6.7% | -10.4% | -3.3% | -7.2% |
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, PE30 district have seen a 0.6% annual change when adjusted for inflation. This translates to a total change of 12.2% in real terms.
- Over the past 5 years, PE30 1 sector have seen a -3.2% annual change when adjusted for inflation. This translates to a total change of -14.8% in real terms.
Most recent PE30 1 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 Street, Kings Lynn, PE30 1Q | 76 sqm | £1,872 | 11 |
| Highgate, Kings Lynn, PE30 1P | 73 sqm | £2,214 | 8 |
| Chapel Street, Kings Lynn, PE30 1E | 60 sqm | £2,263 | 7 |
| King Street, Kings Lynn, PE30 1E | 85 sqm | £2,311 | 6 |
| Old School Court, Kings Lynn, PE30 1D | 72 sqm | £2,267 | 5 |
Search for your street here.
Nearby geographies
The table below shows how 'PE30 1' compares to the other postcode sectors in PE30.
| Sector | Lower quartile | Median | Upper quartile | Sales in last 2yr |
|---|---|---|---|---|
| PE34 3 West Lynn | £2,470 sqm | £2,780 sqm | £3,120 sqm | 109 |
| PE30 5 Kings Lynn | £1,820 sqm | £2,160 sqm | £2,530 sqm | 214 |
| PE30 4 Kings Lynn | £2,290 sqm | £2,790 sqm | £3,300 sqm | 230 |
| PE30 3 South Wootton | £2,830 sqm | £3,180 sqm | £3,580 sqm | 309 |
| PE30 2 Kings Lynn | £1,640 sqm | £1,990 sqm | £2,230 sqm | 146 |
| PE30 1 Kings Lynn | £1,860 sqm | £2,010 sqm | £2,430 sqm | 74 |
Raw data
Our analysis of PE30 1 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 |
|---|---|---|---|
| 6, Blackfriars Rd, Kings Lynn | £100,000
Jul-2024
|
110 | 909 |
| 40, Chapel St, Kings Lynn | £265,000
Jun-2024
|
121 | 2,190 |
| 3a, Kings Staithe Square, Kings Lynn | £385,000
Jun-2024
|
156 | 2,467 |
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.