Feb 07, 2023 by HM

House prices in Colne (BB8 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Colne (BB8 0).

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Price per square metre

Knowing the average house price in Colne 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. 41, Cleveland Street, Colne, sold for £46,000 on Sep-2023. Given the internal area of 55 square metres, the price per sqm is £836.

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. £1,350-£1,500, £1,500-£1,650, £1,650-£1,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 175 sales in Colne (BB8 0) 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 Colne (BB8 0). Of the 175 transactions, half were sold for between £880 and £1,490 per square metre. Notably, only 25% of properties that sold recently were valued at more than £1,490m². 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 'BB8 0' is £1,170. The table below shows how 'BB8 0' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
BB8 0 Colne	£880m2	£1,170m2	£1,490m2
BB8 7 Foulridge	£1,880m2	£2,340m2	£2,940m2
BB8 9 Colne	£1,130m2	£1,380m2	£1,740m2
BB8 8 Trawden	£1,160m2	£1,820m2	£2,210m2

Will Colne 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 BB8 0 (Colne). 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 BB8 0 and the blue dots are the individual property sales that inform this trend.

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

Price map for Colne

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 Colne. 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 Colne

Street level data

Street	Avg size	Avg £/m2	Recent sales
Skipton Road, Colne, BB8 0N	103m2	£1,356	33
Duke Street, Colne, BB8 0S	89m2	£863	14
Cleveland Street, Colne, BB8 0B	62m2	£860	13
Oak Street, Colne, BB8 0A	78m2	£885	13
Basil Street, Colne, BB8 0E	68m2	£936	13
William Street, Colne, BB8 0H	73m2	£537	11
Clarence Street, Colne, BB8 0P	93m2	£1,472	11
Keighley Road, Colne, BB8 0P	172m2	£1,607	9

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Oak Mill Drive, Colne, BB8 0A	75m2	£2,130	20

Oak Mill Drive, Colne, BB8 0A has seen 20 new build sales in the last 4 years (average price £157,878). These new build homes typically have an internal area of 75 m2, with an average price of £2,130 m2. This £sqm average is £960 above the average for BB8 0. New builds typically command a £ per sqm premium so this is normal.

Raw data

Our analysis of Colne 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
41, Cleveland St, Colne	£46,000 Sep-2023	55	836
26, Cleveland St, Colne	£51,000 Sep-2023	57	894
19, Basil St, Colne	£50,000 Sep-2023	88	568

See the entire list of all sales in Colne (BB8 0) here.