Feb 07, 2023 by HM

House prices in Colne (BB8 9)

This article reveals price per square metre data and various charts to help you understand current housing market in Colne (BB8 9).

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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. 74, Harrison Drive, Colne, sold for £112,500 on Sep-2023. Given the internal area of 74 square metres, the price per sqm is £1,520.

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. £1,900-£2,000, £2,000-£2,100, £2,100-£2,200 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 203 sales in Colne (BB8 9) 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 9). Of the 203 transactions, half were sold for between £1,130 and £1,740 per square metre. Notably, only 25% of properties that sold recently were valued at more than £1,740m². 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 9' is £1,380. The table below shows how 'BB8 9' 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 9 (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 9 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
Langroyd Road, Colne, BB8 9E	81m2	£1,326	22
Alkincoats Road, Colne, BB8 9Q	108m2	£1,442	21
Barrowford Road, Colne, BB8 9Q	124m2	£2,011	20
Glen Street, Colne, BB8 9E	68m2	£1,052	19
Birtwistle Avenue, Colne, BB8 9R	81m2	£1,589	15
Parker Street, Colne, BB8 9Q	84m2	£1,350	14
Harrison Drive, Colne, BB8 9S	74m2	£1,614	11
Grenfell Gardens, Colne, BB8 9P	145m2	£2,541	10

Search for your street here.

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
74, Harrison Drive, Colne	£112,500 Sep-2023	74	1,520
11, Keats Close, Colne	£190,000 Aug-2023	113	1,681
7, Hanover St, Colne	£105,000 Aug-2023	61	1,721

See the entire list of all sales in Colne (BB8 9) here.