Feb 07, 2023 by HM

House prices in Workington (CA14 3)

This article reveals price per square metre data and various charts to help you understand current housing market in Workington (CA14 3).

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Price per square metre

Knowing the average house price in Workington 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. 29, Berwick Street, Workington, sold for £130,000 on Oct-2023. Given the internal area of 115 square metres, the price per sqm is £1,130.

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 191 sales in Workington (CA14 3) 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 Workington (CA14 3). Of the 191 transactions, half were sold for between £950 and £1,750 per square metre. Notably, only 25% of properties that sold recently were valued at more than £1,750m². 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 'CA14 3' is £1,240. The table below shows how 'CA14 3' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CA14 5 Harrington	£1,040m2	£1,260m2	£1,690m2
CA14 1 Seaton	£1,290m2	£1,850m2	£2,320m2
CA14 4 High Harrington	£1,260m2	£1,770m2	£2,370m2
CA14 3 Workington	£950m2	£1,240m2	£1,750m2
CA14 2 Workington	£790m2	£980m2	£1,210m2

Will Workington 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 CA14 3 (Workington). 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 CA14 3 and the blue dots are the individual property sales that inform this trend.

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

Price map for Workington

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 Workington. 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 Workington

Street level data

Street	Avg size	Avg £/m2	Recent sales
Moss Bay Road, Workington, CA14 3T	84m2	£768	30
Frostoms Road, Workington, CA14 3U	89m2	£1,166	18
Thirlmere Avenue, Workington, CA14 3H	80m2	£1,722	15
Peter Street, Workington, CA14 3D	89m2	£1,109	15
Newlands Lane South, Workington, CA14 3N	84m2	£1,632	14
Grasmere Avenue, Workington, CA14 3L	77m2	£1,349	14
Wastwater Avenue, Workington, CA14 3Q	79m2	£1,163	11
John Street, Workington, CA14 3D	85m2	£854	11

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Grayling Way, Workington, CA14 3F	82m2	£1,867	13

Grayling Way, Workington, CA14 3F has seen 13 new build sales in the last 4 years (average price £140,567). These new build homes typically have an internal area of 82 m2, with an average price of £1,867 m2. This £sqm average is £627 above the average for CA14 3. New builds typically command a £ per sqm premium so this is normal.

Raw data

Our analysis of Workington 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
29, Berwick St, Workington	£130,000 Oct-2023	115	1,130
2, Dalston Rd, Workington	£207,500 Oct-2023	84	2,470
46, Rowe Terrace, Workington	£125,000 Sep-2023	84	1,488

See the entire list of all sales in Workington (CA14 3) here.