Feb 07, 2023 by HM

# House prices in Cambridge (CB1 8)

## Price per square metre

Knowing the average house price in Cambridge 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. 15, Kelvin Close, Cambridge, sold for £605,000 on Sep-2023. Given the internal area of 77 square metres, the price per sqm is £7,857.

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. £5,250-£5,500, £5,500-£5,750, £5,750-£6,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 62 sales in Cambridge (CB1 8) that took place in the last two years.

##### Distribution of £ per sqm for Cambridge (CB1 8)
Distribution of £ per sqm house prices in Cambridge

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 Cambridge (CB1 8). Of the 62 transactions, half were sold for between £5,140 and £6,580 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,580m2. 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 'CB1 8' is £5,950. The table below shows how 'CB1 8' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CB1 1 Cambridge £6,000m2 £6,980m2 £7,870m2
CB1 9 Teversham £4,820m2 £5,410m2 £6,070m2
CB1 3 Cherry Hinton £5,160m2 £5,870m2 £6,800m2
CB1 8 Cambridge £5,140m2 £5,950m2 £6,580m2
CB1 7 Cambridge £5,240m2 £6,440m2 £7,560m2
CB1 2 Cambridge £6,010m2 £6,910m2 £7,550m2

## Will Cambridge 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 CB1 8 (Cambridge). 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 CB1 8 and the blue dots are the individual property sales that inform this trend.

##### Price per square metre in Cambridge (CB1 8) over time
House price trends for Cambridge

Hover on any blue dot to see details of specific sales

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

## Price map for Cambridge

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 Cambridge. 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 Cambridge

## Street level data

Street Avg size Avg £/m2 Recent sales
Greystoke Road, Cambridge, CB1 8D 107m2 £4,847 11
Wulfstan Way, Cambridge, CB1 8Q 87m2 £5,487 10
Queen Ediths Way, Cambridge, CB1 8P 118m2 £6,146 9
Kelvin Close, Cambridge, CB1 8D 97m2 £6,452 8
Queen Ediths Way, Cambridge, CB1 8N 121m2 £5,316 7
Glenmere Close, Cambridge, CB1 8E 60m2 £4,822 7
Netherhall Way, Cambridge, CB1 8N 107m2 £6,392 6
Ventress Farm Court, Cambridge, CB1 8H 84m2 £3,375 6

## Raw data

Our analysis of Cambridge 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.

15, Kelvin Close, Cambridge £605,000
Sep-2023
77 7,857
29, Spalding Way, Cambridge £730,000
Sep-2023
106 6,886
21, Limetree Close, Cambridge £630,000
Aug-2023
117 5,384