# House prices in CB7 4 (Ely)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CB7 4' (Ely, Soham) - statistics were last calculated on 31 July 2024.

## Defining 'CB7 4'

This analysis is limited to properties whose postcode starts with "CB7 4", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Ely.

You can click on the map labels to change to a neighbouring sector, or you can enter a different postcode sector (e.g. CM23 4) below.

FYI, a postcode sector is the full postcode without the last two letters.

## Price per square metre

Knowing the average house price in Ely 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. 16, Cambridge Road, Ely, Soham, sold for £530,000 on Jun-2024. Given the internal area of 124 square metres, the price per sqm is £4,274.

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 ;-) They may want to convert square meters 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. £3,250-£3,500, £3,500-£3,750, £3,750-£4,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 284 sales in Ely (CB7 4) that took place in the last two years.

##### Distribution of £ per sqm for Ely, Soham
Distribution of £ per sqm house prices in Ely

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 Ely (CB7 4). Of the 284 transactions, half were sold for between £3,160 and £4,510 per square metre. The median, or 'middle', price per square metre in 'CB7 4' is £3,900. Notably, only 25% of properties that sold recently were valued at more than £4,510 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Ely, Soham

Do have a look at the interactive price map I created. I find it useful and I am sure it will help you in exploring Soham. 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.

House price heatmap for Ely, Soham

## Comparison with neighbouring postcode sectors

The table below shows how 'CB7 4' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CB7 4 Ely £3,160 sqm £3,900 sqm £4,510 sqm
CB7 5 Soham £2,820 sqm £3,390 sqm £3,810 sqm

## Will Soham 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 chart below for CB7 4 (Ely) compared with both the wider area CB7 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

##### Historic price per square metre in Ely,Soham
House price trends for Ely

Download time series data as CSV (paying users only).

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.

##### Most recent CB7 4 sales
Recent trends for Ely

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Soham to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about Soham 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.

## Street level data

Street Avg size Avg £sqm Recent sales
Longchamp Drive, Ely, CB7 4Q 102 sqm £3,118 25
Cambridge Road, Ely, CB7 4H 122 sqm £3,970 25
Henley Way, Ely, CB7 4Y 88 sqm £4,168 21
Lisle Lane, Ely, CB7 4F 68 sqm £4,506 18
Merivale Way, Ely, CB7 4G 85 sqm £3,235 17
Kings Avenue, Ely, CB7 4P 79 sqm £3,288 16
Morton Close, Ely, CB7 4F 59 sqm £4,200 16
High Barns, Ely, CB7 4R 78 sqm £2,863 15

Search for your street here.

## New build activity

Street Avg size Avg £sqm New build sales
Brimstone Drive, Ely, CB7 4Z 112 sqm £3,838 59
Red Admiral Street, Ely, CB7 4F 101 sqm £3,872 27
Gunning Road, Ely, CB7 4R 108 sqm £2,857 19
Heaton Drive, Ely, CB7 4R 111 sqm £2,917 16

Brimstone Drive, Ely, CB7 4Z has seen 59 new build sales in the last 4 years (average price £431,122). These new build homes typically have an internal area of 112 sqm, with an average price of £3,838 sqm. This £sqm average is £-62 below the average for CB7 4. New builds typically command a £ per sqm premium. In the case of Brimstone Drive the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

## Raw data

Our analysis of Ely 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
16, Cambridge Rd, Ely, Soham £530,000
Jun-2024
124 4,274
1c, Ship Lane, Ely, Soham £325,000
Jun-2024
73 4,452
14, Nutholt Lane, Ely, Soham £300,000
May-2024
79 3,797