Feb 07, 2023 by HM

House prices in Ely (CB7 4)

This article reveals price per square metre data and various charts to help you understand current housing market in Ely (CB7 4).

---

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. 10, White House Road, Ely, Soham, sold for £165,000 on Sep-2023. Given the internal area of 82 square metres, the price per sqm is £2,012.

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. £3,800-£4,000, £4,000-£4,200, £4,200-£4,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 340 sales in Ely (CB7 4) 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 Ely (CB7 4). Of the 340 transactions, half were sold for between £2,990 and £4,390 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,390m². 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 'CB7 4' is £3,670. The table below shows how 'CB7 4' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CB7 5 Soham	£2,880m2	£3,390m2	£3,740m2
CB7 4 Ely	£2,990m2	£3,670m2	£4,390m2

Will Ely 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 CB7 4 (Ely). 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 CB7 4 and the blue dots are the individual property sales that inform this trend.

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

Price map for Ely

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 Ely. 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 Ely

Street level data

Street	Avg size	Avg £/m2	Recent sales
Longchamp Drive, Ely, CB7 4Q	102m2	£3,112	28
Henley Way, Ely, CB7 4Y	89m2	£4,123	22
Cambridge Road, Ely, CB7 4H	121m2	£3,686	21
Kings Avenue, Ely, CB7 4P	79m2	£3,276	19
Lisle Lane, Ely, CB7 4F	68m2	£4,498	16
Kings Avenue, Ely, CB7 4Q	86m2	£2,929	16
High Barns, Ely, CB7 4R	77m2	£2,926	15
Victoria Street, Ely, CB7 4B	65m2	£4,343	14

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Brimstone Drive, Ely, CB7 4Z	112m2	£3,857	61
Red Admiral Street, Ely, CB7 4F	103m2	£3,687	17
Heaton Drive, Ely, CB7 4R	111m2	£2,957	18
Gunning Road, Ely, CB7 4R	108m2	£2,886	16

Brimstone Drive, Ely, CB7 4Z has seen 61 new build sales in the last 4 years (average price £429,908). These new build homes typically have an internal area of 112 m2, with an average price of £3,857 m2. This £sqm average is £187 above the average for CB7 4. New builds typically command a £ per sqm premium so this is normal.

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	m2	£/m2
10, White House Rd, Ely, Soham	£165,000 Sep-2023	82	2,012
11, Springhead Lane, Ely, Soham	£140,000 Sep-2023	43	3,255
75, Nigel Rd, Ely, Soham	£375,000 Sep-2023	130	2,884

See the entire list of all sales in Ely (CB7 4) here.