Feb 07, 2023 by HM

House prices in Newmarket (CB8 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Newmarket (CB8 0).


Price per square metre

Knowing the average house price in Newmarket 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. 149, Manderston Road, Newmarket, sold for £411,000 on Oct-2023. Given the internal area of 79 square metres, the price per sqm is £5,202.

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. £3,350-£3,500, £3,500-£3,650, £3,650-£3,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 219 sales in Newmarket (CB8 0) that took place in the last two years.

Distribution of £ per sqm for Newmarket (CB8 0)
Distribution of £ per sqm house prices in Newmarket

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 Newmarket (CB8 0). Of the 219 transactions, half were sold for between £2,800 and £3,870 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,870m2. 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 'CB8 0' is £3,250. The table below shows how 'CB8 0' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CB8 8 Newmarket £3,170m2 £3,670m2 £4,120m2
CB8 9 Cheveley £3,310m2 £3,810m2 £4,340m2
CB8 7 Exning £2,900m2 £3,340m2 £3,840m2
CB8 0 Newmarket £2,800m2 £3,250m2 £3,870m2

Will Newmarket 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 CB8 0 (Newmarket). 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 CB8 0 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Newmarket (CB8 0) over time
House price trends for Newmarket

Hover on any blue dot to see details of specific sales

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

Price map for Newmarket

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 Newmarket. 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.

Property price heatmap for Newmarket
House price heatmap for Newmarket

Street level data

Street Avg size Avg £/m2 Recent sales
Exning Road, Newmarket, CB8 0A 75m2 £3,046 44
St Philips Road, Newmarket, CB8 0E 86m2 £3,006 16
Lowther Street, Newmarket, CB8 0J 75m2 £2,910 15
Drinkwater Close, Newmarket, CB8 0Q 86m2 £3,678 14
Bill Rickaby Drive, Newmarket, CB8 0H 68m2 £3,594 14
Falmouth Avenue, Newmarket, CB8 0N 126m2 £3,044 13
Croft Road, Newmarket, CB8 0A 68m2 £3,475 12
Freshfields, Newmarket, CB8 0E 82m2 £2,690 10

Search for your street here.

Raw data

Our analysis of Newmarket 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
149, Manderston Rd, Newmarket £411,000
Oct-2023
79 5,202
16 Arlington Court, Church Lane, Newmarket £141,250
Sep-2023
54 2,615
3, Jarvis Way, Newmarket £330,000
Sep-2023
79 4,177

See the entire list of all sales in Newmarket (CB8 0) here.

About

HouseMetric is a hobby, created out of a desire to see data and analysis not present on any free to use website. It is still a work in progress and I'll add more stuff in the near future.