# House prices in CB8 8 (Newmarket)

## Defining 'CB8 8'

This analysis is limited to properties whose postcode starts with "CB8 8", 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 Newmarket.

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 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. 4, Browns Close, Newmarket, sold for £268,000 on Mar-2024. Given the internal area of 55 square metres, the price per sqm is £4,872.

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. £3,800-£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 219 sales in Newmarket (CB8 8) that took place in the last two years.

##### Distribution of £ per sqm for Newmarket
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.

The spread of prices will give you a feel of the typical range to expect in Newmarket (CB8 8). Of the 219 transactions, half were sold for between £3,200 and £4,130 per square metre. The median, or 'middle', price per square metre in 'CB8 8' is £3,660. Notably, only 25% of properties that sold recently were valued at more than £4,130 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 Newmarket

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 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.

House price heatmap for Newmarket

## Comparison with neighbouring postcode sectors

The table below shows how 'CB8 8' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CB8 0 Newmarket £2,800 sqm £3,240 sqm £3,840 sqm
CB8 8 Newmarket £3,200 sqm £3,660 sqm £4,130 sqm
CB8 9 Cheveley £3,310 sqm £3,880 sqm £4,410 sqm
CB8 7 Exning £2,930 sqm £3,420 sqm £3,840 sqm

## 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 chart below for CB8 8 (Newmarket) compared with both the wider area CB8 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 Newmarket,Newmarket
House price trends for Newmarket

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 CB8 8 sales
Recent trends for Newmarket

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 Newmarket 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 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.

## Street level data

Street Avg size Avg £sqm Recent sales
New Cheveley Road, Newmarket, CB8 8B 79 sqm £3,274 23
Meadow Lane, Newmarket, CB8 8F 167 sqm £2,199 19
All Saints Road, Newmarket, CB8 8E 71 sqm £3,498 18
Centre Drive, Newmarket, CB8 8A 119 sqm £3,485 17
Barry Lynham Drive, Newmarket, CB8 8Y 76 sqm £4,108 17
Queen Street, Newmarket, CB8 8E 76 sqm £3,212 15
Stanley Road, Newmarket, CB8 8A 56 sqm £3,939 14
Nat Flatman Street, Newmarket, CB8 8H 67 sqm £3,392 13

## 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.