House prices in CB8 9 (Cheveley)

This article reveals price per square metre data and various charts to help you understand current housing market in Cheveley, Newmarket (CB8 9).


Defining 'CB8 9'

This analysis is limited to properties whose postcode starts with "CB8 9", 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 Cheveley.

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 Cheveley 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. 5 Black Bear Court, High Street, Cheveley, Newmarket, sold for £125,000 on Mar-2024. Given the internal area of 46 square metres, the price per sqm is £2,717.

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 116 sales in Cheveley (CB8 9) that took place in the last two years.

Distribution of £ per sqm for Cheveley, Newmarket
Distribution of £ per sqm house prices in Cheveley

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 Cheveley (CB8 9). Of the 116 transactions, half were sold for between £3,310 and £4,410 per square metre. The median, or 'middle', price per square metre in 'CB8 9' is £3,880. Notably, only 25% of properties that sold recently were valued at more than £4,410 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 Cheveley, 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.

Property price heatmap for Cheveley
House price heatmap for Cheveley, Newmarket

Comparison with neighbouring postcode sectors

The table below shows how 'CB8 9' 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 9 (Cheveley) 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 Cheveley,Newmarket
House price trends for Cheveley

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 9 sales
Recent trends for Cheveley

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
The Street, Cheveley, CB8 9P 171 sqm £3,815 15
High Street, Cheveley, CB8 9D 153 sqm £3,979 13
The Avenue, Cheveley, CB8 9A 156 sqm £3,043 12
Crockfords Road, Cheveley, CB8 9B 109 sqm £3,396 12
Ditton Green, Cheveley, CB8 9S 137 sqm £3,898 11
High Street, Cheveley, CB8 9T 137 sqm £4,010 11
High Street, Cheveley, CB8 9A 84 sqm £2,886 8
Ash Walk, Cheveley, CB8 9Y 92 sqm £2,334 8

Search for your street here.

Raw data

Our analysis of Cheveley 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
5 Black Bear Court, High St, Cheveley, Newmarket £125,000
Mar-2024
46 2,717
4 Black Bear Court, High St, Cheveley, Newmarket £142,500
Feb-2024
45 3,166
16, Stetchworth Rd, Cheveley, Newmarket £565,000
Jan-2024
131 4,312

See the entire list of all sales in Cheveley (CB8 9) here.

About

I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.