Feb 07, 2023 by HM

House prices in Chelmsford (CM1 2)

This article reveals price per square metre data and various charts to help you understand current housing market in Chelmsford (CM1 2).

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Price per square metre

Knowing the average house price in Chelmsford 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. Flat 2 French Court, Cedar Avenue, Chelmsford, sold for £220,000 on Aug-2023. Given the internal area of 52 square metres, the price per sqm is £4,230.

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. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 322 sales in Chelmsford (CM1 2) 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 Chelmsford (CM1 2). Of the 322 transactions, half were sold for between £3,890 and £5,060 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,060m². 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 'CM1 2' is £4,410. The table below shows how 'CM1 2' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CM1 2 Chelmsford	£3,890m2	£4,410m2	£5,060m2
CM1 6 Springfield	£4,000m2	£4,570m2	£5,240m2
CM1 3 Writtle	£3,780m2	£4,490m2	£5,180m2
CM1 1 Chelmsford	£3,760m2	£4,220m2	£4,730m2
CM1 7 Broomfield	£4,070m2	£4,570m2	£5,060m2
CM1 4 Roxwell	£4,080m2	£4,700m2	£5,270m2

Will Chelmsford 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 CM1 2 (Chelmsford). 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 CM1 2 and the blue dots are the individual property sales that inform this trend.

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

Price map for Chelmsford

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 Chelmsford. 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 Chelmsford

Street level data

Street	Avg size	Avg £/m2	Recent sales
South Primrose Hill, Chelmsford, CM1 2R	74m2	£5,021	31
Beeches Road, Chelmsford, CM1 2R	94m2	£4,922	25
Chignal Road, Chelmsford, CM1 2J	107m2	£4,592	21
Waterhouse Street, Chelmsford, CM1 2T	83m2	£4,495	19
Ravensbourne Drive, Chelmsford, CM1 2S	99m2	£4,120	19
Avon Road, Chelmsford, CM1 2J	82m2	£3,551	17
West Avenue, Chelmsford, CM1 2D	74m2	£4,185	17
Rainsford Road, Chelmsford, CM1 2P	87m2	£4,499	14

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Rainsford Road, Chelmsford, CM1 2X	47m2	£4,917	11

Rainsford Road, Chelmsford, CM1 2X has seen 11 new build sales in the last 4 years (average price £251,467). These new build homes typically have an internal area of 47 m2, with an average price of £4,917 m2. This £sqm average is £507 above the average for CM1 2. New builds typically command a £ per sqm premium so this is normal.

Raw data

Our analysis of Chelmsford 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
Flat 2 French Court, Cedar Avenue, Chelmsford	£220,000 Aug-2023	52	4,230
1 King Edward Court, Cedar Avenue West, Chelmsford	£202,500 Aug-2023	42	4,821
26 Derwent Court, Hobart Close, Chelmsford	£226,000 Aug-2023	57	3,964

See the entire list of all sales in Chelmsford (CM1 2) here.