Feb 07, 2023 by HM

House prices in Springfield (CM1 6)

This article reveals price per square metre data and various charts to help you understand current housing market in Springfield (CM1 6).

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Price per square metre

Knowing the average house price in Springfield 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. 25, Rembrandt Grove, Springfield, Chelmsford, sold for £327,000 on Sep-2023. Given the internal area of 52 square metres, the price per sqm is £6,288.

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 360 sales in Springfield (CM1 6) 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 Springfield (CM1 6). Of the 360 transactions, half were sold for between £4,000 and £5,240 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,240m². 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 6' is £4,570. The table below shows how 'CM1 6' 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 Springfield 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 6 (Springfield). 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 6 and the blue dots are the individual property sales that inform this trend.

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

Price map for Springfield

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 Springfield. 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 Springfield

Street level data

Street	Avg size	Avg £/m2	Recent sales
Burnell Gate, Springfield, CM1 6E	80m2	£4,255	22
Crocus Way, Springfield, CM1 6X	52m2	£3,799	22
Gardiner Way, Springfield, CM1 6B	122m2	£4,416	21
Lupin Drive, Springfield, CM1 6F	50m2	£3,603	20
Beardsley Drive, Springfield, CM1 6G	63m2	£5,081	18
Petunia Crescent, Springfield, CM1 6Y	73m2	£4,478	18
Cornflower Drive, Springfield, CM1 6X	55m2	£4,256	17
William Porter Close, Springfield, CM1 6A	151m2	£4,136	15

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Robert Mccarthy Place, Springfield, CM1 6D	83m2	£4,154	23
John Eve Avenue, Springfield, CM1 6D	159m2	£3,707	21
Wilfred Waterman Drive, Springfield, CM1 6A	136m2	£4,180	12
Frederick Hawkes Gardens, Springfield, CM1 6B	229m2	£3,713	9

Robert Mccarthy Place, Springfield, CM1 6D has seen 23 new build sales in the last 4 years (average price £346,652). These new build homes typically have an internal area of 83 m2, with an average price of £4,154 m2. This £sqm average is £-416 below the average for CM1 6. New builds typically command a £ per sqm premium. In the case of Robert Mccarthy Place the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

Raw data

Our analysis of Springfield 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
25, Rembrandt Grove, Springfield, Chelmsford	£327,000 Sep-2023	52	6,288
4, Robert Mccarthy Pl, Springfield, Chelmsford	£350,000 Sep-2023	110	3,181
1, Knapton Close, Springfield, Chelmsford	£410,000 Aug-2023	78	5,256

See the entire list of all sales in Springfield (CM1 6) here.