# House prices in CM1 7 (Broomfield)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CM1 7' (Broomfield, Chelmsford) - statistics were last calculated on 31 July 2024.

## Defining 'CM1 7'

This analysis is limited to properties whose postcode starts with "CM1 7", 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 Broomfield.

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 Broomfield 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. 18, Parklands Drive, Broomfield, Chelmsford, sold for £425,000 on Jun-2024. Given the internal area of 83 square metres, the price per sqm is £5,120.

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. £4,700-£5,000, £5,000-£5,300, £5,300-£5,600 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 181 sales in Broomfield (CM1 7) that took place in the last two years.

##### Distribution of £ per sqm for Broomfield, Chelmsford
Distribution of £ per sqm house prices in Broomfield

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 Broomfield (CM1 7). Of the 181 transactions, half were sold for between £4,010 and £5,120 per square metre. The median, or 'middle', price per square metre in 'CM1 7' is £4,640. Notably, only 25% of properties that sold recently were valued at more than £5,120 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 Broomfield, Chelmsford

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 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.

House price heatmap for Broomfield, Chelmsford

## Comparison with neighbouring postcode sectors

The table below shows how 'CM1 7' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CM1 7 Broomfield £4,010 sqm £4,640 sqm £5,120 sqm
CM1 6 Chelmsford £4,040 sqm £4,630 sqm £5,330 sqm
CM1 2 Chelmsford £3,930 sqm £4,450 sqm £5,030 sqm
CM1 1 Chelmsford £3,800 sqm £4,250 sqm £4,860 sqm
CM1 4 Chelmsford £3,910 sqm £4,590 sqm £5,230 sqm
CM1 3 Writtle £3,780 sqm £4,420 sqm £5,110 sqm

## 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 chart below for CM1 7 (Broomfield) compared with both the wider area CM1 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 Broomfield,Chelmsford
House price trends for Broomfield

Download time series data as CSV (paying users only).

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 CM1 7 sales
Recent trends for Broomfield

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 Chelmsford 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 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.

## Street level data

Street Avg size Avg £sqm Recent sales
Main Road, Broomfield, CM1 7B 78 sqm £4,459 21
Main Road, Broomfield, CM1 7A 92 sqm £4,019 18
Nash Drive, Broomfield, CM1 7B 62 sqm £4,835 17
Searle Crescent, Broomfield, CM1 7F 92 sqm £3,774 16
Hill View Road, Broomfield, CM1 7R 95 sqm £4,174 15
Tamar Rise, Broomfield, CM1 7Q 62 sqm £3,637 15
Arbour Lane, Broomfield, CM1 7R 74 sqm £4,853 13
Humber Road, Broomfield, CM1 7P 130 sqm £4,700 13

Search for your street here.

## New build activity

Street Avg size Avg £sqm New build sales
Petty Croft, Broomfield, CM1 7F 126 sqm £4,173 14

Petty Croft, Broomfield, CM1 7F has seen 14 new build sales in the last 4 years (average price £526,178). These new build homes typically have an internal area of 126 sqm, with an average price of £4,173 sqm. This £sqm average is £-467 below the average for CM1 7. New builds typically command a £ per sqm premium. In the case of Petty Croft 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 Broomfield 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
18, Parklands Drive, Broomfield, Chelmsford £425,000
Jun-2024
83 5,120
78, Arbour Lane, Broomfield, Chelmsford £320,000
May-2024
77 4,155
62, Nash Drive, Broomfield, Chelmsford £175,000
May-2024
45 3,888