Feb 07, 2023 by HM

House prices in Broomfield (CM1 7)

This article reveals price per square metre data and various charts to help you understand current housing market in Broomfield (CM1 7).


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. You can click on the map labels to change to a neighbouring sector.

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. 32, Tamar Rise, Broomfield, Chelmsford, sold for £220,000 on Feb-2024. Given the internal area of 56 square metres, the price per sqm is £3,928.

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. £4,700-£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 178 sales in Broomfield (CM1 7) that took place in the last two years.

Distribution of £ per sqm for Broomfield (CM1 7)
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 178 transactions, half were sold for between £4,060 and £5,070 per square metre. The median, or 'middle', price per square metre in 'CM1 7' is £4,660. Notably, only 25% of properties that sold recently were valued at more than £5,070m2. 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

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 Broomfield. 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 Broomfield
House price heatmap for Broomfield

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 2 Chelmsford £3,930m2 £4,450m2 £5,070m2
CM1 6 Springfield £4,050m2 £4,580m2 £5,270m2
CM1 4 Roxwell £4,070m2 £4,660m2 £5,320m2
CM1 7 Broomfield £4,060m2 £4,660m2 £5,070m2
CM1 1 Chelmsford £3,880m2 £4,290m2 £4,840m2
CM1 3 Writtle £3,760m2 £4,440m2 £5,150m2

Will Broomfield 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 7 (Broomfield). 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 7 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Broomfield (CM1 7) over time
House price trends for Broomfield

Hover on any blue dot to see details of specific sales

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

Street level data

Street Avg size Avg £/m2 Recent sales
Main Road, Broomfield, CM1 7B 78m2 £4,459 21
Hill View Road, Broomfield, CM1 7R 95m2 £4,167 18
Main Road, Broomfield, CM1 7A 91m2 £4,240 17
Searle Crescent, Broomfield, CM1 7F 92m2 £3,774 16
Nash Drive, Broomfield, CM1 7B 63m2 £4,894 16
Humber Road, Broomfield, CM1 7P 130m2 £4,525 15
Tamar Rise, Broomfield, CM1 7Q 62m2 £3,693 13
Hillary Close, Broomfield, CM1 7R 84m2 £4,022 12

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Petty Croft, Broomfield, CM1 7F 126m2 £4,133 20

Petty Croft, Broomfield, CM1 7F has seen 20 new build sales in the last 4 years (average price £522,099). These new build homes typically have an internal area of 126 m2, with an average price of £4,133 m2. This £sqm average is £-527 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 m2 £/m2
32, Tamar Rise, Broomfield, Chelmsford £220,000
Feb-2024
56 3,928
5, Cricketers Close, Broomfield, Chelmsford £200,000
Feb-2024
51 3,921
45, Hillary Close, Broomfield, Chelmsford £467,500
Feb-2024
131 3,568

See the entire list of all sales in Broomfield (CM1 7) here.

About

HouseMetric is a hobby, created out of a desire to see data and analysis not present on any free to use website. It is still a work in progress and I'll add more stuff in the near future.