# House prices in CM2 9 (Chelmsford)

## Defining 'CM2 9'

This analysis is limited to properties whose postcode starts with "CM2 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 Chelmsford.

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 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 18 Roberts Court, Baddow Road, Chelmsford, sold for £140,000 on Mar-2024. Given the internal area of 42 square metres, the price per sqm is £3,333.

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 358 sales in Chelmsford (CM2 9) that took place in the last two years.

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

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 Chelmsford (CM2 9). Of the 358 transactions, half were sold for between £4,210 and £5,260 per square metre. The median, or 'middle', price per square metre in 'CM2 9' is £4,750. Notably, only 25% of properties that sold recently were valued at more than £5,260 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 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 Chelmsford

## Comparison with neighbouring postcode sectors

The table below shows how 'CM2 9' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CM2 8 Chelmsford £3,880 sqm £4,340 sqm £5,000 sqm
CM2 9 Chelmsford £4,210 sqm £4,750 sqm £5,260 sqm
CM2 0 Chelmsford £3,890 sqm £4,550 sqm £5,200 sqm
CM2 6 Chelmsford £4,240 sqm £4,800 sqm £5,390 sqm
CM2 7 Great Baddow £3,930 sqm £4,390 sqm £4,870 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 CM2 9 (Chelmsford) compared with both the wider area CM2 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 Chelmsford,Chelmsford
House price trends for Chelmsford

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 CM2 9 sales
Recent trends for Chelmsford

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
Mary Munnion Quarter, Chelmsford, CM2 9F 70 sqm £3,655 29
Beehive Lane, Chelmsford, CM2 9S 94 sqm £5,019 27
Heath Drive, Chelmsford, CM2 9H 88 sqm £4,525 26
Lucas Avenue, Chelmsford, CM2 9J 85 sqm £4,300 26
Princes Road, Chelmsford, CM2 9G 72 sqm £5,737 25
Grace Bartlett Gardens, Chelmsford, CM2 9F 82 sqm £4,229 25
Harberd Tye, Chelmsford, CM2 9G 60 sqm £4,062 24
Gloucester Avenue, Chelmsford, CM2 9D 89 sqm £4,411 24

## New build activity

Street Avg size Avg £sqm New build sales
Waltham Glen, Chelmsford, CM2 9E 76 sqm £4,018 17

Waltham Glen, Chelmsford, CM2 9E has seen 17 new build sales in the last 4 years (average price £308,347). These new build homes typically have an internal area of 76 sqm, with an average price of £4,018 sqm. This £sqm average is £-732 below the average for CM2 9. New builds typically command a £ per sqm premium. In the case of Waltham Glen 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 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.