Feb 07, 2023 by HM

House prices in Bishops Stortford (CM23 2)

This article reveals price per square metre data and various charts to help you understand current housing market in Bishops Stortford (CM23 2).


Defining 'CM23 2'

This analysis is limited to properties whose postcode starts with "CM23 2", 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 Bishops Stortford 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. 20, Lindsey Road, Bishops Stortford, sold for £587,500 on Feb-2024. Given the internal area of 89 square metres, the price per sqm is £6,601.

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. £5,150-£5,500, £5,500-£5,850, £5,850-£6,200 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 252 sales in Bishops Stortford (CM23 2) that took place in the last two years.

Distribution of £ per sqm for Bishops Stortford (CM23 2)
Distribution of £ per sqm house prices in Bishops Stortford

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 Bishops Stortford (CM23 2). Of the 252 transactions, half were sold for between £4,280 and £5,940 per square metre. The median, or 'middle', price per square metre in 'CM23 2' is £5,040. Notably, only 25% of properties that sold recently were valued at more than £5,940m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Bishops Stortford

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 Bishops Stortford. 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 Bishops Stortford
House price heatmap for Bishops Stortford

Comparison with neighbouring postcode sectors

The table below shows how 'CM23 2' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CM23 1 Manuden £4,380m2 £4,870m2 £5,120m2
CM23 4 Bishops Stortford £4,740m2 £5,350m2 £5,920m2
CM23 3 Bishops Stortford £4,500m2 £5,000m2 £5,720m2
CM23 5 Bishops Stortford £4,380m2 £4,960m2 £5,410m2
CM23 2 Bishops Stortford £4,280m2 £5,040m2 £5,940m2

Will Bishops Stortford 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 CM23 2 (Bishops Stortford). 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 CM23 2 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Bishops Stortford (CM23 2) over time
House price trends for Bishops Stortford

Hover on any blue dot to see details of specific sales

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

Street level data

Street Avg size Avg £/m2 Recent sales
Rye Street, Bishops Stortford, CM23 2H 72m2 £4,807 46
Hadham Road, Bishops Stortford, CM23 2Q 95m2 £5,108 38
Cannons Close, Bishops Stortford, CM23 2B 90m2 £5,303 36
Windhill, Bishops Stortford, CM23 2N 76m2 £4,243 24
Collins Cross, Bishops Stortford, CM23 2D 95m2 £4,383 15
Wentworth Drive, Bishops Stortford, CM23 2P 70m2 £5,184 14
Barrells Down Road, Bishops Stortford, CM23 2S 80m2 £6,170 13
Stansted Road, Bishops Stortford, CM23 2A 110m2 £5,863 12

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Thorpe Road, Bishops Stortford, CM23 2Y 98m2 £4,653 40
Reynolds Drive, Bishops Stortford, CM23 2Z 68m2 £5,190 13
Ashwell Drive, Bishops Stortford, CM23 2X 98m2 £4,162 9
Davey Road, Bishops Stortford, CM23 2X 95m2 £4,082 9

Thorpe Road, Bishops Stortford, CM23 2Y has seen 40 new build sales in the last 4 years (average price £446,169). These new build homes typically have an internal area of 98 m2, with an average price of £4,653 m2. This £sqm average is £-387 below the average for CM23 2. New builds typically command a £ per sqm premium. In the case of Thorpe Road 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 Bishops Stortford 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
20, Lindsey Rd, Bishops Stortford £587,500
Feb-2024
89 6,601
55 Cedar Court, Rye St, Bishops Stortford £218,500
Feb-2024
58 3,767
Wickham Cottage, Dane O'coys Rd, Bishops Stortford £750,000
Feb-2024
200 3,750

See the entire list of all sales in Bishops Stortford (CM23 2) 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.