House prices in CM23 2 (Bishops Stortford)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CM23 2' (Bishops Stortford) - statistics were last calculated on 31 July 2024.

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. There are no official names for postcode sectors so I've just labelled it Bishops Stortford.

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 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. Flat 21 Elliott Court, Legion Way, Bishops Stortford, sold for £120,000 on Jun-2024. Given the internal area of 48 square metres, the price per sqm is £2,500.

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. £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 225 sales in Bishops Stortford (CM23 2) that took place in the last two years.

Distribution of £ per sqm for Bishops Stortford
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 225 transactions, half were sold for between £4,270 and £5,890 per square metre. The median, or 'middle', price per square metre in 'CM23 2' is £5,060. Notably, only 25% of properties that sold recently were valued at more than £5,890 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 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.

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 £4,240 sqm £4,720 sqm £5,070 sqm
CM23 4 Bishops Stortford £4,660 sqm £5,250 sqm £5,890 sqm
CM23 3 King's Cross £4,410 sqm £4,930 sqm £5,560 sqm
CM23 2 Bishops Stortford £4,270 sqm £5,060 sqm £5,890 sqm
CM23 5 Bishops Stortford £4,390 sqm £5,000 sqm £5,410 sqm

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 chart below for CM23 2 (Bishops Stortford) compared with both the wider area CM23 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 Bishops Stortford,Bishops Stortford
House price trends for Bishops Stortford

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 CM23 2 sales
Recent trends for Bishops Stortford

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 Bishops Stortford 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 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.

Street level data

Street Avg size Avg £sqm Recent sales
Rye Street, Bishops Stortford, CM23 2H 73 sqm £4,844 46
Cannons Close, Bishops Stortford, CM23 2B 90 sqm £5,358 34
Windhill, Bishops Stortford, CM23 2N 77 sqm £4,207 26
Collins Cross, Bishops Stortford, CM23 2D 95 sqm £4,382 15
Stansted Road, Bishops Stortford, CM23 2A 111 sqm £5,821 13
Wentworth Drive, Bishops Stortford, CM23 2P 70 sqm £5,265 13
Barrells Down Road, Bishops Stortford, CM23 2S 81 sqm £6,335 12

New build activity

Street Avg size Avg £sqm New build sales
Thorpe Road, Bishops Stortford, CM23 2Y 98 sqm £4,615 37
Reynolds Drive, Bishops Stortford, CM23 2Z 67 sqm £5,290 13

Thorpe Road, Bishops Stortford, CM23 2Y has seen 37 new build sales in the last 4 years (average price £450,300). These new build homes typically have an internal area of 98 sqm, with an average price of £4,615 sqm. This £sqm average is £-445 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.