Feb 07, 2023 by HM

House prices in Bishops Stortford (CM23 4)

This article reveals price per square metre data and various charts to help you understand current housing market in Bishops Stortford (CM23 4).

---

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. 21, Dalton Gardens, Bishops Stortford, sold for £400,000 on Sep-2023. Given the internal area of 67 square metres, the price per sqm is £5,970.

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. £4,800-£5,000, £5,000-£5,200, £5,200-£5,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 255 sales in Bishops Stortford (CM23 4) that took place in the last two years.

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.

That said, the spread of prices will give you a feel of the typical range to expect in Bishops Stortford (CM23 4). Of the 255 transactions, half were sold for between £4,710 and £5,920 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,920m². For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

For the average, we calculate the 'median' or middle price. The median price per square metre in 'CM23 4' is £5,350. The table below shows how 'CM23 4' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CM23 2 Bishops Stortford	£4,430m2	£5,180m2	£6,000m2
CM23 3 Bishops Stortford	£4,400m2	£5,000m2	£5,730m2
CM23 5 Bishops Stortford	£4,340m2	£4,920m2	£5,490m2
CM23 1 Manuden	£4,350m2	£4,960m2	£5,150m2
CM23 4 Bishops Stortford	£4,710m2	£5,350m2	£5,920m2

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 4 (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 4 and the blue dots are the individual property sales that inform this trend.

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.

Price map for Bishops Stortford

I've just finished coding the map I link to below. 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. I will explain more about the methodology and create a key next week.

House price heatmap for Bishops Stortford

Street level data

Street	Avg size	Avg £/m2	Recent sales
Ashdale, Bishops Stortford, CM23 4E	59m2	£5,087	22
Honeybourne, Bishops Stortford, CM23 4E	71m2	£5,305	21
Ellenborough Close, Bishops Stortford, CM23 4H	62m2	£5,146	20
Appleton Fields, Bishops Stortford, CM23 4D	64m2	£5,011	18
Larksway, Bishops Stortford, CM23 4D	118m2	£5,181	17
Larchwood, Bishops Stortford, CM23 4J	67m2	£5,430	16
Marguerite Way, Bishops Stortford, CM23 4N	103m2	£4,832	15
The Meadows, Bishops Stortford, CM23 4H	69m2	£5,840	14

Search for your street here.

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
21, Dalton Gardens, Bishops Stortford	£400,000 Sep-2023	67	5,970
6, Rushleigh Green, Bishops Stortford	£195,000 Jul-2023	43	4,534
14, Calverley Close, Bishops Stortford	£360,000 Jul-2023	86	4,186

See the entire list of all sales in Bishops Stortford (CM23 4) here.