Feb 07, 2023 by HM

House prices in Great Leighs (CM3 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Great Leighs (CM3 1).

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Price per square metre

Knowing the average house price in Great Leighs 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. 10, Castlefields, Great Leighs, South Woodham Ferrers, sold for £497,500 on Aug-2023. Given the internal area of 158 square metres, the price per sqm is £3,148.

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 74 sales in Great Leighs (CM3 1) 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 Great Leighs (CM3 1). Of the 74 transactions, half were sold for between £3,810 and £5,270 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,270m². 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 'CM3 1' is £4,500. The table below shows how 'CM3 1' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CM3 2 Hatfield Peverel	£3,970m2	£4,510m2	£5,260m2
CM3 5 South Woodham Ferrers	£3,840m2	£4,410m2	£4,980m2
CM3 3 Boreham	£4,200m2	£4,770m2	£5,130m2
CM3 6 Mayland	£3,530m2	£4,140m2	£4,750m2
CM3 4 Danbury	£4,150m2	£4,880m2	£5,490m2
CM3 8 East Hanningfield	£4,090m2	£4,590m2	£5,260m2
CM3 7 South Woodham Ferrers	£4,170m2	£4,760m2	£5,420m2
CM3 1 Great Leighs	£3,810m2	£4,500m2	£5,270m2

Will Great Leighs 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 CM3 1 (Great Leighs). 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 CM3 1 and the blue dots are the individual property sales that inform this trend.

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

Price map for Great Leighs

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 Great Leighs. 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 Great Leighs

Street level data

Street	Avg size	Avg £/m2	Recent sales
Fayrewood Drive, Great Leighs, CM3 1G	86m2	£3,523	24
Shimbrooks, Great Leighs, CM3 1S	79m2	£3,657	13
Main Road, Great Leighs, CM3 1N	143m2	£4,087	11
Main Road, Great Leighs, CM3 1L	129m2	£5,089	10
Evelyn Road, Great Leighs, CM3 1Q	116m2	£4,252	10
Brickbarns, Great Leighs, CM3 1J	136m2	£3,665	9
Ray Mead, Great Leighs, CM3 1A	99m2	£3,709	7
Cherry Garden Road, Great Leighs, CM3 1D	92m2	£4,388	7

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Radcliffe Way, Great Leighs, CM3 1F	110m2	£4,541	27

Radcliffe Way, Great Leighs, CM3 1F has seen 27 new build sales in the last 4 years (average price £496,666). These new build homes typically have an internal area of 110 m2, with an average price of £4,541 m2. This £sqm average is £41 above the average for CM3 1. New builds typically command a £ per sqm premium so this is normal.

Raw data

Our analysis of Great Leighs 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
10, Castlefields, Great Leighs, South Woodham Ferrers	£497,500 Aug-2023	158	3,148
39, Fayrewood Drive, Great Leighs, South Woodham Ferrers	£386,000 Aug-2023	93	4,150
7, Ray Mead, Great Leighs, South Woodham Ferrers	£325,000 Aug-2023	80	4,062

See the entire list of all sales in Great Leighs (CM3 1) here.