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).


Defining 'CM3 1'

This analysis is limited to properties whose postcode starts with "CM3 1", 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 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. Willow Cottage, Broads Green, Great Leighs, South Woodham Ferrers, sold for £820,000 on Dec-2023. Given the internal area of 196 square metres, the price per sqm is £4,183.

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 71 sales in Great Leighs (CM3 1) that took place in the last two years.

Distribution of £ per sqm for Great Leighs (CM3 1)
Distribution of £ per sqm house prices in Great Leighs

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 Great Leighs (CM3 1). Of the 71 transactions, half were sold for between £3,840 and £5,410 per square metre. The median, or 'middle', price per square metre in 'CM3 1' is £4,500. Notably, only 25% of properties that sold recently were valued at more than £5,410m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Great Leighs

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 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.

Property price heatmap for Great Leighs
House price heatmap for Great Leighs

Comparison with neighbouring postcode sectors

The table below shows how 'CM3 1' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CM3 2 Hatfield Peverel £4,170m2 £4,510m2 £5,330m2
CM3 4 Danbury £4,150m2 £4,830m2 £5,490m2
CM3 7 South Woodham Ferrers £4,140m2 £4,840m2 £5,450m2
CM3 8 East Hanningfield £3,680m2 £4,590m2 £5,280m2
CM3 5 South Woodham Ferrers £3,840m2 £4,440m2 £4,980m2
CM3 3 Boreham £4,150m2 £4,730m2 £5,150m2
CM3 6 Mayland £3,570m2 £4,170m2 £4,730m2
CM3 1 Great Leighs £3,840m2 £4,500m2 £5,410m2

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.

Price per square metre in Great Leighs (CM3 1) over time
House price trends for Great Leighs

Hover on any blue dot to see details of specific sales

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.

Street level data

Street Avg size Avg £/m2 Recent sales
Fayrewood Drive, Great Leighs, CM3 1G 86m2 £3,493 22
Shimbrooks, Great Leighs, CM3 1S 79m2 £3,722 13
Main Road, Great Leighs, CM3 1N 143m2 £4,087 11
Main Road, Great Leighs, CM3 1L 129m2 £5,089 10
Brickbarns, Great Leighs, CM3 1J 136m2 £3,740 8
Evelyn Road, Great Leighs, CM3 1Q 115m2 £4,583 8
Ray Mead, Great Leighs, CM3 1A 99m2 £3,709 7
Glovers, Great Leighs, CM3 1P 185m2 £3,632 6

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Radcliffe Way, Great Leighs, CM3 1F 111m2 £4,521 22

Radcliffe Way, Great Leighs, CM3 1F has seen 22 new build sales in the last 4 years (average price £495,740). These new build homes typically have an internal area of 111 m2, with an average price of £4,521 m2. This £sqm average is £21 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
Willow Cottage, Broads Green, Great Leighs, South Woodham Ferrers £820,000
Dec-2023
196 4,183
Shootershatch, , Great Leighs, South Woodham Ferrers £830,000
Nov-2023
97 8,556
23, Evelyn Rd, Great Leighs, South Woodham Ferrers £451,000
Nov-2023
97 4,649

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