Feb 07, 2023 by HM

# House prices in Ongar (CM5 0)

## Defining 'CM5 0'

This analysis is limited to properties whose postcode starts with "CM5 0", 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 Ongar 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. 150, Queensway, Ongar, sold for £430,000 on Feb-2024. Given the internal area of 74 square metres, the price per sqm is £5,810.

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. £5,250-£5,500, £5,500-£5,750, £5,750-£6,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 83 sales in Ongar (CM5 0) that took place in the last two years.

##### Distribution of £ per sqm for Ongar (CM5 0)
Distribution of £ per sqm house prices in Ongar

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 Ongar (CM5 0). Of the 83 transactions, half were sold for between £4,480 and £5,640 per square metre. The median, or 'middle', price per square metre in 'CM5 0' is £5,070. Notably, only 25% of properties that sold recently were valued at more than £5,640m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Ongar

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 Ongar. 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 Ongar

## Comparison with neighbouring postcode sectors

The table below shows how 'CM5 0' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CM5 0 Ongar £4,480m2 £5,070m2 £5,640m2
CM5 9 Ongar £4,350m2 £5,060m2 £5,750m2

## Will Ongar 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 CM5 0 (Ongar). 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 CM5 0 and the blue dots are the individual property sales that inform this trend.

##### Price per square metre in Ongar (CM5 0) over time
House price trends for Ongar

Hover on any blue dot to see details of specific sales

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

## Street level data

Street Avg size Avg £/m2 Recent sales
Queensway, Ongar, CM5 0B 83m2 £4,596 19
Moreton Road, Ongar, CM5 0A 93m2 £4,456 17
The Gables, Ongar, CM5 0G 97m2 £5,391 14
Walter Mead Close, Ongar, CM5 0B 74m2 £4,497 13
Great Stony Park, Ongar, CM5 0T 115m2 £5,163 12
Cripsey Avenue, Ongar, CM5 0A 87m2 £4,197 11
Acres Avenue, Ongar, CM5 0B 90m2 £4,270 8
Springfield Close, Ongar, CM5 0B 109m2 £5,111 7

## New build activity

Street Avg size Avg £/m2 New build sales
Elstar Road, Ongar, CM5 0F 111m2 £5,153 16

Elstar Road, Ongar, CM5 0F has seen 16 new build sales in the last 4 years (average price £597,346). These new build homes typically have an internal area of 111 m2, with an average price of £5,153 m2. This £sqm average is £83 above the average for CM5 0. New builds typically command a £ per sqm premium so this is normal.

## Raw data

Our analysis of Ongar 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.