Feb 07, 2023 by HM

House prices in Ongar (CM5 0)

This article reveals price per square metre data and various charts to help you understand current housing market in Ongar (CM5 0).

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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. 144, Queensway, Ongar, sold for £395,000 on Jul-2023. Given the internal area of 101 square metres, the price per sqm is £3,910.

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. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 92 sales in Ongar (CM5 0) 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 Ongar (CM5 0). Of the 92 transactions, half were sold for between £4,320 and £5,540 per square metre. Notably, only 25% of properties that sold recently were valued at more than £5,540m². 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 'CM5 0' is £4,890. The table below shows how 'CM5 0' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CM5 0 Ongar	£4,320m2	£4,890m2	£5,540m2
CM5 9 Ongar	£4,360m2	£5,090m2	£5,680m2

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.

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.

Price map for Ongar

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 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. I will explain more about the methodology and create a key next week.

House price heatmap for Ongar

Street level data

Street	Avg size	Avg £/m2	Recent sales
Moreton Road, Ongar, CM5 0A	92m2	£4,480	17
The Gables, Ongar, CM5 0G	97m2	£5,361	16
Queensway, Ongar, CM5 0B	83m2	£4,509	15
Walter Mead Close, Ongar, CM5 0B	74m2	£4,497	13
Cripsey Avenue, Ongar, CM5 0A	87m2	£4,134	12
Great Stony Park, Ongar, CM5 0T	114m2	£5,043	10
Acres Avenue, Ongar, CM5 0B	90m2	£4,270	8
Springfield Close, Ongar, CM5 0B	109m2	£5,111	7

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Elstar Road, Ongar, CM5 0F	111m2	£5,125	24

Elstar Road, Ongar, CM5 0F has seen 24 new build sales in the last 4 years (average price £580,854). These new build homes typically have an internal area of 111 m2, with an average price of £5,125 m2. This £sqm average is £235 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.

Address	Paid	m2	£/m2
144, Queensway, Ongar	£395,000 Jul-2023	101	3,910
Topeka, The Village, Ongar	£1,050,000 Jul-2023	261	4,022
115, Queensway, Ongar	£370,000 Jul-2023	71	5,211

See the entire list of all sales in Ongar (CM5 0) here.