# House prices in CM8 1 (Witham)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CM8 1' (Witham) - statistics were last calculated on 31 July 2024.

## Defining 'CM8 1'

This analysis is limited to properties whose postcode starts with "CM8 1", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Witham.

You can click on the map labels to change to a neighbouring sector, or you can enter a different postcode sector (e.g. CM23 4) below.

FYI, a postcode sector is the full postcode without the last two letters.

## Price per square metre

Knowing the average house price in Witham 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. 210 Newland Court, Newland Street, Witham, sold for £87,000 on Jun-2024. Given the internal area of 40 square metres, the price per sqm is £2,175.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters 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. £3,800-£4,000, £4,000-£4,200, £4,200-£4,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 362 sales in Witham (CM8 1) that took place in the last two years.

##### Distribution of £ per sqm for Witham
Distribution of £ per sqm house prices in Witham

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 Witham (CM8 1). Of the 362 transactions, half were sold for between £3,330 and £4,420 per square metre. The median, or 'middle', price per square metre in 'CM8 1' is £3,760. Notably, only 25% of properties that sold recently were valued at more than £4,420 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Witham

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 Witham. 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 Witham

## Comparison with neighbouring postcode sectors

The table below shows how 'CM8 1' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CM8 1 Witham £3,330 sqm £3,760 sqm £4,420 sqm
CM8 2 Witham £3,290 sqm £3,780 sqm £4,460 sqm
CM8 3 Silver End £3,730 sqm £4,120 sqm £4,680 sqm

## Will Witham 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 chart below for CM8 1 (Witham) compared with both the wider area CM8 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

##### Historic price per square metre in Witham,Witham
House price trends for Witham

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

##### Most recent CM8 1 sales
Recent trends for Witham

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Witham to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about Witham 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.

## Street level data

Street Avg size Avg £sqm Recent sales
Newland Street, Witham, CM8 1A 51 sqm £2,212 39
Epping Way, Witham, CM8 1N 67 sqm £4,384 34
Constance Close, Witham, CM8 1X 52 sqm £4,267 27
Mortimer Way, Witham, CM8 1U 66 sqm £3,605 26
Halcyon Close, Witham, CM8 1G 79 sqm £3,344 24
Ashby Road, Witham, CM8 1Q 77 sqm £4,329 21
Holst Avenue, Witham, CM8 1S 83 sqm £3,352 20
Humber Road, Witham, CM8 1T 79 sqm £3,382 20

## Raw data

Our analysis of Witham 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.