Feb 07, 2023 by HM

House prices in Witham (CM8 2)

This article reveals price per square metre data and various charts to help you understand current housing market in Witham (CM8 2).

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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. 17, Foster Court, Witham, sold for £118,000 on Oct-2023. Given the internal area of 42 square metres, the price per sqm is £2,809.

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. £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 307 sales in Witham (CM8 2) 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 Witham (CM8 2). Of the 307 transactions, half were sold for between £3,370 and £4,460 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,460m². 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 'CM8 2' is £3,830. The table below shows how 'CM8 2' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CM8 1 Witham	£3,330m2	£3,770m2	£4,330m2
CM8 3 Silver End	£3,730m2	£4,120m2	£4,610m2
CM8 2 Witham	£3,370m2	£3,830m2	£4,460m2

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 scatter plot below for CM8 2 (Witham). 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 CM8 2 and the blue dots are the individual property sales that inform this trend.

Disclaimer: 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. 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 Witham data or any other data I am given.

Price map for Witham

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

House price heatmap for Witham

Street level data

Street	Avg size	Avg £/m2	Recent sales
Church Street, Witham, CM8 2J	77m2	£3,688	20
Foster Court, Witham, CM8 2T	47m2	£2,598	16
Cressing Road, Witham, CM8 2N	91m2	£3,566	16
Braintree Road, Witham, CM8 2D	75m2	£3,859	15
Longfield, Witham, CM8 2S	61m2	£4,433	15
Armond Road, Witham, CM8 2H	72m2	£4,112	15
Templemead, Witham, CM8 2D	47m2	£3,387	14
Mulberry Gardens, Witham, CM8 2P	60m2	£4,029	13

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Collingwood Road, Witham, CM8 2G	43m2	£4,650	20
Shelley Gardens, Witham, CM8 2G	119m2	£3,339	17
Flemming Way, Witham, CM8 2G	106m2	£3,683	11

Collingwood Road, Witham, CM8 2G has seen 20 new build sales in the last 4 years (average price £175,849). These new build homes typically have an internal area of 43 m2, with an average price of £4,650 m2. This £sqm average is £820 above the average for CM8 2. New builds typically command a £ per sqm premium so this is normal.

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.

Address	Paid	m2	£/m2
17, Foster Court, Witham	£118,000 Oct-2023	42	2,809
3 Elm Hall Cottages, Cressing Rd, Witham	£660,000 Sep-2023	168	3,928
33, Foster Court, Witham	£90,000 Sep-2023	43	2,093

See the entire list of all sales in Witham (CM8 2) here.