Feb 07, 2023 by HM

House prices in Colchester (CO1 1)

This article reveals price per square metre data and various charts to help you understand current housing market in Colchester (CO1 1).


Defining 'CO1 1'

This analysis is limited to properties whose postcode starts with "CO1 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 Colchester 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. 33, Belle Vue Road, Colchester, sold for £190,000 on Feb-2024. Given the internal area of 111 square metres, the price per sqm is £1,711.

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. £3,250-£3,500, £3,500-£3,750, £3,750-£4,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 162 sales in Colchester (CO1 1) that took place in the last two years.

Distribution of £ per sqm for Colchester (CO1 1)
Distribution of £ per sqm house prices in Colchester

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 Colchester (CO1 1). Of the 162 transactions, half were sold for between £2,910 and £3,870 per square metre. The median, or 'middle', price per square metre in 'CO1 1' is £3,360. Notably, only 25% of properties that sold recently were valued at more than £3,870m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Colchester

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 Colchester. 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 Colchester
House price heatmap for Colchester

Comparison with neighbouring postcode sectors

The table below shows how 'CO1 1' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO1 1 Colchester £2,910m2 £3,360m2 £3,870m2
CO1 2 Colchester £2,920m2 £3,360m2 £3,730m2

Will Colchester 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 CO1 1 (Colchester). 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 CO1 1 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Colchester (CO1 1) over time
House price trends for Colchester

Hover on any blue dot to see details of specific sales

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

Street level data

Street Avg size Avg £/m2 Recent sales
Clarendon Way, Colchester, CO1 1A 63m2 £2,770 35
Claremont Heights, Colchester, CO1 1Z 47m2 £2,903 23
Roman Road, Colchester, CO1 1U 91m2 £3,511 20
Victoria Chase, Colchester, CO1 1W 52m2 £3,227 18
Albert Street, Colchester, CO1 1R 59m2 £3,458 16
St Peters Street, Colchester, CO1 1B 65m2 £2,332 15
Castle Road, Colchester, CO1 1U 89m2 £4,055 13
Northgate Street, Colchester, CO1 1E 68m2 £3,265 12

Search for your street here.

Raw data

Our analysis of Colchester 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
33, Belle Vue Rd, Colchester £190,000
Feb-2024
111 1,711
110, Claremont Heights, Colchester £113,500
Jan-2024
46 2,467
12 Angels Courtyard, 134, High St, Colchester £186,000
Jan-2024
41 4,536

See the entire list of all sales in Colchester (CO1 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.