Feb 07, 2023 by HM

House prices in Colchester (CO1 2)

This article reveals price per square metre data and various charts to help you understand current housing market in Colchester (CO1 2).

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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. 22, Winsley Road, Colchester, sold for £259,000 on Sep-2023. Given the internal area of 73 square metres, the price per sqm is £3,547.

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. £3,350-£3,500, £3,500-£3,650, £3,650-£3,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 380 sales in Colchester (CO1 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 Colchester (CO1 2). Of the 380 transactions, half were sold for between £2,880 and £3,710 per square metre. Notably, only 25% of properties that sold recently were valued at more than £3,710m². 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 'CO1 2' is £3,300. The table below shows how 'CO1 2' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CO1 1 Colchester	£2,920m2	£3,360m2	£3,830m2
CO1 2 Colchester	£2,880m2	£3,300m2	£3,710m2

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 2 (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 2 and the blue dots are the individual property sales that inform this trend.

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.

Price map for Colchester

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

House price heatmap for Colchester

Street level data

Street	Avg size	Avg £/m2	Recent sales
George Williams Way, Colchester, CO1 2J	60m2	£2,922	41
Greenstead Road, Colchester, CO1 2S	67m2	£3,091	36
Brook Street, Colchester, CO1 2U	58m2	£3,116	29
Harsnett Road, Colchester, CO1 2H	84m2	£3,112	27
Hythe Hill, Colchester, CO1 2N	79m2	£2,788	23
Artillery Street, Colchester, CO1 2J	65m2	£2,986	20
Kendall Road, Colchester, CO1 2B	63m2	£3,324	20
Morant Road, Colchester, CO1 2J	74m2	£3,321	20

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
22, Winsley Rd, Colchester	£259,000 Sep-2023	73	3,547
21, Bristol Rd, Colchester	£330,000 Aug-2023	88	3,750
54, Harsnett Rd, Colchester	£250,000 Aug-2023	98	2,551

See the entire list of all sales in Colchester (CO1 2) here.