House prices in CO2 7 (Colchester)

This article reveals price per square metre data and various charts to help you understand current housing market in Colchester (CO2 7).


Defining 'CO2 7'

This analysis is limited to properties whose postcode starts with "CO2 7", 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 Colchester.

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 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. 3, Cannons Close, Colchester, sold for £370,000 on Mar-2024. Given the internal area of 93 square metres, the price per sqm is £3,978.

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 330 sales in Colchester (CO2 7) that took place in the last two years.

Distribution of £ per sqm for Colchester
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 (CO2 7). Of the 330 transactions, half were sold for between £3,040 and £3,910 per square metre. The median, or 'middle', price per square metre in 'CO2 7' is £3,450. Notably, only 25% of properties that sold recently were valued at more than £3,910 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 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 'CO2 7' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO2 9 Colchester £2,960 sqm £3,480 sqm £4,010 sqm
CO2 7 Colchester £3,040 sqm £3,450 sqm £3,910 sqm
CO2 0 Layer De La Haye £3,500 sqm £3,870 sqm £4,350 sqm
CO2 8 Colchester £2,850 sqm £3,330 sqm £3,910 sqm

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 chart below for CO2 7 (Colchester) compared with both the wider area CO2 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 Colchester,Colchester
House price trends for Colchester

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 CO2 7 sales
Recent trends for Colchester

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 Colchester 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 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.

Street level data

Street Avg size Avg £sqm Recent sales
Circular Road South, Colchester, CO2 7U 68 sqm £2,658 32
Kensington Road, Colchester, CO2 7F 82 sqm £3,694 30
Londinium Road, Colchester, CO2 7N 78 sqm £3,040 30
Lisle Road, Colchester, CO2 7S 70 sqm £3,041 29
Canterbury Road, Colchester, CO2 7R 73 sqm £3,245 28
Winchester Road, Colchester, CO2 7L 76 sqm £2,952 25
Bourne Road, Colchester, CO2 7L 73 sqm £3,350 22
Layer Road, Colchester, CO2 7J 86 sqm £3,755 19

Search for your street here.

New build activity

Street Avg size Avg £sqm New build sales
Butt Road, Colchester, CO2 7W 72 sqm £3,666 17

Butt Road, Colchester, CO2 7W has seen 17 new build sales in the last 4 years (average price £194,050). These new build homes typically have an internal area of 72 sqm, with an average price of £3,666 sqm. This £sqm average is £216 above the average for CO2 7. New builds typically command a £ per sqm premium so this is normal.

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 sqm £/sqm
3, Cannons Close, Colchester £370,000
Mar-2024
93 3,978
25 Whitworth House, Stable Rd, Colchester £190,000
Mar-2024
55 3,454
30, Barrington Rd, Colchester £225,000
Feb-2024
62 3,629

See the entire list of all sales in Colchester (CO2 7) here.

About

I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.