House prices in CO2 8 (Colchester)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CO2 8' (Colchester) - statistics were last calculated on 30 June 2024.

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Defining 'CO2 8'

This analysis is limited to properties whose postcode starts with "CO2 8", 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.

Search Area:

Change sector

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. 41 Heia Wharf, Hawkins Road, Colchester, sold for £128,000 on May-2024. Given the internal area of 55 square metres, the price per sqm is £2,327.

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 313 sales in Colchester (CO2 8) 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.

The spread of prices will give you a feel of the typical range to expect in Colchester (CO2 8). Of the 313 transactions, half were sold for between £2,840 and £3,900 per square metre. The median, or 'middle', price per square metre in 'CO2 8' is £3,320. Notably, only 25% of properties that sold recently were valued at more than £3,900 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.

House price heatmap for Colchester

Comparison with neighbouring postcode sectors

The table below shows how 'CO2 8' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CO2 9 Colchester	£3,060 sqm	£3,490 sqm	£4,040 sqm
CO2 0 Layer De La Haye	£3,460 sqm	£3,820 sqm	£4,190 sqm
CO2 8 Colchester	£2,840 sqm	£3,320 sqm	£3,900 sqm
CO2 7 Colchester	£3,020 sqm	£3,440 sqm	£3,900 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 8 (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.

Download time series data as CSV (paying users only).

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.

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
Old Heath Road, Colchester, CO2 8A	80 sqm	£3,296	33
Caelum Drive, Colchester, CO2 8F	60 sqm	£3,005	29
Quayside Drive, Colchester, CO2 8G	58 sqm	£2,958	28
Albany Gardens, Colchester, CO2 8H	78 sqm	£2,520	27
Friday Wood Green, Colchester, CO2 8X	53 sqm	£3,877	24
Lethe Grove, Colchester, CO2 8R	72 sqm	£2,628	22
Cavendish Avenue, Colchester, CO2 8B	72 sqm	£3,478	22
Adelaide Drive, Colchester, CO2 8U	69 sqm	£3,536	17

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	sqm	£/sqm
41 Heia Wharf, Hawkins Rd, Colchester	£128,000 May-2024	55	2,327
51, Queensland Drive, Colchester	£340,000 Apr-2024	95	3,578
2, Wetzlar Court, Colchester	£234,000 Apr-2024	56	4,178

See the entire list of all sales in Colchester (CO2 8) here.