Feb 07, 2023 by HM

House prices in Colchester (CO2 9)

This article reveals price per square metre data and various charts to help you understand current housing market in Colchester (CO2 9).


Defining 'CO2 9'

This analysis is limited to properties whose postcode starts with "CO2 9", 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. 2, Elmwood Avenue, Colchester, sold for £195,000 on Feb-2024. Given the internal area of 57 square metres, the price per sqm is £3,421.

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 157 sales in Colchester (CO2 9) that took place in the last two years.

Distribution of £ per sqm for Colchester (CO2 9)
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 9). Of the 157 transactions, half were sold for between £2,970 and £3,890 per square metre. The median, or 'middle', price per square metre in 'CO2 9' is £3,370. Notably, only 25% of properties that sold recently were valued at more than £3,890m2. 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 9' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO2 7 Colchester £3,040m2 £3,430m2 £3,870m2
CO2 0 Layer De La Haye £3,530m2 £3,880m2 £4,480m2
CO2 9 Colchester £2,970m2 £3,370m2 £3,890m2
CO2 8 Colchester £2,830m2 £3,300m2 £3,900m2

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 CO2 9 (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 CO2 9 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Colchester (CO2 9) 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
Salamanca Way, Colchester, CO2 9G 72m2 £2,928 19
Hooper Avenue, Colchester, CO2 9F 74m2 £3,615 15
Henry Everett Grove, Colchester, CO2 9F 84m2 £3,457 14
Berechurch Hall Road, Colchester, CO2 9P 87m2 £3,604 13
Ilex Close, Colchester, CO2 9Q 75m2 £2,885 13
Berechurch Hall Road, Colchester, CO2 9N 109m2 £3,414 12
Elmwood Avenue, Colchester, CO2 9H 73m2 £3,336 11
Paxman Avenue, Colchester, CO2 9D 68m2 £3,329 8

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Earlswood Way, Colchester, CO2 9J 60m2 £3,110 23
Berechurch Road, Colchester, CO2 9P 77m2 £2,920 12
Baronswood Way, Colchester, CO2 9Q 60m2 £3,124 12

Earlswood Way, Colchester, CO2 9J has seen 23 new build sales in the last 4 years (average price £221,077). These new build homes typically have an internal area of 60 m2, with an average price of £3,110 m2. This £sqm average is £-260 below the average for CO2 9. New builds typically command a £ per sqm premium. In the case of Earlswood Way the premium seems not to exist. Without more info we can only speculate why this may be. Perhaps it may be greater density and smaller gardens, but this is just a guess.

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
2, Elmwood Avenue, Colchester £195,000
Feb-2024
57 3,421
19, Hooper Avenue, Colchester £180,000
Jan-2024
61 2,950
30, Vitoria Mews, Colchester £150,000
Jan-2024
59 2,542

See the entire list of all sales in Colchester (CO2 9) 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.