House prices in CO3 3 (Colchester)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CO3 3' (Colchester, Stanway) - statistics were last calculated on 30 June 2024.

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Defining 'CO3 3'

This analysis is limited to properties whose postcode starts with "CO3 3", 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.

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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. 7 Chichester Court, Lexden Road, Colchester, Stanway, sold for £75,000 on May-2024. Given the internal area of 55 square metres, the price per sqm is £1,363.

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 238 sales in Colchester (CO3 3) 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 (CO3 3). Of the 238 transactions, half were sold for between £3,040 and £4,340 per square metre. The median, or 'middle', price per square metre in 'CO3 3' is £3,800. Notably, only 25% of properties that sold recently were valued at more than £4,340 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, Stanway

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 Stanway. 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, Stanway

Comparison with neighbouring postcode sectors

The table below shows how 'CO3 3' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CO3 9 Colchester	£3,480 sqm	£3,880 sqm	£4,310 sqm
CO3 0 Stanway	£3,530 sqm	£4,140 sqm	£4,690 sqm
CO3 3 Colchester	£3,040 sqm	£3,800 sqm	£4,340 sqm
CO3 8 Stanway	£3,530 sqm	£3,870 sqm	£4,320 sqm
CO3 4 Colchester	£3,620 sqm	£4,000 sqm	£4,680 sqm

Will Stanway 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 CO3 3 (Colchester) compared with both the wider area CO3 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 Stanway 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 Stanway 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
Rotary Way, Colchester, CO3 3L	67 sqm	£2,867	39
Maldon Road, Colchester, CO3 3A	91 sqm	£2,850	39
Butt Road, Colchester, CO3 3D	80 sqm	£3,498	31
St Marys Fields, Colchester, CO3 3F	52 sqm	£2,361	23
Maldon Road, Colchester, CO3 3B	136 sqm	£3,686	22
Wickham Road, Colchester, CO3 3E	72 sqm	£3,726	17
Irvine Road, Colchester, CO3 3T	125 sqm	£3,809	17
Sheepen Place, Colchester, CO3 3L	50 sqm	£2,974	16

Search for your street here.

New build activity

Street	Avg size	Avg £sqm	New build sales
Crouch Street, Colchester, CO3 3H	56 sqm	£2,907	9

Crouch Street, Colchester, CO3 3H has seen 9 new build sales in the last 4 years (average price £374,883). These new build homes typically have an internal area of 56 sqm, with an average price of £2,907 sqm. This £sqm average is £-893 below the average for CO3 3. New builds typically command a £ per sqm premium. In the case of Crouch Street 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	sqm	£/sqm
7 Chichester Court, Lexden Rd, Colchester, Stanway	£75,000 May-2024	55	1,363
175, Lexden Rd, Colchester, Stanway	£625,000 Apr-2024	144	4,340
21, Wickham Rd, Colchester, Stanway	£254,000 Apr-2024	66	3,848

See the entire list of all sales in Colchester (CO3 3) here.