# House prices in CO3 4 (Colchester)

This article reveals price per square metre data and various charts to help you understand current housing market in Colchester, Stanway (CO3 4).

## Defining 'CO3 4'

This analysis is limited to properties whose postcode starts with "CO3 4", 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. 49, Holman Crescent, Colchester, Stanway, sold for £265,000 on Mar-2024. Given the internal area of 78 square metres, the price per sqm is £3,397.

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. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 146 sales in Colchester (CO3 4) that took place in the last two years.

##### Distribution of £ per sqm for Colchester, Stanway
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 (CO3 4). Of the 146 transactions, half were sold for between £3,660 and £4,700 per square metre. The median, or 'middle', price per square metre in 'CO3 4' is £4,080. Notably, only 25% of properties that sold recently were valued at more than £4,700 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 4' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO3 4 Colchester £3,660 sqm £4,080 sqm £4,700 sqm
CO3 0 Stanway £3,560 sqm £4,150 sqm £4,690 sqm
CO3 3 Colchester £2,980 sqm £3,810 sqm £4,360 sqm
CO3 9 Colchester £3,500 sqm £3,900 sqm £4,320 sqm
CO3 8 Stanway £3,550 sqm £3,930 sqm £4,350 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 4 (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.

##### Historic price per square metre in Colchester,Stanway
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 CO3 4 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 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
Shrub End Road, Colchester, CO3 4R 107 sqm £3,744 29
Magazine Farm Way, Colchester, CO3 4E 93 sqm £4,293 19
King Harold Road, Colchester, CO3 4S 110 sqm £3,998 15
Baden Powell Drive, Colchester, CO3 4S 91 sqm £4,769 14
Plume Avenue, Colchester, CO3 4P 87 sqm £3,509 11
Hills Crescent, Colchester, CO3 4N 84 sqm £4,257 10
Prettygate Road, Colchester, CO3 4E 92 sqm £3,621 10
Cherrywood Drive, Colchester, CO3 4L 109 sqm £4,181 9

## 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.