Feb 07, 2023 by HM

House prices in Stanway (CO3 8)

This article reveals price per square metre data and various charts to help you understand current housing market in Stanway (CO3 8).

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Price per square metre

Knowing the average house price in Stanway 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. 13, Penguin Parade, Stanway, sold for £309,500 on Aug-2023. Given the internal area of 64 square metres, the price per sqm is £4,835.

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 118 sales in Stanway (CO3 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.

That said, the spread of prices will give you a feel of the typical range to expect in Stanway (CO3 8). Of the 118 transactions, half were sold for between £3,450 and £4,310 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,310m². For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

For the average, we calculate the 'median' or middle price. The median price per square metre in 'CO3 8' is £3,820. The table below shows how 'CO3 8' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CO3 4 Colchester	£3,550m2	£4,110m2	£4,710m2
CO3 9 Colchester	£3,470m2	£3,870m2	£4,290m2
CO3 0 Stanway	£3,610m2	£4,210m2	£4,700m2
CO3 3 Colchester	£2,920m2	£3,610m2	£4,270m2
CO3 8 Stanway	£3,450m2	£3,820m2	£4,310m2

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 scatter plot below for CO3 8 (Stanway). 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 CO3 8 and the blue dots are the individual property sales that inform this trend.

Disclaimer: 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. 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 Stanway data or any other data I am given.

Price map for Stanway

I've just finished coding the map I link to below. 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. I will explain more about the methodology and create a key next week.

House price heatmap for Stanway

Street level data

Street	Avg size	Avg £/m2	Recent sales
Sealion Approach, Stanway, CO3 8A	93m2	£3,965	21
Robin Crescent, Stanway, CO3 8W	93m2	£3,009	17
Martin Hunt Drive, Stanway, CO3 8A	74m2	£3,614	16
Martin Hunt Drive, Stanway, CO3 8B	85m2	£3,611	14
Sandmartin Crescent, Stanway, CO3 8W	84m2	£3,226	13
Ostrich Street, Stanway, CO3 8A	88m2	£3,767	11
Allen Aldridge Grove, Stanway, CO3 8B	87m2	£3,541	10
Cheetah Chase, Stanway, CO3 8D	95m2	£3,882	10

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Christopher Garnett Chase, Stanway, CO3 8B	92m2	£3,299	41
Wagtail Mews, Stanway, CO3 8A	53m2	£3,565	11

Christopher Garnett Chase, Stanway, CO3 8B has seen 41 new build sales in the last 4 years (average price £286,224). These new build homes typically have an internal area of 92 m2, with an average price of £3,299 m2. This £sqm average is £-521 below the average for CO3 8. New builds typically command a £ per sqm premium. In the case of Christopher Garnett Chase 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 Stanway 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
13, Penguin Parade, Stanway	£309,500 Aug-2023	64	4,835
10, Peter Crowe Approach, Stanway	£210,000 Jul-2023	59	3,559
16, Christopher Garnett Chase, Stanway	£287,000 Jul-2023	58	4,948

See the entire list of all sales in Stanway (CO3 8) here.