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).


Defining 'CO3 8'

This analysis is limited to properties whose postcode starts with "CO3 8", 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 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. 52, Sealion Approach, Stanway, sold for £417,500 on Jan-2024. Given the internal area of 112 square metres, the price per sqm is £3,727.

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 113 sales in Stanway (CO3 8) that took place in the last two years.

Distribution of £ per sqm for Stanway (CO3 8)
Distribution of £ per sqm house prices in Stanway

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 Stanway (CO3 8). Of the 113 transactions, half were sold for between £3,570 and £4,380 per square metre. The median, or 'middle', price per square metre in 'CO3 8' is £3,980. Notably, only 25% of properties that sold recently were valued at more than £4,380m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for 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.

Property price heatmap for Stanway
House price heatmap for Stanway

Comparison with neighbouring postcode sectors

The table below shows how 'CO3 8' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO3 4 Colchester £3,650m2 £4,100m2 £4,690m2
CO3 9 Colchester £3,510m2 £3,950m2 £4,370m2
CO3 0 Stanway £3,570m2 £4,150m2 £4,700m2
CO3 3 Colchester £2,950m2 £3,790m2 £4,340m2
CO3 8 Stanway £3,570m2 £3,980m2 £4,380m2

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.

Price per square metre in Stanway (CO3 8) over time
House price trends for Stanway

Hover on any blue dot to see details of specific sales

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.

Street level data

Street Avg size Avg £/m2 Recent sales
Sealion Approach, Stanway, CO3 8A 93m2 £4,252 20
Robin Crescent, Stanway, CO3 8W 92m2 £3,001 18
Martin Hunt Drive, Stanway, CO3 8B 85m2 £3,598 15
Martin Hunt Drive, Stanway, CO3 8A 74m2 £3,637 15
Sandmartin Crescent, Stanway, CO3 8W 84m2 £3,330 13
Cheetah Chase, Stanway, CO3 8D 95m2 £3,882 10
Ostrich Street, Stanway, CO3 8A 88m2 £4,016 10
Jackdaw Drive, Stanway, CO3 8W 98m2 £3,448 10

Search for your street here.

New build activity

Street Avg size Avg £/m2 New build sales
Christopher Garnett Chase, Stanway, CO3 8B 92m2 £3,390 21

Christopher Garnett Chase, Stanway, CO3 8B has seen 21 new build sales in the last 4 years (average price £285,055). These new build homes typically have an internal area of 92 m2, with an average price of £3,390 m2. This £sqm average is £-590 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
52, Sealion Approach, Stanway £417,500
Jan-2024
112 3,727
13, Martin Hunt Drive, Stanway £345,000
Nov-2023
101 3,415
12, Jackdaw Drive, Stanway £351,000
Nov-2023
81 4,333

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