Feb 07, 2023 by HM

# House prices in Colchester (CO3 9)

This article reveals price per square metre data and various charts to help you understand current housing market in Colchester (CO3 9).

## Defining 'CO3 9'

This analysis is limited to properties whose postcode starts with "CO3 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 Allingham Court, King Coel Road, Colchester, Stanway, sold for £265,000 on Feb-2024. Given the internal area of 74 square metres, the price per sqm is £3,581.

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. £3,800-£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 129 sales in Colchester (CO3 9) that took place in the last two years.

##### Distribution of £ per sqm for Colchester (CO3 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 (CO3 9). Of the 129 transactions, half were sold for between £3,510 and £4,370 per square metre. The median, or 'middle', price per square metre in 'CO3 9' is £3,950. Notably, only 25% of properties that sold recently were valued at more than £4,370m2. 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.

House price heatmap for Colchester

## Comparison with neighbouring postcode sectors

The table below shows how 'CO3 9' 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 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 CO3 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 CO3 9 and the blue dots are the individual property sales that inform this trend.

##### Price per square metre in Colchester (CO3 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
Straight Road, Colchester, CO3 9D 99m2 £3,499 22
Newcastle Avenue, Colchester, CO3 9X 84m2 £3,817 20
Straight Road, Colchester, CO3 9B 102m2 £3,514 14
Collingwood Road, Colchester, CO3 9B 75m2 £3,436 14
Dugard Avenue, Colchester, CO3 9E 108m2 £3,258 14
Parr Drive, Colchester, CO3 9E 85m2 £3,908 14
Straight Road, Colchester, CO3 9E 111m2 £3,888 12
Firstore Drive, Colchester, CO3 9E 86m2 £3,664 11

Search for your street here.

## 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
5 Cherrywood Court, Straight Rd, Colchester, Stanway £174,000
Feb-2024
58 3,000
2 Allingham Court, King Coel Rd, Colchester, Stanway £265,000
Feb-2024
74 3,581
Eastview, Porters Lane, Colchester, Stanway £371,000
Nov-2023
88 4,215

#### 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.