# House prices in CO4 3 (Colchester)

This article reveals price per square metre data and various charts to help you understand current housing market in 'CO4 3' (Colchester) - statistics were last calculated on 31 July 2024.

## Defining 'CO4 3'

This analysis is limited to properties whose postcode starts with "CO4 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.

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. 40, Charles Pell Road, Colchester, sold for £140,000 on Jun-2024. Given the internal area of 78 square metres, the price per sqm is £1,794.

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. £3,350-£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 202 sales in Colchester (CO4 3) that took place in the last two years.

##### Distribution of £ per sqm for Colchester
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 (CO4 3). Of the 202 transactions, half were sold for between £2,880 and £4,110 per square metre. The median, or 'middle', price per square metre in 'CO4 3' is £3,450. Notably, only 25% of properties that sold recently were valued at more than £4,110 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

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 'CO4 3' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO4 5 Colchester £3,110 sqm £3,590 sqm £4,100 sqm
CO4 0 Colchester £3,270 sqm £3,660 sqm £4,170 sqm
CO4 6 Colchester £3,620 sqm £4,020 sqm £4,370 sqm
CO4 3 Colchester £2,880 sqm £3,450 sqm £4,110 sqm
CO4 9 Highwoods £3,640 sqm £4,190 sqm £4,540 sqm

## 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 chart below for CO4 3 (Colchester) compared with both the wider area CO4 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,Colchester
House price trends for Colchester

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.

##### Most recent CO4 3 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 Colchester 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 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.

## Street level data

Street Avg size Avg £sqm Recent sales
Harwich Road, Colchester, CO4 3D 77 sqm £3,343 35
Harwich Road, Colchester, CO4 3B 71 sqm £3,209 21
St Andrews Avenue, Colchester, CO4 3A 90 sqm £3,444 20
Parsons Heath, Colchester, CO4 3H 109 sqm £3,128 19
Hazelton Road, Colchester, CO4 3D 82 sqm £3,671 19
Bromley Road, Colchester, CO4 3J 96 sqm £3,273 15
St Andrews Gardens, Colchester, CO4 3E 72 sqm £3,589 14
Booth Avenue, Colchester, CO4 3B 86 sqm £3,925 13

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 sqm £/sqm
40, Charles Pell Rd, Colchester £140,000
Jun-2024
78 1,794
21, Forest Rd, Colchester £300,000
Jun-2024
88 3,409
40, Avon Way, Colchester £230,000
May-2024
78 2,948