Feb 07, 2023 by HM

# House prices in Mile End (CO4 5)

This article reveals price per square metre data and various charts to help you understand current housing market in Mile End (CO4 5).

## Defining 'CO4 5'

This analysis is limited to properties whose postcode starts with "CO4 5", 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 Mile End 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, Apprentice Drive, Mile End, Colchester, sold for £194,000 on Feb-2024. Given the internal area of 69 square metres, the price per sqm is £2,811.

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 414 sales in Mile End (CO4 5) that took place in the last two years.

##### Distribution of £ per sqm for Mile End (CO4 5)
Distribution of £ per sqm house prices in Mile End

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 Mile End (CO4 5). Of the 414 transactions, half were sold for between £3,080 and £4,100 per square metre. The median, or 'middle', price per square metre in 'CO4 5' is £3,510. Notably, only 25% of properties that sold recently were valued at more than £4,100m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

## Price map for Mile End

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 Mile End. 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 Mile End

## Comparison with neighbouring postcode sectors

The table below shows how 'CO4 5' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO4 0 Colchester £3,240m2 £3,640m2 £4,170m2
CO4 9 Highwoods £3,670m2 £4,250m2 £4,590m2
CO4 6 Colchester £3,440m2 £3,830m2 £4,360m2
CO4 3 Colchester £2,920m2 £3,500m2 £4,130m2
CO4 5 Mile End £3,080m2 £3,510m2 £4,100m2

## Will Mile End 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 CO4 5 (Mile End). 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 CO4 5 and the blue dots are the individual property sales that inform this trend.

##### Price per square metre in Mile End (CO4 5) over time
House price trends for Mile End

Hover on any blue dot to see details of specific sales

Disclaimer: The data provided throughout this website about Mile End 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 Mile End data or any other data I am given.

## Street level data

Street Avg size Avg £/m2 Recent sales
Bergholt Road, Mile End, CO4 5A 78m2 £3,332 52
Propelair Way, Mile End, CO4 5Y 66m2 £2,841 30
Axial Drive, Mile End, CO4 5R 75m2 £3,065 26
Kirk Way, Mile End, CO4 5Z 89m2 £3,241 25
Springham Drive, Mile End, CO4 5F 87m2 £3,044 24
Mill Road, Mile End, CO4 5L 82m2 £3,922 21
Mile End Road, Mile End, CO4 5D 92m2 £3,349 20
Apprentice Drive, Mile End, CO4 5S 92m2 £3,231 19

## Raw data

Our analysis of Mile End 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.