# House prices in CO4 9 (Highwoods)

This article reveals price per square metre data and various charts to help you understand current housing market in Highwoods, Colchester (CO4 9).

## Defining 'CO4 9'

This analysis is limited to properties whose postcode starts with "CO4 9", 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 Highwoods.

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 Highwoods 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. 38, Asquith Drive, Highwoods, Colchester, sold for £350,000 on Mar-2024. Given the internal area of 110 square metres, the price per sqm is £3,181.

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. £3,800-£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 237 sales in Highwoods (CO4 9) that took place in the last two years.

##### Distribution of £ per sqm for Highwoods, Colchester
Distribution of £ per sqm house prices in Highwoods

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 Highwoods (CO4 9). Of the 237 transactions, half were sold for between £3,670 and £4,590 per square metre. The median, or 'middle', price per square metre in 'CO4 9' is £4,250. Notably, only 25% of properties that sold recently were valued at more than £4,590 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 Highwoods, 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 Highwoods, Colchester

## Comparison with neighbouring postcode sectors

The table below shows how 'CO4 9' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
CO4 0 Colchester £3,140 sqm £3,620 sqm £4,180 sqm
CO4 6 Colchester £3,560 sqm £3,890 sqm £4,360 sqm
CO4 5 Colchester £3,110 sqm £3,570 sqm £4,160 sqm
CO4 9 Highwoods £3,670 sqm £4,250 sqm £4,590 sqm
CO4 3 Colchester £2,940 sqm £3,520 sqm £4,170 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 9 (Highwoods) 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 Highwoods,Colchester
House price trends for Highwoods

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 9 sales
Recent trends for Highwoods

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
Derwent Road, Highwoods, CO4 9R 61 sqm £4,231 31
Weetmans Drive, Highwoods, CO4 9E 78 sqm £2,969 27
Cleveland Close, Highwoods, CO4 9R 55 sqm £3,787 18
Gavin Way, Highwoods, CO4 9F 94 sqm £3,544 18
Hanbury Gardens, Highwoods, CO4 9T 51 sqm £3,244 17
Chinook, Highwoods, CO4 9X 58 sqm £4,042 16
Victoria Gardens, Highwoods, CO4 9Y 57 sqm £3,672 16
Enville Way, Highwoods, CO4 9U 50 sqm £3,672 15

## New build activity

Street Avg size Avg £sqm New build sales
Memorial Way, Highwoods, CO4 9A 109 sqm £3,785 9
Widgery Way, Highwoods, CO4 9A 114 sqm £3,677 13

Memorial Way, Highwoods, CO4 9A has seen 9 new build sales in the last 4 years (average price £442,715). These new build homes typically have an internal area of 109 sqm, with an average price of £3,785 sqm. This £sqm average is £-465 below the average for CO4 9. New builds typically command a £ per sqm premium. In the case of Memorial Way 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 Highwoods 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.