Feb 07, 2023 by HM
House prices in Rowhedge (CO5 7)
This article reveals price per square metre data and various charts to help you understand current housing market in Rowhedge (CO5 7).
Price per square metre
Knowing the average house price in Rowhedge 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 areaE.g. 2, Brand Drive, Rowhedge, Tiptree, sold for £395,000 on Sep-2023. Given the internal area of 90 square metres, the price per sqm is £4,388.
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. £4,250-£4,500, £4,500-£4,750, £4,750-£5,000 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 111 sales in Rowhedge (CO5 7) that took place in the last two years.
Distribution of £ per sqm for Rowhedge (CO5 7)
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.
That said, the spread of prices will give you a feel of the typical range to expect in Rowhedge (CO5 7). Of the 111 transactions, half were sold for between £3,440 and £4,530 per square metre. Notably, only 25% of properties that sold recently were valued at more than £4,530m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.
For the average, we calculate the 'median' or middle price. The median price per square metre in 'CO5 7' is £3,900. The table below shows how 'CO5 7' compares to neighbouring postcode sectors.
|Postcode sector||Lower quartile||Middle quartile||Upper quartile|
|CO5 9 Kelvedon||£3,670m2||£4,200m2||£4,660m2|
|CO5 0 Tiptree||£3,570m2||£4,100m2||£4,580m2|
|CO5 8 West Mersea||£3,640m2||£4,240m2||£5,100m2|
|CO5 7 Rowhedge||£3,440m2||£3,900m2||£4,530m2|
Will Rowhedge 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 CO5 7 (Rowhedge). 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 CO5 7 and the blue dots are the individual property sales that inform this trend.
Price per square metre in Rowhedge (CO5 7) over time
Hover on any blue dot to see details of specific sales
Disclaimer: The data provided throughout this website about Rowhedge 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 Rowhedge data or any other data I am given.
Price map for Rowhedge
I've just finished coding the map I link to below. I find it useful and I am sure it will help you in exploring Rowhedge. 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. I will explain more about the methodology and create a key next week.
Street level data
|Street||Avg size||Avg £/m2||Recent sales|
|Layer Road, Rowhedge, CO5 7N||106m2||£3,148||17|
|Waterfront Promenade, Rowhedge, CO5 7B||97m2||£4,218||14|
|Rectory Road, Rowhedge, CO5 7H||82m2||£3,780||13|
|Oxton Close, Rowhedge, CO5 7J||59m2||£3,180||13|
|Hillview Close, Rowhedge, CO5 7H||81m2||£3,600||11|
|Silva Walk, Rowhedge, CO5 7D||84m2||£3,830||10|
|Maritime Approach, Rowhedge, CO5 7B||97m2||£3,751||10|
|Church Road, Rowhedge, CO5 7P||142m2||£3,447||10|
Search for your street here.
New build activity
|Street||Avg size||Avg £/m2||New build sales|
|Marina Walk, Rowhedge, CO5 7D||88m2||£3,146||15|
|Woods Way, Rowhedge, CO5 7F||103m2||£3,606||12|
Marina Walk, Rowhedge, CO5 7D has seen 15 new build sales in the last 4 years (average price £209,121). These new build homes typically have an internal area of 88 m2, with an average price of £3,146 m2. This £sqm average is £-754 below the average for CO5 7. New builds typically command a £ per sqm premium. In the case of Marina Walk 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.
Our analysis of Rowhedge 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.
|2, Brand Drive, Rowhedge, Tiptree|| £395,000
|23 Abberton Grange, Layer Rd, Rowhedge, Tiptree|| £165,000
|10, Sawkins Close, Rowhedge, Tiptree|| £305,000
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.