Feb 07, 2023 by HM

House prices in Chipstead (CR5 3)

This article reveals price per square metre data and various charts to help you understand current housing market in Chipstead (CR5 3).

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Price per square metre

Knowing the average house price in Chipstead 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. Flat 7 Graphic House, Station Approach, Chipstead, Coulsdon, sold for £265,000 on Sep-2023. Given the internal area of 51 square metres, the price per sqm is £5,196.

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. £5,800-£6,000, £6,000-£6,200, £6,200-£6,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 221 sales in Chipstead (CR5 3) that took place in the last two years.

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 Chipstead (CR5 3). Of the 221 transactions, half were sold for between £4,870 and £6,130 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,130m². 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 'CR5 3' is £5,460. The table below shows how 'CR5 3' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
CR5 1 Coulsdon	£4,830m2	£5,520m2	£6,420m2
CR5 2 Coulsdon	£4,480m2	£5,200m2	£5,890m2
CR5 3 Chipstead	£4,870m2	£5,460m2	£6,130m2

Will Chipstead 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 CR5 3 (Chipstead). 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 CR5 3 and the blue dots are the individual property sales that inform this trend.

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

Price map for Chipstead

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 Chipstead. 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.

House price heatmap for Chipstead

Street level data

Street	Avg size	Avg £/m2	Recent sales
Chipstead Valley Road, Chipstead, CR5 3B	78m2	£5,128	72
Brighton Road, Chipstead, CR5 3E	79m2	£4,663	33
Outwood Lane, Chipstead, CR5 3N	128m2	£5,381	32
St Andrews Road, Chipstead, CR5 3H	106m2	£5,298	28
Woodlands Grove, Chipstead, CR5 3A	87m2	£5,492	21
Winifred Road, Chipstead, CR5 3J	94m2	£5,721	20
Westleigh Avenue, Chipstead, CR5 3A	85m2	£5,389	17
Rickman Hill, Chipstead, CR5 3D	119m2	£5,076	15

Search for your street here.

New build activity

Street	Avg size	Avg £/m2	New build sales
Charles Howell Drive, Chipstead, CR5 3J	150m2	£4,950	18
Whattingdon Road, Chipstead, CR5 3J	134m2	£4,711	15
Philand Lane, Chipstead, CR5 3G	115m2	£5,176	10
Johnson Drive, Chipstead, CR5 3J	127m2	£4,779	12

Charles Howell Drive, Chipstead, CR5 3J has seen 18 new build sales in the last 4 years (average price £732,805). These new build homes typically have an internal area of 150 m2, with an average price of £4,950 m2. This £sqm average is £-510 below the average for CR5 3. New builds typically command a £ per sqm premium. In the case of Charles Howell Drive 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 Chipstead 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
Flat 7 Graphic House, Station Approach, Chipstead, Coulsdon	£265,000 Sep-2023	51	5,196
6, Chinthurst Mews, Chipstead, Coulsdon	£515,000 Aug-2023	112	4,598
9, Crawford Crescent, Chipstead, Coulsdon	£740,000 Aug-2023	150	4,933

See the entire list of all sales in Chipstead (CR5 3) here.