House prices in IG7 5 (Woodford)

This article reveals price per square metre data and various charts to help you understand current housing market in 'IG7 5' (Woodford, Chigwell) - statistics were last calculated on 30 August 2024.

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Defining 'IG7 5'

This analysis is limited to properties whose postcode starts with "IG7 5", 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 Woodford.

You can click on the map to change sector, or you can enter a different postcode sector (e.g. CM23 4) below.

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FYI, a postcode sector is the full postcode without the last two letters.

Price per square metre

Knowing the average house price in Woodford 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. 74, Trotwood, Woodford, Chigwell, sold for £160,000 on Jul-2024. Given the internal area of 51 square metres, the price per sqm is £3,137.

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. £6,050-£6,500, £6,500-£6,950, £6,950-£7,400 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 97 sales in Woodford (IG7 5) that took place in the last two years.

Generate a custom chart like the one above but based on your own criteria.

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 Woodford (IG7 5). Of the 97 transactions, half were sold for between £5,130 and £6,700 per square metre. The median, or 'middle', price per square metre in 'IG7 5' is £5,850. Notably, only 25% of properties that sold recently were valued at more than £6,700 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 Woodford, Chigwell

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 Chigwell. 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 Woodford, Chigwell

Comparison with neighbouring postcode sectors

The table below shows how 'IG7 5' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
IG7 5 Woodford	£5,130 sqm	£5,850 sqm	£6,700 sqm
IG7 6 Woodford	£5,160 sqm	£5,810 sqm	£6,830 sqm
IG7 4 Grange Hill	£4,660 sqm	£5,250 sqm	£5,700 sqm

Will Chigwell 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 IG7 5 (Woodford) compared with both the wider area IG7 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

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.

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 Chigwell 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 Chigwell 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
Lechmere Avenue, Woodford, IG7 5E	105 sqm	£6,446	13
Trotwood, Woodford, IG7 5J	52 sqm	£4,764	13
Manor Road, Woodford, IG7 5P	235 sqm	£5,969	12
Hainault Road, Woodford, IG7 5D	264 sqm	£5,766	12
High Road, Woodford, IG7 5B	259 sqm	£7,772	11
Copperfield, Woodford, IG7 5N	80 sqm	£3,827	11
Limes Avenue, Woodford, IG7 5L	82 sqm	£4,225	11
Limes Avenue, Woodford, IG7 5N	75 sqm	£3,978	9

Search for your street here.

Raw data

Our analysis of Woodford 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
74, Trotwood, Woodford, Chigwell	£160,000 Jul-2024	51	3,137
304, Copperfield, Woodford, Chigwell	£235,000 Jun-2024	45	5,222
10, Murtwell Drive, Woodford, Chigwell	£725,000 Jun-2024	118	6,144

See the entire list of all sales in Woodford (IG7 5) here.