Average House Prices in Colchester
Understanding the average house prices in Colchester is essential if you are thinking of moving to the area.
The state of the housing market in any given location can be determined largely by looking at average house prices in said area.
Anyone trying to purchase or sell a home in Colchester, as in many other towns and cities across the UK, will need to have a solid understanding of the average house prices at the time they wish to move!
In this post, we’ll look at house prices in Colchester as well as some of the variables that determine the prices of properties in the area.
As you will see in this article, Colchester is an excellent place to live, with many factors impacting the cost of properties.
We hope you find this article useful and can help you get your upcoming move started soon!
Overview of Colchester
Historic Colchester is one of the oldest settlements in the UK and the first Roman city in Britain.
The city, which today ranks among Essex’s most sought-after locations, not only has a rich past but also provides an excellent location to live.
Colchester is ideally situated for anyone looking for a getaway from the stresses of modern life thanks to its location near the Essex countryside and coastline.
The city is conveniently located on the edge of the stunning Dedham Dale, a designated area of outstanding natural beauty, meaning you are never too far away from some beautiful scenery.
Colchester is also a good option for commuters wanting to live outside of London thanks to its great train connections.
Locals living here can make the most of the 50-minute commute to London.
The area is also well connected in the local area with trains to Ipswich taking around 20 minutes, and Chelmsford 25 minutes.
Clearly, the city is a well-connected place to live!
To add further appeal to the area, Colchester also offers its residents a range of excellent amenities.
The area has outstanding local schools, amazing shopping options as well as some well-known attractions including one of the UK’s top zoos!
Key Considerations When Moving in Colchester
A house’s price in Colchester is influenced by a number of factors, such as its location, property type, amenities, and overall market circumstances.
For instance, homes in desirable locations—such as those close to the city centre or near reputable schools—often fetch higher prices than those in less desirable ones.
As you would expect, larger homes with more bedrooms and bathrooms tend to cost more than smaller homes.
Gardens, garages, and swimming pools are all amenities that will add to the value of a house in Colchester.
It is always important to keep in mind what you require from a property.
Understanding exactly what you need from a home will help to make your search a lot easier.
You will be able to quickly establish the best areas of the city for you.
By narrowing your search in this way, you should find the house hunt far more manageable and successful!
Average House Prices in Colchester
The average house price in Colchester varies depending on a number of factors, including location, house type, and amenities.
The current average house price in Colchester is £344,906.
However, this figure can vary widely depending on the area of the city and the type of property you are looking for.
For example, a three-bedroom terraced house in the city centre may cost around £300,000, while a five-bedroom detached house in a prime location could cost upwards of £1 million.
In terms of house type, the average price of a detached house in Colchester is around £507,463, while a semi-detached house costs an average of £339,268.
Flats are generally the most affordable option, with an average price of around £187,936.
Those looking for a cheaper option whilst still wanting a house should consider a terraced property, with average prices sitting at £286,549.
Factors Affecting Property Prices
The location of a property also plays a significant role in determining its price.
Houses in desirable areas, such as Lexden and the city centre, tend to be more expensive than those in less desirable areas.
For example, the average house price in the popular area of Lexden is sitting at an average of £466,500.
This is significantly higher than the overall average for Colchester!
The presence of certain amenities can also affect the price of a property.
For example, a property with a garage or off-street parking may be more expensive than a similar property without these features.
Similarly, a house with a large garden or outdoor space may command a higher price than one with a smaller or non-existent garden.
It’s worth noting that the trend in average house prices in the area has been upward in recent years.
While there was a dip in prices during the early stages of the COVID-19 pandemic, prices have since rebounded and are now higher than ever.
Colchester’s excellent amenities and scenic location alongside increased demand for properties in commutable distance to London have really cemented Colchester’s popularity!
This trend is expected to continue as we move forward, with many experts anticipating further price increases.
Are You Moving in Colchester?
Having a good understanding of average house prices in Colchester is crucial for anyone looking to buy or sell a property in the area.
Prices will vary depending on the location, type, and amenities of the property.
While the average house prices have been increasing in recent years, it’s important to keep an eye on the market and seek professional advice before making any decisions.
If you are considering either buying or selling a property in the area we are here to help!
GoodMove Moving & Storage will make moving to Colchester an easy and stress-free task.
We take great pleasure in ensuring everything goes smoothly and seamlessly with your move, ensuring you settle in your new home right away.
In addition to our competitively priced removals package, we can also offer additional services such as temporary or long-term storage facilities should you need them.
We cover all areas of Essex, Suffolk, Kent and Norfolk and our friendly estimators can visit at a time convenient to you and strategically plan your move to perfection.
To find out more about how we could get your dream move to Colchester or any other location underway don’t hesitate to call us on the number listed above.
Alternatively, fill out a quick quote form or click on our live bot in the bottom right and a member of our customer services team will be in touch shortly.