Nested, the modern estate agent, has analysed local Colchester house price data to reveal which of the town’s roads rank top of the property market based on the highest total sum of property sold in 2021, as well which roads were home to the highest average house price per property.
Nested analysed residential transactions and sold prices records from the Land Registry between January and December 2021 to find the areas of the market boasting the highest value of homes sold and where a single property will cost you the most.
Highest value of homes sold in Colchester
In 2021, the Colchester road with the highest cumulative sales total was Colchester Road on which, between January and December, the combined value of all house sales came to £10,435,000 .
The roads with the second and third highest total sales value are Maldon Road (£9.7 million) and Lexden Road (£8.9 million).
Highest average sold price per property
In the same year, the Colchester road with the highest average house price was Woodhouse Lane, north of the town centre, at £2.2 million, dwarfing the overall Colchester average house price of around £300,000 which itself has experienced yearly growth of around 10%.
The second and third highest average house prices are found on West Lodge Road (£1.75 million) and Hardys Green (£1.4 million).
For the full top 10 roads for highest value of homes sold and most expensive property price, please see the tables below.
Andy Thripp, Area Partner for Nested, Colchester, commented:
“The demand for homes in the suburban and prime Colchester roads is primarily due to the movement of people flocking from London who are seeking a ‘better quality of life’ and ‘value for their money’.
Colchester is a popular city for the commuter with stations serving direct links into Liverpool Street and there is a choice of outstanding Schools which include Girls High School, Royal Grammar, Oxford House, St Marys and Sixth Form College which increases the city’s appeal amongst a certain demographic of homebuyer.
The shortage of homes and a surge in buyer registrations over the past 12 months has been the catalyst for some very expensive property sales and this has boosted the overall average across many pockets of the market.”
