Market Insights, Colchester

Colchester emerges as a vibrant new City in 2022, with a notable population density of 4.3 residents per hectare. In 2021, the City and associated surrounding areas accommodated a substantial population of 214,024 individuals, reflecting a commendable 19.3% increase over the ten-year period spanning 2011 to 2021, signalling robust growth.

Demographically 13.1% of the population in Colchester falls within the 35 to 44 age bracket, surpassing the regional average. Housing dynamics further illustrate a diverse landscape, with 28.7% of households consisting of single occupants and 37.1% accommodating families with children, contributing to the varied residential make-up of the City.

Colchester presents itself as a thriving and dynamic area to live in, characterised by impressive population growth, demographic diversity, and a resilient economic landscape, making it an appealing destination within the regional context.

Over the last 12 months the average sales price in Colchester was £316,681. The total value
of sales was £937,208,416. 

19% of sales in the past 12 months were flats, achieving an average sales price of £177,885. Houses achieved an average price of £362,646. 

The highest value recorded by the Land Registry over the past 12 months was £517,500 for a flat and £2,400,000 for a house. 

Over the last 12 months, the average rent achieved for homes let in Colchester was £974 per month. This is a +5% change on the previous 12 month period.

54% of homes let in the past 12 months were flats, achieving an average rental value of £842 per month. Houses achieved an average rent of £1,161 per month.

22% of renters are aged between 25 and 29.

Claimed to be Britain’s oldest recorded town, Colchester has and continues to enjoy significant regeneration whilst still offering a mix of property at affordable prices. The area retains a host of amenities including some of the best schools in Essex with 8 currently rated ‘outstanding’. The University of Essex located on the outskirts of town attracts students from all over the world, so there is always a high demand for rental accommodation nearby. The main railway station provides journey times south into London just under 1 hour.