Properties in Frome

Frome homeowner or landlord? Curious about the trends in Frome's property market?

One measure is the average price paid for homes bought and sold in Frome in the last 12 months, on a rolling month by month basis.

Two-bedroom homes remain a popular choice, especially in areas like Frome, where they account for a notable 21% of all properties.

Nationally, 27.1% of homes have two bedrooms, representing a total of 6.71 million properties. The appeal of two-bedroom homes lies in their versatility and affordability. For first-time buyers or small families, they offer the perfect balance of space without the significant cost associated with larger properties.

Welcome back to news of Frome's property market, where each week we bring you different local property market stats and trends. This week we are back again with the October's £/sq.ft statistics.

The average property presently in Frome is on the market for £358 per square foot, a figure representing the current heartbeat of Frome's property market.

As an estate agent in Frome, we are pleased to present a detailed infographic illustrating the average house prices across the various UK regions. This valuable insight into the property market ensures that both buyers and sellers are well-informed about the current trends affecting their decisions.

Here's a summary of the average house prices by region, sorted from highest to lowest:

Future legislation and the recent Budget have stirred considerable anxiety among landlords. The Chancellor's decision to increase the additional Stamp Duty Land Tax (SDLT) from 3% to 5% for landlords purchasing additional properties initially suggested a grim outlook for the buy-to-let sector. This move, coupled with the introduction of the Renters' Rights Act, which proposes to abolish Section 21 and effect a landlord database, poses new challenges for Frome landlords but also opens doors to new opportunities. Despite these hurdles, deeper market insights reveal reasons for optimism among property investors.

Taxation Changes: Assessing the Impact

This infographic provides a snapshot of the percentage of homes across twelve UK regions that have achieved the best Energy Performance Certificate (EPC) ratings of A, B, or C. 

EPC ratings measure a property's energy efficiency, with A being the most efficient. The data reveals a substantial variation in energy-efficient homes across the UK.

UK house prices have risen by 65.4% since 2014, yet the reality is that growth in property prices in the UK and indeed Frome has differed from city to city, town to town.

Looking closer to home, Frome has also experienced a varied rise in house prices, much like the wider UK property market, again rising at differing rates in the different neighbourhoods, depending on the specific area. As shown in the map, darker redder areas represent those with higher average house price growth, while lighter yellow colours indicate more modest increases. 

Average House Prices in the Regions

As an estate agent in Frome, we are pleased to present a detailed infographic illustrating the average house prices across the various UK regions. This valuable insight into the property market ensures that both buyers and sellers are well-informed about the current trends affecting their decisions.

As the property landscape in Frome continues to evolve, many homeowners who have been on the market for a while find themselves navigating the complex decision of when and how much to reduce their asking prices to attract buyers.

With an increasing number of properties on the market in the Frome area, rising from 277 in August 2022 to 445 in August 2024, the competition is becoming fiercer, making strategic price adjustments more crucial than ever.

By Rivendell Estates

23rd Oct 2024 10:00 am | Local News