Properties in Frome

The Frome property market has experienced a rollercoaster ride since 2019, reflecting the unprecedented challenges and opportunities that have shaped the landscape of home buying and selling in the area. The accompanying graph vividly illustrates these dramatic fluctuations, comparing Frome's monthly house sales, expressed as a percentage of the six-year (2019 to 2024) average in blue. Also on the graph in orange is the Bank of England's base rate between 2019 to 2024.

By examining this six-year time frame, we can better understand the resilience of the local market and the influence of economic factors, particularly interest rates, on property transactions.

The UK property market has seen significant changes over the last century, with distinct trends emerging in the areas of owner-occupied properties, social renting, and private renting.

In 1918, the UK property landscape was dominated by private renters, who made up 75% of all households. At the time, only 25% of the population owned their own homes. Over the next few decades, home ownership gradually increased, reaching about 38% by 1958. This shift was accompanied by a decrease in private renting, which fell to 41% during the same period.

The rental property market is on the brink of a significant shift, one that will undoubtedly cause concern among landlords across the UK. The new Labour government has made clear its intention to raise the minimum energy performance standards for rental properties, a move that could have far-reaching implications for both landlords and tenants alike. The proposed change, which would see the minimum Energy Performance Certificate (EPC) rating for rental properties increase from E to C by 2030, has sparked a mix of anxiety and uncertainty within the property sector.

The new regulations are part of Labour's broader commitment to combat climate change and enhance energy efficiency across the nation's housing stock. Yet this step isn't the first foray by a government into improving the energy efficiency of the U.K.'s private rental homes.

This month's ONS Heat map provides an intriguing look at the distribution of three-person households across Frome.

The darker shades of blue on the map indicate areas with a higher percentage of three-person households, while the lighter shades towards green show areas with a lower percentage.

Are you a Frome homeowner? Are you thinking of moving home in the next six to twelve months?

Whether you're aiming to buy your dream Frome home or sell a beloved property, grasping the current market dynamics is crucial.

In recent years, the European residential mortgage market has experienced significant fluctuations, reflecting broader economic trends and local housing dynamics.

By examining both the total mortgage lending and the average lending per capita from 2019 to 2023, we gain a deeper understanding of the property market's impact on individual citizens and the overall economy of each country.

It might surprise many that, despite significant inflation over the past few years, buying a house today is still more affordable as a percentage of take-home pay.

The average value of a typical Frome first-time buyer property has surged by 318.1% since 1989 (35 years ago), reaching £309,600 in 2024. So, the title of this article sounds wrong.

The King's Speech at the State Opening of Parliament sets the agenda for the government's priorities. This year's speech, delivered by King Charles, is the first from a Labour government since 2010 following the recent general election.

With 30+ bills highlighted, there are significant plans, though nothing particularly groundbreaking or seismic for Frome homeowners or landlords.

Our latest heat map provides a detailed view of Frome's property market, illustrating the percentage of homes valued below the national average price of £281,000 in the different neighbourhoods and areas of the town and surrounding area.

This visualisation not only helps prospective Frome buyers understand where more affordable homes are located but also provides sellers with insights into current market conditions in their locality. 

The length of time it takes to sell a property is a crucial indicator of the health of the property market. This metric can provide insight into supply and demand dynamics, the efficiency of estate agencies, and overall market confidence.

For Frome homeowners and investors alike, understanding these trends can inform better decision-making. When properties sell quickly, it often reflects a strong market with high demand, whereas longer sale times might suggest a surplus of properties or decreased buyer interest.