Properties in Frome

Understanding the Property Market: £/sq.ft Trends in the UK, South West, and Frome

The property market in the UK is a complex and multifaceted entity, characterised by a myriad of factors that influence property prices and values.

One of the critical metrics often underutilised to gauge the value of property is the price per square foot (£/sq.ft). This figure provides a standardised measure, enabling comparisons across different regions and localities.

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The number of homes sold subject to contract (STC) has significantly increased from January to the end of May 2024 (Rivendell Estates)

The property market across the UK is booming, and this is fantastic news for Frome homeowners, landlords, and potential buyers.

As an estate agency in Frome, we are thrilled to share that the number of homes sold subject to contract (STC) has significantly increased from January to the end of May 2024 compared to the same period in 2023.

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Examining past trends reveals a relatively stable market, with only minor fluctuations in transaction volumes.

The recent announcement by the British Prime Minister regarding the next general election set to take place in early July 2024 has inevitably stirred discussions about its potential impact on the Frome property market. Historically, general elections are periods of heightened uncertainty, often leading to speculation about their effects on house prices and transaction levels. However, examining past trends reveals a relatively stable market, with only minor fluctuations in transaction volumes.

House Prices To Remain Steady

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The annual profit for an average Frome home, adjusted for inflation, stands at £8,904.

As we are now nicely into 2024, it's certain the Frome housing market over the last 18 months has been a little more restrained than 2020, 2021 and early 2022, and Rivendell-estates.co.uk believe that the 'steady as she goes' outlook will continue into the rest of 2024 and beyond.

As property ownership is a medium to long-term investment, it is important to see what has happened to Frome house prices.

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