Properties in Frome

Since the 1st of January 2019, 9.1 million homes have come onto the UK property market.

We at Rivendell-estates.co.uk wanted to look at the breakdown of the distribution of property types within that figure. 

The latest Census data reveals the percentage of homes that are privately rented across various UK regions, providing insight into the distribution of private rental housing.

Below is a list of each region by the percentage of homes privately rented:

The Renters' Rights Bill, recently announced by the Labour Government, introduces sweeping changes to the private rental sector in England. The Bill is not law yet as it needs to pass through parliament, still many landlords may feel apprehensive about these reforms. Yet it's important to note that much of what the Bill introduced was going to be introduced by the Tories earlier in the year (yet they ran out of time before the General Election). It has been discussed in detail over the past few months in my articles on the Frome property market.

Let's explore the key points that Frome landlords should be aware of and how they impact the sector.

The terraced house, once considered a relic of the past, is making a notable comeback. But one might wonder—did it ever truly go out of fashion? The simple, unassuming two-up two-down, a hallmark of Victorian red-brick Britain, is now being rediscovered by modern Frome buyers looking for more than just a place to live. They want a home, a slice of history, and the benefits of ownership that many newer properties simply don't provide

While the allure of the sleek modern flat may have dominated recent decades, the terraced house is proving to be a surprisingly attractive option for many - particularly for first-time buyers. According to recent research by Zoopla, terraced houses, in particular two-bedroom terraced homes, are currently the fastest-selling type of property in England and Wales, with an average sale time of just 27 days. So, what's behind this resurgence, and is the same happening in Frome? Also, why are terraced houses, which some may have once considered outdated, now back in vogue?

The graphic illustrates the staggering percentage increases in house prices across various regions of the UK over the last 50 years.

The data, sourced from Land Registry, Denton House Research and Nationwide, sheds light on how each part of the UK has seen unprecedented growth. Here's a breakdown, listed in order of the size of growth: 

On Wednesday, Parliament had the first reading of the Renters' Rights Act, and I want to take a moment to reassure landlords that there's really nothing groundbreaking in these proposals that should catch you off guard. In fact, most of the changes were part of the Conservative Party's agenda before they lost power in July. Regardless of which political party is in charge, these reforms were set to come into play, so there's no need to worry that anything revolutionary is happening.

 Let's break down what's involved and how it might affect you as a Frome landlord.

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.