Properties in Frome

Average Age of Frome Residents

For residents, this information can foster a deeper connection to their community by highlighting areas with similar age groups, potentially enhancing social cohesion and community engagement.

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.

Good news for Frome landlords and Frome tenants !

The latest data on rent growth since January 2020 highlights significant increases across the UK, providing a promising outlook for landlords, especially those in Frome.

Over the past few years, the UK rental market has experienced significant fluctuations, with rents increasing dramatically during the Covid-19 pandemic. Between 2020 and 2022, demand far exceeded supply, driving rents to unprecedented levels.

In the South West for example, the average rent has risen from £913 per calendar month (PCM) to £1,339pcm YTD in 2024.

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

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.

In the face of widespread speculation and media reports predicting a downturn since September 2022, the Frome property market, alongside the broader British market, has demonstrated remarkable resilience.

Analysis and data up to Q1 2024 reveal a stable and recovering housing sector, contrary to the "doom and gloom" narratives.

Whether you are a Frome landlord looking to liquidate your buy-to-let investment or a Frome homeowner looking to sell your home, finding a buyer and then getting the legal work done can take a frustratingly long time, writes Rivendell Estates.

It is a step-by-step process that can take many months.

The 5 Year 31 Week Itch in the Frome Housing Market

There are 28.4m households in Britain, of which 17,693,200 are owned, worth a total of £5,127,807,837,600 (£5.1 trillion). When you add all the private rented homes and council houses, that figure reaches just over £8.5 trillion!

Frome's rental landscape has undergone significant changes in the past decade, and understanding these shifts is crucial for any astute landlord.

To illuminate these trends, I have created an insightful heat map that vividly depicts the evolution of average rental prices across Frome over the last 10 years.