Latest Property News
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UK Housing Affordability
The housing affordability data across the UK provides an insightful snapshot of how long it would take to buy a home in different regions based on average salaries:
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1 in 8.3 Frome Home Sellers Lower Their Asking Price Every Month
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.
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Frome Property Market Review: The October 2024 Update
Frome homeowner or landlord? Curious about the trends in the Frome 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.
Each month we like to share this figure, and whilst this figure alone will not tell you much, its trend will. Our followers on social media know we write regular articles on the Frome property market. It is in those articles we expand and clarify what these monthly figures mean to you.
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9.1 million homes
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.
Most of these homes, 66% of these were houses. Flats made up around 20%, and bungalows accounted for 8%, reflecting the diverse nature of housing stock available across the country.
The remaining 6% includes various other types of properties, such as retirement homes, mixed-use residential and commercial properties, HMO’s and mobile homes etc.
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67 days to sell a home in Frome
In the bustling property market of Frome, the average time to sell a property with every Estate Agent currently stands at 67 days.
This is below the national average of 73 days.
Interestingly, the national length of time to sell one’s property a year ago was 58 days a year. The national increase in the time it takes to sell a property reflects broader changes in UK market dynamics, possibly influenced by economic factors and buyer behaviour.
