Latest Property News
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The Post General Election Frome Property Market
Despite the anticipations and speculations surrounding the UK General Election, its impact on the UK and Frome property market has been negligible.
Market trends, buyer interest, and property values have remained steady, showing no significant fluctuations attributable to the political climate. This stability suggests that factors such as economic fundamentals, interest rates, and housing supply continue to play a more crucial role in shaping the property market's dynamics than the election results.
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Homeownership Trends in the UK:
Insights for Frome Property Owners and Landlords
The accompanying graphic provides a snapshot of homeownership trends across the UK last year. Nationally, 65% of people own their homes, while 19% live in private rented accommodation, and 16% reside in social housing.
These statistics highlight the varied nature of the property market and offer valuable insights for both homeowners and landlords in Frome.
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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.
In this article, we will delve into the £/sq.ft figures for the UK as a whole, the South West region (and how that compares to other regions), the Frome property market and why this £/sq.ft metric is particularly significant.
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Average Age of Frome Residents
Understanding the average age of residents across Frome and the surrounding areas, is both interesting and crucial for both current residents, landlords plus prospective tenants and homebuyers.
This heat map, compiled using data from the Office for National Statistics and Denton House Property Research, provides a visual representation of the demographic distribution throughout our town and the surrounding areas.
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Exciting News for the Property Market in Frome!
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.
Nationally, the number of properties sold STC rose by an impressive 16.6%, from 420,675 in 2023 to 490,787 in 2024. This surge is mirrored across various regions, indicating a robust and thriving property market. Here’s a breakdown of the growth in different regions:
