Blessed with sunshine at present we may be but not with the increasing stock levels this season normally brings. After recovering from a frenetic Easter which stood out as one of the best selling fortnights we’ve seen in 5 years, its all hands to the pumps to try and refill the shelves with new property but, as soon as we take on a new house or apartment, we’re besieged with buyers and most sales are being agreed after multiple offers. At present, well over 75% of our properties are under offer despite being between 1st and 4th out of 72 Bath agents for new instructions over the last 6 weeks. The looming election has had little or no effect on demand levels, there is more than a hint of desperation in some agents valuations and headlines this morning report average asking prices up by 1.7% on the month.
The city as a whole is, as always, an activity hotspot again this month with families and first time buyers leading the charge for summer holiday completions but the village market has also woken up with a vengeance after New Year slumbers. Investment buyers have been out again in large numbers and we have already seen a further increase in this market after annuity rule changes.
Please see below for a selection of April 2015 figures with comparisons to our previous reports where appropriate
Total property on market in Bath
Rightmove – 449
Zoopla – 271
OnTheMarket – 180
Home.co.uk – 455
June 2014 comparison – between 542 and 557
New Instructions in last 14days
Rightmove – 109
Zoopla – 57
OnTheMarket – search option not available
Home.co.uk – 73
June 2014 comparison – 90 – 150
Average Time on Market
Less than 1 month – 32%
Less than 2 months – 48%
More than 1 year – 3.7%
June 2014 comparison
less than 1 month – 33%
less than 2 months – 51%
more than 1 year – 7.6%
Selling Time in Bath (last 90days)
Mean – 90days
Median – 36days
January 2015 and November 2014 comparison
Mean – 101 days (November score 87 days)
Median – 67 days (November score 59 days)
Properties for Sale in Bath by Price
Under 200k – 13%
200k to 300k – 21%
300k to 500k – 30%
500k+ – 36%
