Bath property market update – April 2015

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%

 April sales from Madison Oakley estate agents in Bath