Bath property market figures – April 2016

tulip

T.S Eliot believed April to be the cruellest month whilst Mark Twain reminds us that “The first of April is the day we remember what we are the other 364 days of the year.” However, if we look outside the literary sphere and into the property market in Bath, what will April bring alongside the usual showers? I have provided the usual figures below, crossreferenced against last months results, with the addition of a breakdown of property types currently on the market.

As always, I shall leave the reader to draw their own conclusions but would briefly highlight the following as worth closer examination;

  • Total supply increases between 8.5% and 14% (although from a recordbreakingly low point in March)
  • Recent fortnight shows slight slowdown in new properties (Easter hols?)
  • Slight increase in time on market although overall average selling time decreases
  • Welcome uplift in sub300k property supply
  • Family market awakens as 300k+ property selling times drop ?

Total property on market in Bath

Rightmove – 334 (March 288)

Zoopla – 251 (March 233)

OnTheMarket – 108 (March 92)

Home.co.uk – 359 (March 316)

New Instructions in last 14 days

Rightmove – 108 (March 112)

Zoopla – 42 (March 55)

OnTheMarket – search option not available

Home.co.uk – 71 (March 65)

Note: Rightmove continues to class a reduced property as a “New instruction” hence distortion of figures

Average Time on Market

Less than 1 month – 35.6% (March 40.5%)

Less than 2 months –58.7% (March 58.2%)

More than 1 year – 2.7% (March 3.4%)

Selling Time in Bath (last 90 days)

Mean – 70 days (March 75)

Median – 24 days (March 27)

Properties for Sale in Bath by Price

Under 200k – 7.5% (March 6.3%)

200k to 300k – 16.9% (March 14.8%)

300k to 500k – 33.4% (March 37.3%)

500k+ – 42.06% (March 41.4%)

Mean Selling Times in Bath by price bracket

Under 100k  81 days (March 80 days)

100 to 200k  55 days (March 58 days)

200 to 300k  45 days (March 46 days)

300 to 400k  86 days (March 94 days)

400 to 500k  66 days (March 77 days)

500k to 1million  81 days (March 90 days)

1million+  111 days (March 123 days)

Property on market by Type

Flats – 36.9%

Terraced – 23.4%

Semi-detached – 19.2%

Detached – 20.4%

Madison Oakley Bath Property Experts