Early autumn Bath property market figures

Botanical Gdns

After a bit of a break for beachcombing and ice cream, we are back to the coalface with a vengeance in September. As the kids filter back to school, buyers eyes turn back to the property market in Bath. As I discussed in my column last week in the Chronicle, between the end of the summer hols and the beginning of the run up to the festivities is a perennially popular time for high levels of activity between buyers and sellers. If you’re considering selling now term time is here again, the most important advice is probably to move swiftly to launch – apart from the fact other competing owners will be considering the same, the Bath market has always been acutely affected by seasonal variations and the run up to autumn is no exception. With average transaction times hovering around 8 – 12 weeks and buyers traditionally targeting moving in before Christmas, you’ll see that viewings need to be started as swiftly as possible in September.

To give you an idea of what autumn trends you’ll be navigating, I have attached below my usual collation of important figures specifically dealing with the Bath market (as always compared against the same stats from my last blog post on the topic in July).

I’ll leave you to interpret the figures how you like but note with interest that the market is now very close to hitting the 50% mark in terms of total Bath properties priced over 500k

Total property on market in Bath

Rightmove – 454 (July 429) 

Zoopla – 342 (July 342) 

OnTheMarket – 157 (July 140) 

Home.co.uk – 511 (July 473) 

New Instructions in last 14 days

Rightmove – 124 (July 139) 

Zoopla – 93 (July 66) 

OnTheMarket – search option not available

Home.co.uk – 80 (July 84) 

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

Average Time on Market

Less than 1 month – 28.1% (July 31.07%) 

Less than 2 months – 48.9% (July 55.3%) 

More than 1 year – 4.3% (July 3.3%) 

Selling Time in Bath (last 90 days)

Mean – 74 days (July 60 days) 

Median – 35 days (July 25 days) 

Properties for Sale in Bath by Price

Under 200k – 4.5% (July 5.07%) 

200k to 300k – 13.1% (July 15.8%) 

300k to 500k – 33.2% (July 30.2%) 

500k+ – 49.2% (July 48.8%) 

Mean Selling Times in Bath by price bracket

100 to 200k – 41 days (July 36 days) 

200 to 300k – 54 days (July 41 days) 

300 to 400k – 73 days (July 51 days) 

400 to 500k – 67 days (July 44 days) 

500k to 1million – 112 days (July 91 days) 

1million+ – 78 days (July 95 days) 

Property on market by Type

Flats – 28.1% (July 34.9%) 

Terraced – 24.8% (July 23.6%) 

Semi-detached – 22.1% (July 21.8%) 

Detached – 19.5% (July 19.7%)

 

Final #Bathpropertymarketfact – According to Zoopla, 22.2% of properties currently for sale in Bath have had their price reduced at least once (76 out of 342)

Herbert Road