Another year draws to a close in the Bath property market and, after collecting data on a regular basis each month, we thought it might be interesting to add all our reports together in handy graphs and look for trends which may aid 2018 sellers in planning their marketing approach.
Below, you’ll find a series of snapshot graphs of the year, focussing on seven key property criteria with data drawn from six of our usual monthly Bath property market reports. We’ve added a few of our initial thoughts to the bottom of the article but have otherwise left the bulk of interpretation to the reader.
- May to July was the peak of the season for selling, with the usual seasonal trends (Christmas and summer holidays) delaying matters otherwise.
- Very interesting to see the variation in selling times based on price in particular (graph 2). May seemed best for 200-300k property whereas it looked like July for 100-200k and either side of the summer hols for the 500k – 1million and 400-500k markets respectively. As for the 1million plus crowd, did all the buyers leave on holiday at once?
- Drawing info from property on the market by type, terraces were scarcest in March & July (due to success in selling?). Flats looked like they had a better first half of year whilst semis & detached houses seem to have enjoyed a fruitful summer holiday period.
- If you’re looking to avoid as much competition as possible when you market your property, it would seem the first quarter should be your target for launching whereas July saw peak new instruction levels in this regard.
- Total residential stock levels in the Bath property market climbed steadily throughout the year, increased further by several new home developments in the city but remain at an all time low level – if we had run these reports in 2009 for example, the total stock levels would have approached 1600 units at peak.