Bath property market update – Sept 2019
The autumn property season is upon us, with schools back in the city today and tomorrow. We’ve already seen a few early bird owners using the end of the holiday season to launch. From the look of the diary already this month, the good news for buyers is that we’re expecting a fair few more. Political currents of course remain uncharted but what does the Bath market look like as we head into September. You’ll find our usual dataset below with comparisons to a year ago, as well as the latest Land Registry updates for both Bath postcodes. Let us know if you’d like any extra info by emailing info@madisonoakley.co.uk
I do hate to raise the subject of the festive season at this time of year. However, the countdown has already started if you want to move before present unwrapping time. Our top tips for the winter move are;
Buyer tip –
If you’re on a deadline, go for no chain properties
The average time from offer accepted to completion is 9 – 12 weeks. If the seller of the property you like hasn’t found somewhere to buy and won’t go into rented, you’ve got no idea how long it might take. Find out the owners position before you view and prioritise the properties with no chain if you want to be eating turkey in a new home
Seller tip –
Price to attract a choice of buyers
Shooting for the top on price might mean only one buyer. Being a little more conservative might get you a choice, allowing you to match the timescales you want with the right buyer for you. Go for best buyer at best price, which may not be the first offer or even sometimes the highest!
Data above provided via Propdex.co.uk
Below data collected 03/09/19 and compared against our Sept 2018 report – figures in brackets are Sept 2018)
Total property on market in Bath
Rightmove – 899 ( Sept 18 – 874)
Zoopla – 612 (585)
OnTheMarket – 588 (355)
Home.co.uk – 873 (858)
New Instructions in last 14 days
Rightmove – 168 (169)
Zoopla – 74 (68)
OnTheMarket – search option not available
Home.co.uk – 84 (71)
Average Time on Market
Less than 1 month – 20% (20.1%)
Less than 2 months – 36.7% (37.1%)
More than 1 year – 9.9% (7.5%)
Selling Time in Bath (last 90 days)
Mean – 118 days (96 days)
Median – 55 days (63 days)
Properties for Sale in Bath by Price
Under 200k – 6.6% (7.2%)
200k to 300k – 17.6% (18.6%)
300k to 500k – 38.7% (37.4%)
500k+ – 37.2% (36.7%)
Mean Selling Times in Bath by price bracket
100 to 200k – 96 days (79 days)
200 to 300k – 116 days (75 days)
300 to 400k – 99 days (98 days)
400 to 500k – 101 days (100 days)
500k to 1million – 143 days (124 days)
1million+ – 182 days (103 days)
Property on market by Type
Flats – 37.1% (36.2%)
Terraced – 24.4% (22%)
Semi-detached – 22.1% (20.8%)
Detached – 16.4% (16.7%)
#bathpropertyfact – The fastest property type to sell in Bath at present is terraces (102 days), swiftly followed by semi-detached (106 days). Flats and detached homes are lagging behind by some way (123 days and 157 days respectively).
