Bath property market update – Nov 2019

We’re only three weeks away from the opening of the Bath Christmas Market (28th Nov to 15th Dec if you’re planning on visiting!) but how does the Bath property market look at the start of the month? Here’s our latest collection of useful market data for you to have a browse through.

The latest Land Registry figures for the Bath postcodes have just been released – these results cover completions recorded up to August 2019. Some significant changes since our October blog, with the BA1 annual change moving from +6.5% to +0.7% and BA2 falling from 0.1% down to 2.8% down.

Transaction volumes remain broadly similar on a monthly basis since the beginning of the year but still slightly down on average on the same period last year. The seasonally adjusted forecast into 2020 also differs between the postcodes, with BA2 holding steady or rising slightly but a bit of a different story for BA1.

Leaving aside the data for a second, our experience of the late autumn market is quite mixed with a sharp decline in new properties coming to market (expected at this time of year) and an upsurge in activity from serious buyers focusing on the remaining stock. As quantity declines, quality improves!

So, what do we have for you this month?

  • BA1 & BA2 Land Registry August transactions
  • Local headline data
  • Downloadable 2017 – 2019 Bath property market spreadsheet
  • Full market data for November 2019 with comparisons to results from Nov 2018

Do let us know if you have any questions or comments – message us over on Facebook or email us at info@madisonoakley.co.uk

November Christmas market

 

Graphs above supplied via Propdex

A few quick headlines for you before we delve into the raw data below;

  • Average asking prices are up 4% in Bath between Nov 2018 and Nov 2019
  • In terms of properties available / on the market, supply levels are down 13% in Nov 2019 compared to Nov 2018
  • Average “time on market” is 17% slower in Nov 2019 compared to Nov 2018
  • Terraces are currently taking 99 days to sell whereas flats are taking a third longer (150 days). Semis and detached are at 122 days and 125 days respectively
  • Comparing sale numbers in August 2019 (the latest available Land Registry figures) vs August 2018, transaction volumes are down 27%

Our full spreadsheet on Bath market data going back to early 2017 is available to download here – 2017-19 Bath prop data

 

Market Data – comparisons below between Nov 2019 (in blue) and Nov 2018 (in red)

Total property on market in Bath

Rightmove – 796 / 881

Zoopla – 763 / 634 

(please note Zoopla appear to have changed their search criteria and the newer figure now contains parts of BANES as well as Bath)

OnTheMarket – 521 / 376

Home.co.uk – 797 / 906

New Instructions in last 14 days

Rightmove – 105 / 207

Zoopla – 67 / 89

OnTheMarket – search option not available

Home.co.uk – 47 / 109

Average Time on Market

Less than 1 month – 15.1% / 23.6%

Less than 2 months – 31.6% / 39.8%

More than 1 year – 10.1% / 8.6%

Selling Time in Bath (last 90 days)

Mean – 124 days / 97 days

Median – 62 days / 61 days

Properties for Sale in Bath by Price

Under 200k – 6.1% / 7.3%

200k to 300k – 16.9% / 17.5%

300k to 500k – 37.2% / 36.2%

500k+ – 39.6% / 38.8%

Mean Selling Times in Bath by price bracket

100 to 200k – 151 days / 83 days

200 to 300k – 133 days / 77 days

300 to 400k – 98 days / 80 days

400 to 500k – 125 days / 106 days

500k to 1million – 116 days / 123 days

1million+ – 187 days / 194 days

Property on market by Type

Flats – 39.1% / 36.2%

Terraced – 23.3% / 25%

Semi-detached – 21.9% / 22.5%

 Detached – 15.7% / 16.3%

Leave a Reply