Bath property market update – February 2020

February Bath property market update –

My favourite February fact is that the Saxons called it “Sol-monath” which means “cake month” because they would offer cakes to the gods during February. I shouldn’t have mentioned this to the team as our colleague Mandy now seems to think this means she gets cake all month.

Its Valentines Day but its also time for our monthly round up of essential Bath housing market data and the first point we can highlight is what an epic month January was! The latest Rightmove figures show traffic to site up 7% in January vs Jan 2019, with sales agreed up 9% in the South West vs the same period.

Looking at the January scores, we agreed a whopping thirteen sales for our clients in the month (the second highest total of all agents in Bath, only beaten by a four branch corporate agent with 18 and with all other agents in single figures).

We can also see from the data below that there was a decent increase in local new instructions compared to late Jan but the total stock numbers haven’t really changed at all – we could suggest from this and our own experience that whatever came on sold pretty swiftly. With the uncertainty levels diminished thanks to some Brexit movement and an end to the electioneering, it seems the majority of the local public are right back into the swing of all things property!

If you’re looking to sell or buy in Bath over the next few months, have a look at the stats below to familiarise yourself with the patterns in the local market and do let us know if you need any further info.

 

If you’d like the full range of month by month data from 2017 onwards, our four year spreadsheet is available here – 2017-20 Bath prop data

 

Local property data – BA1 and BA2 only – collected Feb 12th 2020

 

Total property on market in Bath

Rightmove – 649 (+2.6% vs Jan)

Zoopla – 560 (+0.8% vs Jan)

OnTheMarket – 434 (+0.7% vs Jan)

Home.co.uk – 636 (+2.1% vs Jan)

New Instructions in last 14 days

Rightmove – 160 (+40% vs Jan)

Zoopla – 99 (+23% vs Jan)

OnTheMarket – search option not available

Home.co.uk – 92 (+135% vs Jan)

Average Time on Market

Less than 1 month – 24.8% (+100% vs Jan)

Less than 2 months – 33.4% (+60% vs Jan)

More than 1 year – 11.7% (+7.3% vs Jan)

Selling Time in Bath (last 90 days)

Mean – 155 days (-3.2% vs Jan)

Median – 93 days (+23% vs Jan)

Properties for Sale in Bath by Price

Under 200k – 6.2%

200k to 300k – 15.8%

300k to 500k – 38.6%

500k+ – 39.1%

Mean Selling Times in Bath by price bracket

100 to 200k – 172 days

200 to 300k – 113 days

300 to 400k – 142 days

400 to 500k – 118 days

500k to 1million – no data from sales

1million+ – no data from sales

Property on market by Type

Flats – 39.8%

Terraced – 21.8%

Semi-detached – 22.1%

Detached – 16.2%

Look back at 2019

Peak transactions in 2019 in Bath (according to HM Land Reg) were in March and August

Supply level declined steadily from Aug high point to Christmas

Average transaction price held steady throughout 2019 between £331,000 and £337,000

February

 

From our January blog but still relevant info;

Top ten 2019 days for maximum Rightmove property views – likely to be similar in 2020

  1. Sunday 13th January
  2. Monday 21st January
  3. Sunday 27th January
  4. Wednesday 2nd January
  5. Monday 18th February
  6. Saturday 12th January
  7. Sunday 3rd February
  8. Sunday 24th April
  9. Wednesday 14th August
  10. Wednesday 6th February

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