Bath property market update – March 2020

March Bath property market update –

With the spring equinox, St Patricks Day, Mothers Day and setting the clocks forward, the calendar for March is pretty packed. The same is usually true for estate agents diaries at this time of year – signs of spring tend to bring out sellers who have been hibernating through Storm Dennis, Ciara and Jorge. Is this going to happen this year though? We saw over our last two articles a rise in activity in January and early Feb as Brexit uncertainty eased. However, we’ve now got more turmoil with coronavirus concerns alongside the continuing incessant rain. Will this delay the spring season a little?

March bath property

As usual, we’ve collected together a range of data on the Bath property market alongside the figures from last March for comparison. Do have a look at the stats below which we have left mainly to your own interpretation. However, the standout headline is the level of supply – approx 13% down on the same time last year. This may partly be down to speedier sales (as indicated by average time on market figs) but new instructions are well down across the board vs last year. From our recent experience, this is leading to a good deal of frustration amongst eager buyers. As a practical example, of the last five homes we put Under Offer in the last week, every single one had several interested parties offering. Affordability also continues to be an issue in the city, with under 5% of available properties below £200,000 and an average property price approaching £440,000.

March

Bath property market data collected 4th March 2020.

Figures in brackets are comparisons to March 2019

Total property on market in Bath

Rightmove – 676 (745 in March 2019)

Zoopla – 569 (578 in March 2019)

OnTheMarket – 430 (333 in March 2019)

Home.co.uk – 647 (750 in March 2019)

 

New Instructions in last 14 days

Rightmove – 130 (161)

Zoopla – 94 (80)

OnTheMarket – search option not available

Home.co.uk – 66 (81)

 

 

Average Time on Market

Less than 1 month – 23% (19.2%)

Less than 2 months – 39.5% (36%)

More than 1 year – 10.8% (6.2%)

 

Selling Time in Bath (last 90 days)

Mean –  147 days (148 days)

Median – 99 days (96 days)

 

 

Properties for Sale in Bath by Price

Under 200k – 4.9% (6.9%)

200k to 300k – 15.9% (17.6%)

300k to 500k – 38.6% (38.6%)

500k+ – 39.8% (36.8%)

 

Mean Selling Times in Bath by price bracket

100 to 200k – 206 days (144 days)

200 to 300k – 135 days (122 days)

300 to 400k – 148 days (136 days)

400 to 500k – 130 days (98 days)

500k to 1million – 132 days (223 days)

1million+ – no current data (153 days)

 

Property on market by Type

Flats – 39.7% (38.5%)

Terraced – 22.6% (24.5%)

Semi-detached – 21.8% (20.7%)

 Detached – 15.9% (14.4%)

 

Fastest sellers – 1) semi detached 2) three bedrooms

 

If you would like the full range of data from 2017 to 2020, our latest spreadsheet is available to peruse here – 2017-20 Bath prop data

 

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