2021 Half year market roundup –
Now we’ve reached the half year point in 2021 (and thankfully the end of the sub 500k Stamp Duty holiday) its time to recap on the latest market trends. National headlines have been bewildering recently, with the Nationwide suggesting residential property prices in the UK are increasing at the fastest annual rate in 17 years. However, their 13.4% annual property price growth figure is less impressive when we take into account last June we were barely a month out of Lockdown 1. More important is the three consecutive months of house price growth, which suggests the end of the full SDLT saving has had little effect on buyers appetite to move.
In order to avoid the same trap as Nationwide, we have compared our latest local market data below against our Summer 2019 reports. Have a look below at the headlines and full report to see what you think;
Headlines
The current fastest property types to sell are three and four bedroom houses.
Flats are taking 52% longer to sell than other property types.
Supply levels are 25% lower than June 2020 and 33% lower than June 2019
The average “time on market” scores are 27% faster than a year ago but 4% slower than June 2019
Average asking prices are up 4% in the last year
The latest stats are below with comparisons (in red) from Summer 2019
Total property on market in Bath
Rightmove – 533 (895)
Zoopla – 465 (601)
OnTheMarket – 238 (576)
Home.co.uk – 552 (881)
New Instructions in last 14 days
Rightmove – 106 (227)
Zoopla – 62 (92)
OnTheMarket – search option not available
Home.co.uk – 64 (131)
Average Time on Market
Less than 1 month – 22.4% (27%)
Less than 2 months – 38.4% (45.5%)
More than 1 year – 8.6% (8.3%)
Selling Time in Bath (last 90 days)
Mean – 105 days (117 days)
Median – 39 days (56 days)
Properties for Sale in Bath by Price
Under 200k – 7.4% (7.7%)
200k to 300k – 20.4% (18.5%)
300k to 500k – 36.2% (36.6%)
500k+ – 35.8% (36.5%)
Property on market by Type
Flats – 55.9% (38.3%)
Terraced – 16.3% (22.8%)
Semi-detached – 14.1% (22.8%)
Detached – 11.2% (16.1%)
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