Latest Property News
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Is Frome’s Housing Market Broken for First-Time Buyers?
As we move into early summer 2025, Frome's property market paints a bleak picture—especially for first-time buyers. Headlines scream that getting a foot on the ladder is harder than ever, and for many, that feels painfully true. With the average first-time buyer deposit in 2024 hitting a staggering £61,000, dreams of homeownership are slipping further out of reach.
Soaring rents and the ever-rising cost of living have created a perfect storm. Young buyers are told to save more, spend less, and be patient—advice that rings hollow when house prices continue climbing faster than salaries. For many in Frome and beyond, the idea of owning a home now feels more like a fantasy than a future plan.
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UK Regional House Sales Continue to Climb in 2025
There’s strong momentum in the UK housing market, with the number of homes going under offer (sale agreed) from January to April 2025 up across most regions compared to the same period last year. This points to rising buyer confidence and a market that continues to move, making it of particular interest to anyone in and around Frome considering a move this year.
Here’s how each region has performed in terms of year-on-year percentage growth in homes sold subject to contract:
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6 Reasons Why the Interest Rate Cut Is Good News for the Frome Property Market
The Bank of England has just reduced the base rate by 0.25%.
But what does that really mean for the Frome housing market?
Here are six reasons why this is good news for homeowners and landlords.
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What’s the Average Price Paid for a Flat in the UK?
Flats and apartments make up just over 21% of the UK’s housing stock and while they’re typically more affordable than houses, the price differences across the country are quite stark. Over the last 12 months, average flat prices and volumes of sales have shown significant variation depending on region.
Here’s what the data reveals:
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Private Rents in the South West Have Risen by 53% Since 2016 – But What Does That Really Mean?
Since 2016, private rents in the South West have increased by 53%, according to data from TwentyEA and Denton House Research. This figure may come as a surprise to some and no doubt will stir mixed feelings—especially among tenants who’ve seen their monthly outgoings steadily climb.
Yet there’s another side to the story.
Landlords have faced rising costs of their own—maintenance, compliance, mortgage interest, and more. Rent isn’t just a charge; it’s the return on an investment, and that investment helps maintain the quality and availability of homes in our local rental market.
What’s interesting is that this rental growth in the South West sits within a wider national trend. Across the UK, average rents have risen by 33.1% since 2016. At the same time, average wages have gone from £28,195 to £37,430—a rise of 32.75%. When looked at side by side, rent growth has closely mirrored wage growth, showing the market is, in many ways, driven by tenant affordability.
Some regions—like Inner London (23.8%) and Outer London (20.5%)—have seen below-inflation rent growth. Others, like the South West (53.0%) and Scotland (47.4%), have seen more significant increases, likely reflecting a longer-term catch-up.
