Latest Property News
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The Average Value of a Frome Terrace / Town House
Frome's classic terraces and smart town houses are the backbone of the town. Over the last twelve months they changed hands at an average of £328,994 . That is the average price paid. By definition, half of sales were below that figure and half were above. This covers everything from older terraces near the centre to newer town houses on modern estates on the outskirts.
What pushes a home above the average is usually a mix of street, condition, parking, garden, EPC, layout, and the simple feel of the place. An ensuite bathroom, a decent kitchen, and a nice garden often make a clear difference. Homes close to schools, transport links, and everyday shops tend to draw a wider pool of buyers.
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The New Build Premium – Why Frome Brand-New Homes Cost More
If you have ever wondered why a brand-new home often costs more than an older one, you’re not alone. This extra cost is called the “new build premium”. Think of it like buying a car, a brand new one commands a higher price because it’s unused, comes with the latest features, and offers peace of mind.
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How will the interest rate cut affect the Frome property market?
The Bank of England has reduced interest rates to 4%, marking its fourth cut in under a year to its lowest level in 2 years. This decision follows a previous reduction in May.
The Bank of England has revised its economic growth forecast for 2025, now predicting a 1.25% expansion, slightly up from an earlier estimate. The impact of this rate cut will be felt across the financial landscape, potentially easing borrowing costs for mortgages and loans while simultaneously reducing returns for savers.
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House Prices Since 2000
Over the last quarter of a century, house prices have risen sharply across the UK, although the scale of growth varies depending on the region.
Here is how each region has fared since 2000, starting with the highest increases:
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% Homes Owned Outright
Understanding the makeup of homeownership in Frome is important for anyone working in property. This graphic highlights the percentage of homes owned outright, without a mortgage. The darker blue areas show where a higher proportion of residents own their homes mortgage-free, while the lighter green shades indicate areas with fewer outright homeowners.
This data doesn’t include those who own with a mortgage, or homes that are privately rented or owned by the local authority. That’s something I'll cover in future updates. For now, this snapshot gives a useful indication of where the highest levels of equity sit in the town.
