Latest Property News
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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.
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Frome House Price Review: The July 2025 Update
Frome homeowner or landlord? Curious about the trends in the Frome property market?
One measure is the average price paid for homes bought and sold in Frome in the last 12 months, on a rolling month by month basis.
Each month I like to share this figure, and whilst this figure alone will not tell you much, its trend will.
