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House Prices in BA5

The average house price in BA5 (Wells) is £343,136 using HM Land Registry data.

The average property price increased by £81,714 (22.12%) over the last 5 years and increased by £16,335 (3.43%) over the last 12 months.

Over the last year, there were 237 residential property sales – a decrease of 140 transactions (-59.07%) relative to the previous year. The majority of house sales (61) were in the £250,000 - £350,000 range. Then came properties in the £350,000 - £450,000 range, where 51 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 77 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-12,698 (-3%).

In June 2024, there were 55 new estate agency instructions, 57 agreed home sales and 31 property price reductions.

5-Year Average Property Prices in BA5 (Wells)

22.12%

Property prices in Wells increased by 22.12% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in BA5 (Wells) Over the Last Year

3.43%

Property prices in Wells increased by 3.43% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

Property Market Heat Gauge for BA5 (Wells) - June 2024

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 61 to 80 days, the broad evidence suggests a slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a market slowdown or a combination of both. In such scenarios, some vendors may either choose to wait for the market to pick up (which may result in some relisting the property at a later date). Others simply reduce the price to a level that will entice more buyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in BA5 (Wells)

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in BA5 (Wells)

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in BA5 (Wells)

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the BA5 (Wells) Postcode since 1995

Using HM Land Registry data, this chart displays average annual house prices in the BA5 postcode area since 1995.

Recent Sales in BA5 (Wells)

Address	Initial Price	Sold Price	Price Change	First Listed Date	Sold Date	Days to Sell
6 Spring Rise, Wells, Somerset, BA5 1UE	£270,000	£265,000	-£5,000	10 Oct 2023	16 May 2024	219 Days
35 Lower Chapel Court, South Horrington Village, Wells, Somerset, BA5 3DF	£180,000	£170,000	-£10,000	25 Sep 2023	16 May 2024	234 Days
Edithmede, Poundfold, Croscombe, Wells, Somerset, BA5 3QY	£550,000	£540,000	-£10,000	21 Jul 2023	25 Apr 2024	279 Days
3 Crease Close, Wells, Somerset, BA5 2DH	£475,000	£458,000	-£17,000	26 Dec 2023	22 Apr 2024	118 Days
4 Hillside Close, Wells, Somerset, BA5 2NA	£499,950	£485,000	-£14,950	21 Aug 2023	05 Apr 2024	228 Days
6 Kings Road, Wells, Somerset, BA5 3LU	£575,000	£558,000	-£17,000	29 Aug 2023	28 Mar 2024	212 Days
40 Southover, Wells, Somerset, BA5 1UH	£425,000	£410,000	-£15,000	31 May 2023	22 Mar 2024	296 Days
Flat 8, Homechime House, Priory Road, Wells, Somerset, BA5 1SH	£80,000	£75,000	-£5,000	21 Nov 2023	15 Mar 2024	115 Days
27 Millers Gardens, Wells, Somerset, BA5 2TW	£495,000	£480,000	-£15,000	23 Oct 2023	07 Mar 2024	136 Days
20 Carlton Court, Wells, Somerset, BA5 1SF	£230,000	£210,000	-£20,000	27 Jul 2023	29 Feb 2024	217 Days
38 Jocelyn Drive, Wells, Somerset, BA5 2ER	£350,000	£330,000	-£20,000	08 Jun 2023	23 Feb 2024	260 Days
4 Tor Street, Wells, Somerset, BA5 2US	£300,000	£280,000	-£20,000	10 Jan 2024	15 Feb 2024	36 Days
Barton, High Street, Wookey, Wells, Somerset, BA5 1JZ	£645,000	£637,500	-£7,500	14 Mar 2023	14 Feb 2024	337 Days
85 Wookey Hole Road, Wells, Somerset, BA5 2NH	£150,000	£150,000	£00	27 Sep 2023	02 Feb 2024	128 Days
Flat 35, Homechime House, Priory Road, Wells, Somerset, BA5 1SH	£125,000	£110,000	-£15,000	20 Mar 2023	22 Jan 2024	308 Days
5 Vicarage Close, Coxley, Wells, Somerset, BA5 1RL	£325,000	£292,500	-£32,500	17 Mar 2023	12 Jan 2024	301 Days
26 Carlton Court, Wells, Somerset, BA5 1SF	£265,000	£255,000	-£10,000	01 Nov 2022	10 Jan 2024	435 Days
48 Woodbury Avenue, Wells, Somerset, BA5 2XP	£315,000	£290,000	-£25,000	11 Aug 2023	20 Dec 2023	131 Days
34 Bekynton Avenue, Wells, Somerset, BA5 3NG	£275,000	£260,000	-£15,000	13 Jun 2023	20 Dec 2023	190 Days
5 Paray Drive, Wells, Somerset, BA5 3HW	£295,000	£285,000	-£10,000	31 Jul 2023	20 Dec 2023	142 Days

Most Expensive Streets in BA5 (Wells)

Postcode	Street	Area	Average	No. of Sales
BA5 3PZ	Dulcote	Wells	£936,750	3
BA5 3PE	Church Street, Dinder	Wells	£833,690	4
BA5 2QS	Milton Lane	Wells	£831,250	4
BA5 3QN	Croscombe	Wells	£808,333	3
BA5 2LD	New Street	Wells	£713,166	3
BA5 1PD	Henton	Wells	£711,555	9
BA5 2LX	Ash Grove	Wells	£671,666	3
BA5 2PE	Chamberlain Street	Wells	£640,000	3
BA5 2LU	Ash Lane	Wells	£631,666	3
BA5 2QT	Milton Lane	Wells	£604,187	8

Least Expensive Streets in BA5 (Wells)

Postcode	Street	Area	Average	No. of Sales
BA5 1SH	Homechime, Priory Road	Wells	£98,106	23
BA5 1UR	Palace Court, Silver Street, Wells	Wells	£105,522	11
BA5 2GD	Welsh Court, Charter Way	Wells	£127,900	5
BA5 1DJ	Alfred Court, Gate Lane	Wells	£167,064	7
BA5 2LL	Sheldon Mill	Wells	£167,301	6
BA5 2XY	St Thomas Court	Wells	£171,400	3
BA5 2QX	Mondyes Court, Milton Lane	Wells	£172,972	22
BA5 3AF	Kings Castle Court, Bath Road	Wells	£175,833	3
BA5 2FP	Lax Court, Charter Way	Wells	£179,500	3
BA5 3DF	Lower Chapel Court, South Horrington Village	Wells	£183,250	12