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House Prices in BA5 House Prices in BA5 (Wells)

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.

Nearby Postcodes: BA10, BA11, BA16, BA2, BA3, BA4, BA6, BA7, BS25, BS26, BS27, BS28, BS39, BS40, BS41, BS48, BS49, TA11, TA7, TA9

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.

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).

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)

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
6 Market Street, Wells, Somerset, BA5 2DS£210,000£202,000-£8,00015 Mar 202416 Aug 2024154 Days
Flat 38, Homechime House, Priory Road, Wells, Somerset, BA5 1SH£90,000£80,000-£10,00027 Apr 202309 Aug 2024470 Days
1 Tor Wood View, Wells, Somerset, BA5 2XR£295,000£280,000-£15,00001 May 202409 Aug 2024100 Days
5 St John Street, Wells, Somerset, BA5 1SW£460,000£447,000-£13,00008 Mar 202408 Aug 2024153 Days
70 Southover, Wells, Somerset, BA5 1UH£535,000£525,000-£10,00004 Mar 202408 Aug 2024157 Days
8 Church Road, Coxley, Wells, Somerset, BA5 1RJ£272,500£265,000-£7,50028 Mar 202402 Aug 2024127 Days
42 North Road, Wells, Somerset, BA5 2TL£550,000£525,000-£25,00027 Feb 202323 Jul 2024512 Days
36 Carlton Mews, Wells, Somerset, BA5 1SG£199,950£185,000-£14,95018 Dec 202322 Jul 2024217 Days
61 Bekynton Avenue, Wells, Somerset, BA5 3NG£475,000£475,000£0004 Mar 202417 Jul 2024135 Days
35 Holmlea, Wookey, Wells, Somerset, BA5 1LG£265,000£250,000-£15,00012 Mar 202401 Jul 2024111 Days
11 Melbourne House Mews, Wells, Somerset, BA5 2PG£350,000£350,000£0027 Mar 202428 Jun 202493 Days
4 Lethbridge Road, Wells, Somerset, BA5 2FD£250,000£245,000-£5,00014 Dec 202328 Jun 2024197 Days
28 Burcott Road, Wells, Somerset, BA5 2EQ£350,000£345,000-£5,00025 Jan 202421 Jun 2024148 Days
27 Durkheim Drive, Wells, Somerset, BA5 2BS£210,000£182,000-£28,00022 Jul 202321 Jun 2024335 Days
18 Bath Road, Wells, Somerset, BA5 3LG£515,000£480,000-£35,00012 Feb 202418 Jun 2024127 Days
28 Carlton Court, Wells, Somerset, BA5 1SF£210,000£210,000£0005 Oct 202318 Jun 2024257 Days
24 College Road, Wells, Somerset, BA5 2TB£585,000£560,000-£25,00004 Oct 202312 Jun 2024252 Days
20 Churchill Road East, Wells, Somerset, BA5 3HU£229,950£210,000-£19,95023 Nov 202311 Jun 2024201 Days
89 Portway, Wells, Somerset, BA5 2BR£675,000£675,000£0017 Sep 202305 Jun 2024262 Days
52 Ash Lane, Wells, Somerset, BA5 2LS£650,000£600,000-£50,00009 Nov 202329 May 2024202 Days

Most Expensive Streets in BA5 (Wells)

PostcodeStreetAreaAverageNo. of Sales
BA5 3PZDulcoteWells£936,7503
BA5 3PEChurch Street, DinderWells£833,6904
BA5 2QSMilton LaneWells£831,2504
BA5 3QNCroscombeWells£808,3333
BA5 1PDHentonWells£728,6258
BA5 2BRPortwayWells£683,3333
BA5 2LXAsh GroveWells£671,6663
BA5 2LDNew StreetWells£641,1254
BA5 2PEChamberlain StreetWells£640,0003
BA5 2LUAsh LaneWells£631,6663

Least Expensive Streets in BA5 (Wells)

PostcodeStreetAreaAverageNo. of Sales
BA5 1SHHomechime, Priory RoadWells£99,01923
BA5 1URPalace Court, Silver Street, WellsWells£105,52211
BA5 2GDWelsh Court, Charter WayWells£127,9005
BA5 1DJAlfred Court, Gate LaneWells£167,0647
BA5 2LLSheldon MillWells£167,3016
BA5 2QXMondyes Court, Milton LaneWells£175,47222
BA5 3AFKings Castle Court, Bath RoadWells£175,8333
BA5 2DRSandford GardensWells£185,70010
BA5 3DFLower Chapel Court, South Horrington VillageWells£185,95411
BA5 2HBSheldon DriveWells£192,9905

Explore BA5 (Wells) using map

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