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Wells House Prices Wells House Prices

The average house price in Wells is £232,400 using HM Land Registry data.

The average property price increased by £49,375 (16.03%) over the last 5 years and increased by £9,868 (2.84%) over the last 12 months.

Over the last year, there were 187 residential property sales – a decrease of 100 transactions (-53.48%) relative to the previous year. The majority of house sales (56) were in the £228,000 - £326,000 range. Then came properties in the £326,000 - £424,000 range, where 37 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 101 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-12,698 (-3%).

In April 2024, there were 27 new estate agency instructions, 26 agreed home sales and 16 property price reductions.

Postcodes Covered: BA5

5-Year Average Property Prices in Wells

16.03%

Property prices in Wells increased by 16.03% 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 Wells Over the Last Year

2.84%

Property prices in Wells increased by 2.84% 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 Wells - April 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 81 to 100 days, the broad evidence suggests a very slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a notable market slowdown or a combination of both. In such scenarios, vendors may either choose to wait for the market to pick up (which may result in relisting the property at a later date). Those committed to selling will often need to drop the price to a level that will entice genuine homebuyer 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 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 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 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 Wells since 1995

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

Recent Property Sales in Wells

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
40 Southover, Wells, Somerset, BA5 1UH£425,000£410,000-£15,00031 May 202322 Mar 2024296 Days
Flat 8, Homechime House, Priory Road, Wells, Somerset, BA5 1SH£80,000£75,000-£5,00021 Nov 202315 Mar 2024115 Days
27 Millers Gardens, Wells, Somerset, BA5 2TW£495,000£480,000-£15,00023 Oct 202307 Mar 2024136 Days
38 Jocelyn Drive, Wells, Somerset, BA5 2ER£350,000£330,000-£20,00008 Jun 202323 Feb 2024260 Days
85 Wookey Hole Road, Wells, Somerset, BA5 2NH£150,000£150,000£0027 Sep 202302 Feb 2024128 Days
Flat 35, Homechime House, Priory Road, Wells, Somerset, BA5 1SH£125,000£110,000-£15,00020 Mar 202322 Jan 2024308 Days
26 Carlton Court, Wells, Somerset, BA5 1SF£265,000£255,000-£10,00001 Nov 202210 Jan 2024435 Days
48 Woodbury Avenue, Wells, Somerset, BA5 2XP£315,000£290,000-£25,00011 Aug 202320 Dec 2023131 Days
34 Bekynton Avenue, Wells, Somerset, BA5 3NG£275,000£260,000-£15,00013 Jun 202320 Dec 2023190 Days
58 Bekynton Avenue, Wells, Somerset, BA5 3NG£320,000£300,000-£20,00027 Jul 202311 Dec 2023137 Days
24 Serel Drive, Wells, Somerset, BA5 2DQ£210,000£202,000-£8,00026 Jul 202301 Dec 2023128 Days
Roseau, Mill Street, Wells, Somerset, BA5 2AS£295,000£270,000-£25,00029 Nov 202230 Nov 2023366 Days
2 Ash Lane, Wells, Somerset, BA5 2LU£600,000£575,000-£25,00004 Aug 202329 Nov 2023117 Days
28 North Road, Wells, Somerset, BA5 2TL£750,000£745,000-£5,00026 Aug 202323 Nov 202389 Days
21 Drake Road, Wells, Somerset, BA5 3JX£550,000£525,000-£25,00020 Jun 202320 Nov 2023153 Days
15 Osmond Drive, Wells, Somerset, BA5 2JX£425,000£425,000£0005 Jun 202331 Oct 2023148 Days
20 Wood Close, Wells, Somerset, BA5 2GA£450,000£430,000-£20,00012 Apr 202327 Oct 2023198 Days
10 Bishopslea Close, Wells, Somerset, BA5 1TG£500,000£485,000-£15,00025 Jun 202320 Oct 2023117 Days
46 Bishopslea Close, Wells, Somerset, BA5 1TG£375,000£360,000-£15,00003 Aug 202313 Oct 202371 Days
10 Churchill Close, Wells, Somerset, BA5 3HY£243,500£243,500£0022 Jun 202311 Oct 2023111 Days

Most Expensive Streets in Wells

PostcodeStreetAreaAverageNo. of Sales
BA5 2QSMilton LaneWells£831,2504
BA5 2LDNew StreetWells£713,1663
BA5 2LXAsh GroveWells£671,6663
BA5 2PEChamberlain StreetWells£640,0003
BA5 2LUAsh LaneWells£631,6663
BA5 2QTMilton LaneWells£604,1878
BA5 2NQWookey Hole RoadWells£602,3005
BA5 3LQBath RoadWells£578,3333
BA5 2BNPortwayWells£577,0005
BA5 2BAPortwayWells£534,7503

Least Expensive Streets in Wells

PostcodeStreetAreaAverageNo. of Sales
BA5 1SHHomechimePriory Road£96,37821
BA5 1URPalace CourtSilver Street, Wells£105,52211
BA5 2GDWelsh CourtCharter Way£127,9005
BA5 1DJAlfred CourtGate Lane£160,5568
BA5 2LLSheldon MillWells£167,3016
BA5 2QXMondyes CourtMilton Lane£170,06023
BA5 2XYSt Thomas CourtWells£171,4003
BA5 3AFKings Castle CourtBath Road£175,8333
BA5 2FPLax CourtCharter Way£179,5003
BA5 2DRSandford GardensWells£185,70010

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