Taunton property market update
by Jack Battersby of Wilkie May & Tuckwood
As we enter into a new year, and indeed a new decade, we are pleased to report that the property market remains buoyant in Taunton.
Listen again to Jack Battersby talking EXCLUSIVELY to Tone FM at the bottom of this page:
Now that the election result has been finalised and Christmas is out the way, we will soon start to see more properties enter the market as we approach the busy, Spring period.
Stamp duty tax exemption for first time buyers coupled with a shortage in available rental properties resulted in an increased number of first-time buyers purchasing in Taunton throughout 2019.
Land Registry data shows that the average property price in Taunton Deane has risen from £196,069 in January 2010,
to £242,188 in October 2019. That’s a rise of £46,119 (or 23%) over the course of the last decade.
I believe this increase in price can this can be attributed to a number of factors such as competitive mortgage rates, government initiatives such as the ‘Help-To-Buy’ scheme and increased employment numbers.
Another factor to consider is our city neighbours, Bristol and Exeter.
House prices in Exeter have risen by 36% over the last ten years whilst Bristol has seen an astonishing 73% rise on its average property price since 2010.
With Taunton offering a mainline intercity railway station, a new and improved motorway junction currently under construction and easier access to remote working, it is really not surprising to see more people than ever before choosing to buy in the county town.
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If you are thinking of buying or selling in Taunton, Jack can be contacted on 01823 332121 or found at Wilkie May & Tuckwood who are located next to the taxi rank, on Corporation Street.
*Figures correct as of 1/1/2020 – taken from Land Registry
Listen again to Jack Battersby talking EXCLUSIVELY to Tone FM below: