Wells sits in a distinctive part of Somerset, and that shows in the figures. The average sold price is £362,234, but local homes do not behave as one market. Properties close to Wells Cathedral, Vicars Close and the Bishop's Palace can be judged very differently from newer homes off Wookey Hole Road or Charter Way. homedata.co.uk records show BA5 1 prices are up 1.2% over 12 months, although that becomes -1.9% after inflation.
Asking prices tell a sharper story. home.co.uk listing analysis places the average asking price at £437,460, while the current average listing price is £498,485 after a 6.34% rise over six months. Asking prices have also changed by -2.4% on average over the past 6 months, so some sellers have had to reset expectations. In a place like Wells, where the High Street, Cathedral precinct and edge-of-city sites all carry different price signals, the first valuation matters.
The price-per-square-metre figures help explain why blanket valuations can be risky. Of the 228 BA5 1 transactions, half sold between £3,080 and £4,080 per square metre. A compact home near the city centre may sit at a different level from a larger house by the B3139 Wookey Road or off Milton Lane. Strong agents should use comparable sales by street type and property style, not just a broad Wells average.
Bedroom pricing also needs a careful read. home.co.uk listing analysis shows 2-bedroom homes at £275,793, 3-bedroom homes at £406,376 and 4-bedroom homes at £573,079. Five-bedroom homes average £1,098,610, which shows how larger houses can pull headline figures upwards. One-bedroom figures sit at £640,806, so sellers should ask an agent to explain the sample behind any unusual segment before relying on it.
- BA5 1 sold prices rose 1.2% over 12 months
- Half of BA5 1 sales sat between £3,080 and £4,080 per square metre
- Wider BA4 and BA5 activity runs at 17 to 22 sales per month
- Current listing prices average £498,485