Shepton Mallet

Area Guide For Shepton Mallet

Shepton Mallet is a small rural town and civil parish in the Mendip district of Somerset in South West England. Situated approximately 18 mi (29 km) south of Bristol and 5 mi (8.0 km) east of Wells, the town is estimated to have a population of 9,700. It contains the administrative headquarters of Mendip District Council. Bowlish is a hamlet on the A371 road between Shepton Mallet and Croscombe. The Mendip Hills lie to the north, and the River Sheppey runs through the town. Shepton Mallet lies on the route of the Fosse Way, the principal Roman road into the south west of England, and there is evidence of Roman settlement. The town contains a fine parish church and a considerable number of listed buildings. Shepton Mallet Prison is England's oldest prison still in use. In medieval times, the wool trade was important in the town's economy, although this declined in the 18th century to be replaced by other industries such as brewing; the town continues to be a major centre for the production of cider. Shepton Mallet is the closest town to the site of the Glastonbury Festival, the largest music festival in Europe. Also nearby is the Royal Bath and West of England Society showground

 
 

Shepton Mallet Map

Estimated Price: £239,627
Average Asking Price: £338,839
Price change in last one year: £13,700
Average Price Paid: £209,484
Average Rent Rates: £1,537

 
 

Property Prices Breakdown in Shepton Mallet

Average Price for property in Shepton Mallet is around £239,627 which varies based on type of property you are interested in and ranges from £372,656 for detached house to around £197,865 for semi-detached. Similarly terraced house is around £167,284 and a flat is worth £107,841. Values have been changing and have risen £2,677 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £7,059 in last 6 months, £13,700 in last 1 year, £21,082 in last 2 years, £24,192 in last 3 years, £17,179 in last 4 years and £11,947 in last 5 years.

Currently average asking price of a property in Shepton Mallet is around £338,839 based on approximately 262 properties for sale. Same is the case with rental options based on 17 properties up for rent, average asking rent is around £1,537 per month.

Estimated property value in Shepton Mallet is £239,627. Average asking price is £338,839 while average price paid is £226,421 which is up by £13,700 and Avg. asking rent £1,537.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Shepton Mallet area. In last 1 year alone average price buyer paid is around £226,421 based on approximately 262 sales in Shepton Mallet area alone. If you compare it to last 3 years sales of 747 properties where buyers paid around £212,603. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £209,484 for 1,208 and average amount paid for purchase of approx. 1,653 properties sold in last 7 years comes to about £206,228 per sale.

 
 

Properties For Sale in Shepton Mallet

 
 

Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £117,000, £176,653 for a 2 bedroom house, £199,479 for a 3 bedroom house, £336,141 for a 4 bedroom house and £564,629 for a 5 bedroom house. For a flat similarly the prices varies from £107,975 for a single bedroom to £128,300 for a 2 bedroom Flat. To sum up the asking prices for properties in Shepton Mallet it comes to around average £112,488 for 1 bedroom property, £169,018 for 2 bedroom, £199,479 for 3 bedroom, £336,141 for 4 bedroom and £564,629 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £660 for 2 bedroom to £1,149 for 3 bedroom, £923 for 4 bedroom and £2,951 for 5 bedroom. You should be generally be expecting around average £660 rent per month for 2 bedroom property, £1,149 for 3 bedroom, £923 for 4 bedroom and approximately £2,951 for 5 bedroom property in Shepton Mallet area.

Popular Houses in Shepton Mallet

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

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