Wells Property Market Overview
England's smallest city with cathedral heritage and premium boutique development opportunities
The Wells property market recorded 231 residential sales over the past 12 months, with a median sale price of £347,000. This places Wells £53k above the Somerset county median of £294,000, and £62k above the UK national median of £285,000.
Prices in Wells have shown strong growth, with a year-on-year change of +6.8%. Within Somerset, Wells ranks 2nd by price out of 8 principal towns, and 7th by transaction volume.
Wells House Prices by Property Type
Property prices in Wells vary significantly by type. The table below compares Wells prices with Somerset county averages and UK national figures.
| Type | Wells | Somerset Avg | UK Avg |
|---|---|---|---|
| Detached | £555,000 | £432,500 | £420,000 |
| Semi-detached | £325,000 | £293,750 | £265,000 |
| Terraced | £287,500 | £251,250 | £230,000 |
| Flat | £185,000 | £156,500 | £225,000 |
Detached homes in Wells command £555,000, while flat properties are most accessible at £185,000. The £370k spread between the most and least expensive types indicates a diverse market with opportunities across the development spectrum.
Median Price by Property Type
New Build Homes in Wells
Wells recorded 0 new-build transactions in the past 12 months, representing 0.0% of total sales. New-build supply is limited, potentially indicating either planning constraints or an untapped opportunity for developers.
New-build properties in Wells traded at a discount of 100.0% versus existing stock. Developers should focus on specification, design quality, and location to maximise values above comparable second-hand stock.
Across the wider Somerset market, 118 new-build completions were recorded — see our Somerset property market report for the full county picture.
Recent Property Sales in Wells
The following table shows the most recent property transactions recorded in Wells, providing real-time evidence of achieved prices for buyers, sellers, and developers:
| Price | Type | Postcode | Date | Status |
|---|---|---|---|---|
| £422,500 | Semi-detached | BA5 1LQ | 2026-02-13 | Existing |
| £230,000 | Semi-detached | BA5 3JG | 2026-02-09 | Existing |
| £480,000 | Semi-detached | BA5 1LQ | 2026-02-05 | Existing |
| £630,000 | Semi-detached | BA5 3HP | 2026-02-05 | Existing |
| £320,000 | Detached | BA5 1HD | 2026-02-02 | Existing |
These transactions are sourced from HM Land Registry Price Paid data and represent completed, registered sales. The range from £230,000 to £630,000 illustrates the breadth of the Wells market.
Development Finance in Wells
For developers considering Wells, the local market data translates directly into finance structuring. With a median value of £347,000 and detached homes at £555,000, lenders can assess scheme viability with confidence.
A typical development finance facility for a Wells scheme with a GDV of £555,000 would attract senior debt of approximately £360,750 at 65% LTGDV. Mezzanine finance can stretch total borrowing to 85-90% of costs, while bridging loans enable rapid site acquisitions completing in as little as 5 working days.
With prices rising 6.8% year-on-year, Wells presents a supportive environment for new development. Lenders view positive price momentum favourably when assessing loan applications.
Ready to develop in Wells? Submit your scheme for indicative terms within 24 hours from our panel of 100+ lenders.
Wells Compared to Nearby Somerset Towns
To put Wells's market in context, the table below compares it with similarly-priced towns across Somerset:
| Town | Median Price | Sales (12m) | YoY Change |
|---|---|---|---|
| Wells | £347,000 | 231 | +6.8% |
| Frome | £324,995 | 401 | 0% |
| Weston-super-Mare | £310,000 | 2,663 | -1.6% |
| Glastonbury | £278,000 | 157 | -2.1% |
| Taunton | £277,500 | 1,231 | -0.9% |
| Bath | £428,000 | 1,163 | -0.5% |
For the full Somerset town-by-town breakdown, see our comprehensive Somerset property market report.
Finance Solutions
Related Finance Products
Development Finance
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From 6.5% p.a. · Up to 65-70% LTGDVBridging Loans
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Stretch your capital stack beyond senior debt to reduce equity requirements.
From 12% p.a. · Up to 85-90% LTGDVRelated Reports
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5 min readFrequently Asked Questions
What is the average house price in Wells?
The median house price in Wells is £347,000, based on 231 transactions over the past 12 months. Detached homes average £555,000 while flat properties average £185,000.
Are house prices rising or falling in Wells?
House prices in Wells are rising at +6.8% year-on-year. This positive trend suggests sustained buyer demand. The wider Somerset market is rising at +0.1%.
How many properties sold in Wells recently?
Wells recorded 231 residential property sales in the past 12 months. This represents a reasonably active market.
What development finance is available for projects in Wells?
Developers in Wells can access development finance from 6.5% p.a. at 65-70% LTGDV, mezzanine finance stretching to 85-90% of costs, bridging loans completing in 5-10 days, and development exit finance. Construction Capital sources the best terms from 100+ lenders.