Average House Prices Rise In Wales

Newly released figures from Principality Building Society have shown that Wales continues to buck the trend seen across England as the average house price has climbed to reach a record peak of £191,006 over the last three months.

The data from Principality demonstrates the rise and fall in house prices across each of the 22 local authorities in Wales.

According to to the research, house prices have risen in Wales by just over 2% both quarterly and annually, but the average house price remains approximately 40% lower than in England, where the average price is £305,000.

Six local authorities established new peak prices in Q3 – Bridgend (£175,144), Carmarthenshire (£166,769), Cardiff (£239,788), Newport (£202,947), Pembrokeshire (£207,561) and the Vale of Glamorgan (£277,735).

Figures from Principality also show house prices have risen in coastal areas associated with holiday homes and holiday lets. For instance, the annual growth rate in Pembrokeshire is currently 9.6% – the second highest growth rate in Wales. Similarly, Conwy has a growth rate of 7.1% – the fourth highest in Wales – with coastal property hotspots of Abergele, Llandudno and Colwyn Bay.

In terms of housing sales when comparing Q3 2019 and Q3 2018, the number of sales increased by 5.6% in Wales. The figures show that the largest increase in sales in Q3 2019 compared to Q3 2018 was within terraced properties, up by 13.5% over the year, followed by semi-detached properties, up by 8.0%. Detached properties have seen a minor sales increase of 0.4% across the year, while flats have seen a decrease in sales of 15%.

Tom Denman, Chief Financial Officer at Principality Building Society said: “First time buyers, holiday lets and people seemingly not allowing the shadow of Brexit to deter them, means average house prices in Wales continue to buck the trend seen in regions across England. It also seems home movers are continuing to buy higher value properties and overall house sales are up compared to the same quarter in 2018.

The growth in average house prices is underpinned by historically low interest rates, a shortage of housing supply and relatively high employment. It will be interesting to see if this upward trend continues for the rest of the year as Brexit negotiations reach a critical stage.”

Exclusive New Apartments For Sale

Completing Soon – Call 01492 338 228.

Cedar Court is a new luxury development of exclusive apartments, situated in the desirable location of Victoria Park, Colwyn Bay. Prices start from £179,950.

Built with both convenience and opulence in mind, these 2 apartments command panoramic views of the Irish Sea. The Penthouse is the only three bedroom in the block and is over 2000 sq.ft. It has its very own lift opening into the apartment and has panoramic sea views. This impressive, sustainable development is significantly spacious and completed to an exceptional standard. With its striking interior profile and its chic style, Cedar Court Apartments are set for an influx of interest.

The four storey build of the development encompasses 22 open plan apartments comprising of lounge, kitchen and diner in one shared space for ultimate convenience. All appliances included are in keeping with the clean, modern decor of the interior. The stunning views stretching across the ocean aren’t the property’s only enviable feature; its sizeable master bedroom boasts a fully modernised en-suite bathroom. All apartments are fitted with Double A Rated windows, optimising the attractive and far-reaching views.

Upon entering the property, a state-of-the-art video entry telecom system allows you access to your apartment, adding an exquisite layer of extra security. A lift is available for a seamless transition from ground floor to your apartment. A designated parking space (or two) is available within the development, with a fitted bike storage area.

Please see below the styles that are available.

  • 3 bedroom penthouse priced at £395,000 is over 2,000 sq.ft.
  • 2 bedroom apartment with views 962 sq.ft at £219,000
  • 2 bedroom apartment 825 sq.ft. with view at £205,000
  • 2 bedroom apartment 815 sq.ft. with view at £179,950

If you would like further information or would like to arrange a viewing, please call 01492 338 228.

Cedar Ct – Apr 19
Cedar Ct – Apr 19
Cedar Ct – Apr 19
Cedar Ct – Apr 19