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Average House Prices Hit New Peak in Wales

October 15, 2019 by Carol Peett

Coastal homes in Pembrokeshire have been particularly popular

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.

According 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 – Pembrokeshire (£207,561), Carmarthenshire (£166,769), Bridgend (£175,144), Cardiff (£239,788), Newport (£202,947), 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%.

If you are looking to move to Pembrokeshire, Carmarthenshire or Ceredigion, or purchase a property here, give West Wales Property Finders a call on 01834 862816. We can find your perfect property for you whilst saving you time, stress and often money too http://www.westwalespropertyfinders.co.uk.

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