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.