Latest figures released by HM Land Registry show an annual increase in house prices in Wales in the year to March 2017 of 4.2%, taking the average property value to £147,921. Monthly house prices have risen 0.9% since March 2017. Detached properties have seen the highest level of growth at 6.1% in the year to March 2017.
This compares to an annual price increase of 5.7% In England which takes the average property value there to £236,519. Monthly house prices have risen by 1.3% since March 2017
In London the annual price increase was 4.7% taking the average property value to £482,779. Monthly house prices In London have risen by only 0.7% since March 2017
Price change for Wales
|Wales||Monthly change % since March 2017||Annual change % since April 2016||Average price April 2017|
Average price by property type for Wales
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“The property market in Pembrokeshire was exceptionally busy in the first five months of 2017”, says Carol Peett of West Wales Property Finders. Enquiry levels were at their highest we have seen since I started in the West Wales property market 14 years ago and properties, particularly those under the £500,000 mark, were flying off the shelf. Even larger, more expensive properties which had languished on the market for a number of years were selling; be it at reduced prices. However, since the General Election was called, enquiries have cooled, as is always the case in the run up to an Election with the uncertainty it brings. Unfortunately, instead of reviving as soon as the results were announced, the Hung Parliament has resulted in the uncertainty remaining and, with Brexit negotiations due to start imminently, in all probability we are unlikely to see the market quite as buoyant for some time. If the Government remains strong and on course despite the set back, prices should not be too affected with overseas investors and ex-pats taking advantage of the weak pound, making up for any possible drop off in local buyers. If things remain in a state of flux for too long, however, prices may start to stagnate or fall providing once more for a buyers’ market.
If you are looking to move to Pembrokeshire, Carmarthenshire, Ceredigion or Gower, or buy a second home or buy to holiday let here, get in touch with West Wales Property Finders on 01834 862816. We can find your perfect property for you whilst saving you time, stress and money.