Latest figures from the Land Registry which details actual sold prices and, therefore, produces the only accurate statistics, show that house prices in Wales rose by 3.8% in the year to May 2017 and 0.6% in the month from April 2017. The largest price rise was for flats and maisonettes which rose 7.8%. The average house price in Wales is May was £149,817.
Property prices in London rose by an average of just 3.0% in the year to May 2017.
“The property market in West Wales is busier than I have ever known it in the 14 years I have been specialising in this area”, said Carol Peett, Managing Director of buying agent, West Wales Property Finders. “All sectors of the market, from flats and bungalows to period seaside homes and large country houses are selling fast and certain sectors, such as properties with sea views, are achieving very high prices. Prices rise here, for Pembrokeshire in particular, are considerably higher than those in Wales as a whole. For example, a traditional cottage with distance sea views and requiring substantial renovation went to auction in June with a guide price of £200-£250,000 and sold for £410,000 and this is not unusual here”.
Most of the sales in Pembrokeshire over the past year were detached properties which on average sold for £237,388. Semi-detached properties had an average sold price of £143,307 and terraced properties averaged at £128,416.
The most expensive area within Pembrokeshire was Newport, Pembrokeshire (£340,666) and the cheapest was Neyland (£119,382).
| Wales | Monthly change % since April 2017 | Annual change % since May 2016 | Average price May 2017 |
| Wales | 0.6 | 3.8 | £149,817 |
Average price by property type for Wales
| Property type | May 2017 | May 2016 | Difference % |
| Detached | £221,822 | £215,069 | 3.1 |
| Semi-detached | £144,909 | £138,484 | 4.6 |
| Terraced | £116,128 | £112,917 | 2.8 |
| Flat/maisonette | £112,812 | £104,659 | 7.8 |
| All | £149,817 | £144,296 | 3.8 |
Average price by property type for London
| Property type | May 2017 | May 2016 | Difference % |
| All | £481,345 | £467,485 | 3.0 |
Average house prices will top £300,000 by the middle of the next decade with the price of a typical home in the UK jumping from last year’s £212,00 to £302,000 by 2025, according to a report by accountancy firm PriceWaterhouseCoopers. The report does suggest that prices are not rising quite as fast as they have done in recent years, with London suffering the sharpest slowdown after increases in Stamp Duty on expensive homes.
If you are looking to move to Pembrokeshire, Carmarthenshire, Ceredigion or Gower, or buy a property here in West Wales, give West Wales property Finders a call on 01834 862816. We can find your dream home for you whilst saving you time, money and stress. Nearly 90% of the properties we find for our clients never hit the open market. With really good properties in short supply, this ensures our clients get the pick of the crop.
http://www.westwalespropertyfinders.co.uk
