Wales Property Prices Hit New High

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Wales property prices have hit a new record high, breaching the £200,000 mark for the first time on record last month.

According to the latest Rightmove House Price Index, Wales property rose by 2.1 per cent in April to reach the new average of £200,386.

It wasn’t just Wales property that showed gains in April. Across the country, month-on-month, average property asking prices for homes coming onto the market swelled by £2,841, with four out of 11 regions ‘showing few signs of any Brexit blues’, Rightmove said.

Joining Wales property in showing strong gains were the West and East Midlands and the North West of England, who also reached record highs for new listed properties. In the East Midlands it is now £228,927, in the West Midlands it is £232,247, and in the North West it has reached £198,399.

In the North East of England, the average asking price rose by 1.5 per cent to around £153,752 last month, while over the last year, prices in the region are up 2.6 per cent.

In Scotland, month-on-month, property prices increased by 1.1 per cent to just over £157,000, with homes taking around 44 days to sell.

For Wales property, the East and West Midlands and the North West, the number of new sellers in the year to date has remained steady at -0.3 per cent compared with same period a year ago.

Miles Shipside, Rightmove director and housing market analyst, said: ‘Price increases are the norm at this time of year, with only one fall in the last ten years, as new-to-the-market sellers’ price aspirations are under-pinned by the higher buyer demand that is a feature of the spring market.

‘Indeed the 0.9 per cent monthly rise is consistent with the previous two years’ average rise of 1.0 per cent over the same period.

‘What will seem inconsistent to some, given the ongoing uncertainty of the Brexit outcome, is that four out of eleven regions have hit record highs for new seller asking prices.’

 

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