Property prices continue to grow in Wales

THE latest house price data released by the Office for National Statistics (ONS) for September 2021 reveals that Wales continues to be the region in the UK with the highest house price growth.

The annual price change of a property in Wales has risen by 15.4% from September 2020 to September 2021, with the average price of a property now standing at £196,216.

The month-to-month Wales analysis shows an increase of 2.5% in prices from August 2021 to September 2021.

On a UK level, the average UK house price increased over the year by 11.8% to a record high of £270,000.

Pembrokeshire was the hot spot for the month of August, but the latest ONS figures point to Vale of Glamorgan (20.6%) and Carmarthenshire (20.0%) as being the counties to see the highest growth in September.

In Wales, all local authority areas showed an increase in average house prices in September 2021 when compared with September 2020.

Vale of Glamorgan showed the strongest growth, rising by 20.6% to an average of £283,709 in the year to September 2021.

In contrast, Bridgend showed the lowest annual change, with an increase of 3.1% in the year to September 2021, with the average house price at £172,583.

In September 2021, the most expensive area to purchase a property was Monmouthshire, where the average cost was £315,000.

In contrast, the cheapest area to purchase a property was Blaenau Gwent, where the average cost was £115,000.

Rob Fearnley, local property partner at Purplebricks, said: “Properties in the county of Carmarthenshire in particular have continued to increase in price, due to a lack of properties on the market. This has created a very competitive market for buyers.

“This is in addition to the fact that we are blessed to have several areas of outstanding natural beauty, resulting in a high demand with buyers.”