PRICES ON THE RISE
NEARLY a quarter of homes in Wales have increased in value by more than the average salary in the country in the past 12 months, according to new research.
So over the past year, some people’s homes have earned more by increasing in value than the salary of the people living there. And there are five Welsh counties most likely to have seen this happen, according to property portal Zoopla.
The housing market has been influenced significantly by the coronavirus pandemic, with estate agents and property experts suggesting that the more time spent in lockdown at home has altered people’s perspective on where they live.
Zoopla’s data found that Pembrokeshire is the place where homes are most likely to have increased in value by more than average earnings. The average salary in Pembrokeshire is £26,300, and research by the website has found that 42% of homes in the area have gone up by more than this in the past year.
Ceredigion came in second place. There, the average salary is £26,200 - but 39% of homes there increased in value by more than this figure in the past 12 months. The three remaining areas listed in the top five by Zoopla are Anglesey (38%), Powys (36%) and Gwynedd (29%).
The data suggests that homes in rural and coastal locations have been in particularly strong demand during the course of the pandemic, with many reportedly seeking out a lifestyle change.
Grainne Gilmore, head of research at Zoopla, said: “When this price rise is translated into pounds and pence, it means nearly a quarter of homes in Wales have risen in value by more than the equivalent of a year’s earnings over the space of 12 months.”
Within the five areas named there are still properties to be found significantly under the regional average, homes where space, location and potential combine.
There are many houses looking to welcome a new owner that can offer all three of these for less than the regional average, here are just a few.
1. Pembrokeshire: In this popular and pretty county, with a coastline that is also a national park, the current average value of property is £212,000 according to Zoopla.
This three-bed traditional stone terrace with double, bay windows and classic stone wall is on the market for offers over £160,000.
Located in the coastal town of Goodwick, along the rugged and picturesque north Pembrokeshire coastline, surely a sea view is not an option at this price? But at this house you can actually see the sea. Granted, it might not be right next to the shore - but the sweeping views of the coast to Fishguard over rooftops, fields and the ocean especially from the first floor, are surprising and engaging.
Inside, the house can offer original features - most likely from the 1920s and 1930s - and a chance for a new owner to update the interior design to suit their style.
But the sea views that are hidden from the front are not the only surprise this house is hiding - it is actually a three-storey home with a dining room, kitchen and bathroom on the ground floor, two sitting rooms on the first floor and three bedrooms on the top floor. All this space means a new owner can reconfigure the property to suit their own needs and lifestyle, with surely a few walls coming down so more of the spaces can enjoy more of the rear view?
The house with potential and coastal views is for sale with West Wales Properties, give their Cardigan branch a call on 01239 615915 to find out more.
2. Ceredigion: The county that combines coast and country in the middle part of Wales now has an average property value of £236,000.
But there are still big bargains to be found in the area, with space on offer close to the coast, if you are prepared to do some renovation work.
In the coastal town of Cardigan, this beast of a building can tempt you with three floors and five bedrooms. And it’s in the town centre - so strolling to the shops and cafes couldn’t be easier.
It’s got space, it’s got potential and it’s also got low maintenance gardens front and back.
Cardigan is the second largest town in Ceredigion and is located next to the River Teifi. The market town has history, a thriving arts and crafts scene and is not far from the coast.
This semi-detached house in the heart of the town, is for sale for offers in the region of £145,000 with John Francis. Call their Cardigan branch on 01239 300041 to find out more.
3. Anglesey: The beautiful island that crowns our beautiful country is also a beautiful place to live, with expanses of unspoilt countryside and miles of coastline – much of it quiet and unattended.
Zoopla’s figures suggest that about 38% of the properties on Anglesey have earned more money in value terms than their owners have in real monetary terms in the past year. Currently, the average property value here is £223,000.
A semi-detached house can be found in the village of Llanfachraeth, near Holyhead. And it’s also close to the village of Valley, which offers an excellent range of amenities as well as easy access to the A5 and A55.
The house can boast wonderful countryside views from the back and the nearest sandy shore is the gorgeous and aptly named Sandy Beach, popular with families due to its sweeping sands offering oodles of space.
The double-fronted house has three reception rooms on the ground floor, two of which have been joined to create a spacious kitchen diner. It also has three bedrooms and a bathroom on the first floor, which all come with incredible views.
The house is for sale for offers in the region of £175,000 with estate agent Burnell’s, call them on 01407 762165 to find out more.
4. Powys: This large chunk of mid Wales, the largest county in Wales, is full of mountains, rivers and woodland - as well as the occasional market town and village.
It is home to large areas of glorious, remote countryside. And while it has no coastline, plenty of the county borders England if you want to pop over for a change of scenery.
Zoopla’s research states that currently the county’s average property value is £230,000.
Close to the border, and the market town of Llandrindod Wells, is a pretty looking semi-detached stone house offering village life in Old Radnor.
It might look cute on the outside but inside there’s a large, open-plan space that invites light to flood in from the front and back. But a more modern open-plan space does not mean a compromise on character as this home has kept its cottage-style classic features.
Exposed stone chimney breast and a log burner are the dominating features in this cottage along with its wood flooring, Shaker-style kitchen and soft, pastel tones.
The kitchen is a very inviting space, enjoying a wall of windows looking out over the garden as well as a classic country-style stable door.
But this cottage is not necessarily all that it appears to be, as it is actually an ‘upside down’ house with two bedrooms and a bathroom on the ground floor and the lounge and the kitchen diner on the upper floor, opening out onto the garden.
And there’s a reason for that - the views from this elevated garden are delicious, a real feast for the eyes, and what better place to enjoy them than from a very well-placed garden bench.
This cottage with a view is on sale for offers over £200,000 with Chancellors, call their Kington branch on 01544 230387 to find out more.
5. Gwynedd: This pretty county can boast as being home to so many amazing Welsh locations - most of Snowdonia National Park, Llyn Peninsula and the unique Italian inspired village Portmeirion to name just a few.
According to Zoopla, the county’s average property value is £195,000.
And if space and seaside are two top aspects of your house hunt then a three-storey, four bed terrace in the coastal village of Fairbourne can say ‘yes’ to both of these requests.
A huge sand and pebble beach that stretches for about two miles as part of Barmouth Bay is within walking distance. And the namesake town of Barmouth is just a hop over the River Mawddach estuary. The village backs onto Snowdonia National Park.
This generous property is described by the estate agent as a much improved and modernised terrace house, in excellent order and refurbished to a coastal theme that connects to its seaside location.
The house has four to five bedrooms, a basement which was once used as a self-contained flat, and a private garden.
This property is on the market for a guide price of £150,000 with Morris, Marshall & Poole, call the Tywyn branch on 01654 710388 to find out more.