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Vale house prices rise quicker than rest of Wales

HOUSE prices in the Vale of Glamorgan have increased by more than twice as much as the average for Wales.

According to the Land Registry, the average house price in the the Vale is £297,314 – a 3.5 per cent increase on December.

Wales as a whole has seen house prices rise by 1.3 per cent and the UK has seen an increase of 0.4 per cent.

Property prices in the area achieved 20.8 per cent annual growth, which is the highest in Wales.

The average sale price of property in the Vale of Glamorgan rose by £51,000 in the past year.

The value of flats grew more than any other type of property, as prices increased by four per cent in the last month to £175,291.

In the past year, prices of flats in the Vale increased by 15.6 per cent, which is the lowest of all four house types.

Detached houses have grown the most annually and have increased by 24.9 per cent to reach an average of £504,517.

Semi-detached houses cost a good deal less at £302,290 average with terraced houses just behind with an average price of £232,618.

First-time buyers in the Vale of Glamorgan spent an average of £245,000 on their property which is £41,000 more than a year ago, and £75,000 more than in January 2017.

Previous buyers paid £343,000 on average in January – 39.9 per cent more than first-time buyers.

Buyers paid 44.2 per cent more than the average price in Wales (£206,000) in January for a property in the Vale of Glamorgan.

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