Local newsRecent Post

Vale of Glamorgan house prices rise amid property boom in region

HOUSE prices increased by 1.4 per cent in the Vale of Glamorgan in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 19.9 per cent annual growth.

The average the Vale of Glamorgan house price in June was £272,137, Land Registry figures show – a 1.4 per cent increase on May.

Over the month across Wales prices increased 4.6 percent, and the Vale of Glamorgan underperformed compared to the 4.5 per cent rise for the UK as a whole.

More News

Barry man devastated after Port Road East trees cut down

Penarth & Barry parkruns return after 17 months

Tribute paid to Barry legend Robbie Eves ahead of funeral

Over the last year, the average sale price of property in the Vale of Glamorgan rose by £45,000 – putting the area seventh among Wales’s 22 local authorities for annual growth.

The best annual growth in the region was in Blaenau Gwent, where property prices increased on average by 24.1 per cent, to £115,000. At the other end of the scale, properties in Newport gained 3.6 per cent in value, giving an average price of £198,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in the Vale of Glamorgan in June – they increased 1.5 per cent, to £215,240 on average. Over the last year, prices rose by 20.5 per cent.

Among other types of property:

Detached: up 1.3 per cent monthly; up 21.7 per cent annually; £451,687 average

Semi-detached: up 1.2 per cent monthly; up 18.8 per cent annually; £275,596 average

Flats: up 1.4 per cent monthly; up 16.7 per cent annually; £165,775 average

First steps on the property ladder

First-time buyers in the Vale of Glamorgan spent an average of £226,000 on their property – £37,000 more than a year ago, and £57,000 more than in June 2016.

By comparison, former owner-occupiers paid £312,000 on average in June – 37.9 per cent more than first-time buyers.

How do property prices in the Vale of Glamorgan compare?

Buyers paid 39.3 per cent more than the average price in Wales (£195,000) in June for a property in the Vale of Glamorgan. Across Wales, property prices are higher than those across the UK, where the average cost £266,000.

The most expensive properties in Wales were in Monmouthshire – £292,000 on average, and 7 per cent in the Vale of Glamorgan. Monmouthshire properties cost 2.5 times as much as homes in Blaenau Gwent (£115,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Factfile

Average property price in June

The Vale of Glamorgan: £272,137

Wales: £195,291

UK: £265,668

Annual growth to June

The Vale of Glamorgan: +19.9 per cent

Wales: +16.7 per cent

UK: +13.2 per cent

Best and worst annual growth in Wales

Blaenau Gwent: +24.1 per cent

Newport: +3.6 per cent

Source link

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.