Welsh property sales rise 12% in August

Date:

Tuesday 30th October 2012

More homebuyers are taking advantage of cheaper property prices in Wales by snapping up homes across the country, the latest index suggests.

The LSL Property Services/Acadametrics Wales House Price Index reveals that residential property sales in Wales increased by 12% in August, while home prices fell marginally by £416 in August, marking the fourth consecutively monthly decline.

The average price of a house in Wales in August was £151,004, down 0.3% month-on-month. However, the fall was slower than the 0.6% decline recorded in July.

The greatest increase in prices was recorded in The Vale of Glamorgan, where values rose by 9.3%, followed by Ceredigion, up 5.6%. The biggest decline was in Torfaen, down 6.1%. Some 15 of the 22 unitary authority areas in Wales saw a decline in average prices over the year, three more than in July.

The overall fall in property prices is owed mainly to the "anaemic mortgage market" which is preventing many would-be purchasers from being able to either gain a first foot on the housing ladder or move up the property chain, according to Nigel Favas, managing Director of Reeds Rains estate agents.

However, Favas believes that despite the lack of mortgages, there is reason to believe the housing market is starting to show tentative signs of recovery.

"The market is certainly stronger than last year - prices climbed on an annual basis during most months, albeit this climb was followed by a small fall in August. The upside of lower prices is it becomes easier for first time buyers to get a foot on the ladder," said favas.

He continued: "Although mortgage finance is scarce, and the Welsh economy is weaker than its English counterpart, some solace can be found in the rising number of sales in Wales which have climbed 12% compared to July. Admittedly this reflects as much the weakness of July as it does an improvement in the market.

New Homes in Wales

Copperminers
Copperminers, Cwmavon Road, Cwmavon, Port Talbot, SA12 9HL
NOW AVAILABLE from £126,995
Situated within a beautiful valley in the picturesque village of Cwmavon, Port Talbot, Copperminers offers the ideal family environment with a...
Glas Y Dorlan
Glas Y Dorlan, Ocean View, Jersey Marine, Neath, SA10 6HR
NOW AVAILABLE from £237,000
Glas y Dorlan in Neath offers a superb range of three, four and five bedroom homes for sale in the village of Jersey Marine. Located on the point of...
Parc Tyn Y Coed
Parc Tyn Y Coed, Heol Cwrdy, Sarn, Bridgend, CF32 9NT
NOW AVAILABLE from £151,500
Parc Tyn y Coed offers an exciting range of two, three and four bedroom houses for sale in Bridgend just two minutes from J36 of the M4. Set in the...
Copper Quarter
Copper Quarter, Brunel Way, Swansea, SA1 7BP
NOW AVAILABLE from £107,500
Copper Quarter in Swansea has a superb range of one, two and three bedroom houses and apartments set in a riverside location, just minutes from...
Centurion Park
Centurion Park, Llanvair Road, Caerwent, Caldicot, NP26 5NY
NOW AVAILABLE from £358,000
Centurion Park offers beautifully designed three, four and five bedroom homes in Caerwent, a popular picturesque village in Monmouthshire. The homes...
Bryn Emrallt
Bryn Emrallt, Heol Y Mynydd, Bryn, Llanelli, SA14 9UB
NOW AVAILABLE from £127,995
Bryn Emrallt offers an impressive choice of two, three, four and five bedroom homes with all the delights of the surrounding coast and countryside on...
Castlemead
Castlemead, Ash Tree Road, Caerwent, Caldicot, NP26 5NU
NOW AVAILABLE from £272,500
Castlemead in Caerwent offers three & four bedroom homes within a friendly community setting. It really is the best of both worlds, set in an...
Belle Vue At Mon Bank, Newport
Mon Bank, East Retail Park, Newport, NP20 2NW
NOW AVAILABLE from £192,995
With beautiful 2, 3 and 4 bedroom homes from the Heritage Collection, Belle Vue at Mon Bank is an exciting new development in the heart of Newport...
Gladstone Leigh, Hawarden
Gladstone Leigh, Hawarden, Flintshire, CH53HR
NOW AVAILABLE from £309,995
Just across the Welsh border, seven miles west of Chester, Gladstone Leigh enjoys a delightful semi rural setting, yet has everything you need for...
Coed Y Felin, New Inn
Coed Y Felin, Newport Road, Pontypool, Torfaen, NP4 0NT
NOW AVAILABLE from £324,995
Coed Y Felin is an exciting new development of 3 & 4 bedroom detached homes located at New  Inn, Pontypool. This spectacular development...
Heathlands, Buckley
Heathlands, Church Road, Buckley, CH7 3AD
NOW AVAILABLE from £259,995
Our superb new Heathlands development is as welcoming as the New Heritage Collection homes being built there, with something for everybody, and...
Manor View, Trelewis
Manor View, Gelligaer Road, Treharris, Merthyr Tydfil, CF46 6DN
NOW AVAILABLE from £176,995
Situated on the outskirts of Treharris and just a stone’s throw away from Merthyr Tydfil, Manor View is an exciting new development that is...