Wales sees highest house price rises in the UK
On St David’s Day (1st March), property data specialist, Sprift, has analysed its whole of market property data for Wales and found an average price increase of 12.8% in 2021, higher than England and Scotland.
Breaking it down further into Welsh local authorities (1), the Vale of Glamorgan has shown the highest price rises at 20.8%, with Gwynedd the lowest at 6.1% – still a significant rise.
Commenting on the findings, Matt Gilpin, CEO at Sprift, said: “There’s no doubt that Welsh property prices have been affected by the “flight to the country” that we saw due to the pandemic. The Vale of Glamorgan offers the country and coastal lifestyle many were craving, and with lower house prices in comparison to the rest of the UK, demand has fueled the rise.”
Joanne Summerfield-Talbot, director of sales at Dawsons Swansea (which saw a 15.6% rise in prices), commented: “We can report nearly a 30% increase in property transactions for 2021 compared to 2020. Covid and the ensuing lockdowns initially proved to be a major disruptor to the housing market, yet it focused people’s minds on not only where they lived, but how they lived, as we all had to adapt to a new way of working.
“Consequently, demand for property was unprecedented – the likes of which we haven’t seen since 2007. We saw a considerable increase in new applicant registrations with new properties coming to the market following suit.
“Moving into 2022, we see no signs of a let-up. The good news is buyer and seller confidence doesn’t appear to have been adversely affected by the first base rate rise in more than three years. For as long as the market has low property stock, we predict that the demand for property will continue to support a steady rise in property values.”
Sprift offers the most comprehensive source of data on UK properties. Its online dashboard, and vendor and buyer reports, help people make informed decisions – leading to a reduction in the number of deals that collapse. The dashboard provides 244 individual data points for every UK property from official and trusted sources, including: title plans, planning history, EPCs, photos, floorplans, conservation areas and flood risks, as well as the necessary legal/protocol forms.