Parts of Wales 'See UK's Biggest House Price Increase' AVERAGE COST OF HOME IN ONE COUNTY UP 13%, SAYS STUDY

Western Mail (Cardiff, Wales), December 31, 2010 | Go to article overview

Parts of Wales 'See UK's Biggest House Price Increase' AVERAGE COST OF HOME IN ONE COUNTY UP 13%, SAYS STUDY


Byline: ALED BLAKE

HOUSE prices in parts of Wales showed stronger increases than any other part of the UK in the last year, according to a study published today.

The typical cost of a home in Conwy jumped by 13% to pounds 162,691, mortgage lender Halifax said.

It was followed by East Dunbartonshire and Dumfries and Galloway, both in Scotland, which saw rises of 12% and 11%, respectively.

At the other end of the scale, Blaenau Gwent has the lowest UK house prices, at an average of pounds 86,385.

The Halifax study comes a day after the Land Registry's House Price Index for November showed an annual price increase of 2.2%, which took the average property value in England and Wales to pounds 164,773. But prices from October to November fell by 0.6%.

In Wales, the average house price stood at pounds 120,290 - a monthly decrease of 3.4% and an annual fall of 3.3%.

But North Wales estate agent Robbie Howarth disputed the Halifax research, saying sales at her agency had not been as strong in 2010, with the rental sector seeing most growth.

She said: "North Wales is a lovely place to live, but this last year has been a disaster.

"Probably year on year it's been my best year, but that's all down to rentals.

"People have to bring prices down to sell."

Llandudno Junction-based Ms Howarth said difficulties in putting together a deposit for a mortgage meant the market has been relatively stagnant, like most other parts of Wales in 2010.

She said: "People are still being very cautious, I don't think it's going to get any better soon.

"The market is being affected by mortgage availability and confidence in people losing their jobs.

"I've got properties in Conwy marina where people have bought for investment and they are now renting them out because their businesses are suffering and they need the income. …

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