Highlights From The Wales Housing Market Report Autumn 2017
By Martin Moore
The Guild of Property Professionals has produced the latest
housing market report for Wales showing trends and data for the Principality
compared with the national picture.
Over the last 12 months house values in Wales have shown an
average increase of 3.6%, slightly ahead of inflation and, a better performance
than Scotland or the North East of England but below the 4.7% growth seen in
the West Midlands.
This level of increase is exactly reflected in the Morris
Marshall and Poole region of Mid Wales where house values have also increased
by about 3.6%. Mid and North Wales counties have all recorded steady increases,
well ahead of many parts of South Wales where values are stagnating. There are however some hotspots in Wales with
property values in Pembrokeshire and Bridgend increasing by over 10%.
Rental values in Wales have also increased over the last 12
months, driven by continuous high demand from tenants but the level of increase
is lower at about 1.6%, which is actually a drop when inflation is taken into
account.
Iain McKenzie, CEO of The Guild of Property Professionals
comments on the figures. “It wouldn’t surprise me if the big deal in the
housing story was how the regions have steadily caught up with London and the
whole country became less London centric. The importance of commuting will wane
and the Internet will sever the link between home and office location for many
of us. The normal assumptions about geography will get turned on their head.”
This is an interesting thought for those of us in Mid Wales
still struggling to access reliable and fast broadband but it offers good
evidence to continue the pressure on getting the network complete.
Iain McKenzie continues, “The housing markets which make up
Wales are very different in nature, it is generally a well-balanced part of the
country in terms of demand profile so it is well insulated from the cold front
which we expect to hit the markets early next year.”
The Guild of Property Professionals is a national network
with over 800 members delivering local, regional and national property
exposure. Morris Marshall and Poole exclusively represent the Guild in Mid
Wales. If you would like an update on the value of you home call your nearest MMP branch for free help and advice.