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Birmingham Post
Birmingham Post
Business
Owen Hughes

Spike in rural Welsh house prices in latest property figures

Wales house prices increased by 2.7% in the year to August 2020 - with a major hike for rural counties.

The latest figures from the Land Registry have shown increases in 20 of the 22 counties of Wales.

But it was rural areas that saw the biggest spikes.

Powys saw prices surge by 6.6% over the 12 months to August to over £195,000 while Ceredigion saw an 8.8% rise to nearly £200,000.

In Gwynedd they rose 4.4% to £165,659 while in Monmouthshire there was an increase of 7.7% to £294,000.

A welcome to Wales sign near Llangua in Monmouthshire, (Ben Birchall/PA Wire)

This ties in with analysis by Rightmove that has shown a continued rush to move to smaller, more rural areas, with lockdowns and working from home fuelling an ‘exodus’ from smaller homes in busier urban areas.

The figures show searches have doubled in small towns and villages.

It has though fuelled concerns about local people being priced out of their communities.

The Land Registry report said: "Wales house prices were growing faster than UK annual rate of 2.5% in the year to August 2020."

It added: "Of all property types, semi-detached houses showed the biggest annual growth, rising by 4.3% in the year to August 2020, to £169,000. The lowest annual change of all property types was for flats and maisonettes, with a decrease of 0.1% in the year to August 2020 to £117,000."

Local authorities August 2020 August 2019 Difference
Blaenau Gwent £99,665 £95,174 4.7%
Bridgend £163,058 £158,559 2.8%
Caerphilly £146,602 £139,621 5.0%
Cardiff £217,194 £211,497 2.7%
Carmarthenshire £152,706 £149,241 2.3%
Ceredigion £199,226 £183,056 8.8%
Conwy £174,102 £170,247 2.3%
Denbighshire £159,148 £156,066 2.0%
Flintshire £175,074 £173,411 1.0%
Gwynedd £165,659 £158,673 4.4%
Isle of Anglesey £187,166 £182,334 2.7%
Merthyr Tydfil £106,880 £108,235 -1.3%
Monmouthshire £294,386 £273,382 7.7%
Neath Port Talbot £126,900 £121,174 4.7%
Newport £192,971 £185,941 3.8%
Pembrokeshire £185,454 £177,639 4.4%
Powys £195,315 £183,229 6.6%
Rhondda Cynon Taf £115,708 £117,287 -1.3%
Swansea £156,099 £150,861 3.5%
Torfaen £153,126 £150,379 1.8%
Vale of Glamorgan £239,766 £235,186 1.9%
Wrexham £163,328 £160,923 1.5%
Wales £172,828 £168,215 2.7%
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