Latest news with #WalesHousePriceIndex
Yahoo
2 days ago
- Business
- Yahoo
House prices go up in one county with more increases expected across region
House prices in one North Wales county have increased with further rises across the region expected. Latest industry figures show they have risen in Flintshire, going up by 3.3% in the second quarter of 2025, to an average price of £238,455. The figures have been released from Principality Building Society's Wales House Price Index for Q2 2025 (April to June), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Wales' largest building society's report also shows that there was also a 5.2% annual increase in average house prices in Flintshire, from the second quarter in 2024, where an average property cost £226,622. In the first quarter of 2025, an average property in Flintshire cost £230,902 - an increase in the second quarter of £7,553. Join the North Wales Live Whatsapp community now READ MORE: This giant seawall will be transformed at North Wales seaside resort READ MORE: Holidaymakers vow never to return after problems at North Wales caravan park The average price of a home sold in Wales was £238,098 in the second quarter of 2025, showing a 0.7% increase from the same period last year and just 4.6% below its peak of £249,000 at the end of 2022. Despite ongoing affordability pressures, the steady rise in the number of transactions - which reached over 10,000 in the second quarter (up 13% on last year) - suggests growing buyer confidence despite persistent cost-of-living challenges and elevated rates. Speaking about the Q2 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales continued to stabilise in the second quarter of 2025, with prices holding broadly flat compared to the start of the year. Encouragingly, the steady increase in transaction volumes signals increasing confidence among buyers. "While market conditions remain challenging, a downward trend in mortgage rates is helping to create a more favourable environment for buyers. This shift is contributing to a gradual uplift in consumer confidence as we move into the second half of 2025.' According to analysis of HM Land Registry data, there were over 10,000 property transactions in Wales during the second quarter. This marks a 13% rise compared to the same period last year, reflecting a trend in year-on-year recovery in property sales. Flintshire saw higher prices than neighbouring counties Conwy and Denbighshire, which both saw slight drops in average house prices for the second quarter this year. Conwy saw a fall of 1.7%, to £231,282, while Denbighshire's figures fell slightly to £219,004. However, Wrexham saw a slight increase, on the quarter, with an average price of £217,998 - an increase of 0.2% annually. Iain added: 'As a business, we remain focused on being part of the solution when it comes to the demand pressures within the Welsh housing market. As of this year, we're proud to support 19 of 32 housing associations in Wales - aiming to remove barriers to help support everyone to have a place to call home. "As the report demonstrates, price growth has eased this quarter. Looking ahead, we expect the market to gain momentum. A significant factor will be improving affordability which goes hand in hand with consumer confidence increasing - especially for first-time buyers. (This is) driven by falling interest rates and more favourable mortgage terms, likely boosting demand. "With demand rising and supply remaining a challenge for buyers across the country, we anticipate renewed market activity in the second half of the year.'
North Wales Live
2 days ago
- Business
- North Wales Live
House prices go up in one county with more increases expected across region
House prices in one North Wales county have increased with further rises across the region expected. Latest industry figures show they have risen in Flintshire, going up by 3.3% in the second quarter of 2025, to an average price of £238,455. The figures have been released from Principality Building Society's Wales House Price Index for Q2 2025 (April to June), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Wales' largest building society's report also shows that there was also a 5.2% annual increase in average house prices in Flintshire, from the second quarter in 2024, where an average property cost £226,622. In the first quarter of 2025, an average property in Flintshire cost £230,902 - an increase in the second quarter of £7,553. Join the North Wales Live Whatsapp community now The average price of a home sold in Wales was £238,098 in the second quarter of 2025, showing a 0.7% increase from the same period last year and just 4.6% below its peak of £249,000 at the end of 2022. Despite ongoing affordability pressures, the steady rise in the number of transactions - which reached over 10,000 in the second quarter (up 13% on last year) - suggests growing buyer confidence despite persistent cost-of-living challenges and elevated rates. Speaking about the Q2 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales continued to stabilise in the second quarter of 2025, with prices holding broadly flat compared to the start of the year. Encouragingly, the steady increase in transaction volumes signals increasing confidence among buyers. "While market conditions remain challenging, a downward trend in mortgage rates is helping to create a more favourable environment for buyers. This shift is contributing to a gradual uplift in consumer confidence as we move into the second half of 2025.' According to analysis of HM Land Registry data, there were over 10,000 property transactions in Wales during the second quarter. This marks a 13% rise compared to the same period last year, reflecting a trend in year-on-year recovery in property sales. Flintshire saw higher prices than neighbouring counties Conwy and Denbighshire, which both saw slight drops in average house prices for the second quarter this year. Conwy saw a fall of 1.7%, to £231,282, while Denbighshire's figures fell slightly to £219,004. However, Wrexham saw a slight increase, on the quarter, with an average price of £217,998 - an increase of 0.2% annually. Iain added: 'As a business, we remain focused on being part of the solution when it comes to the demand pressures within the Welsh housing market. As of this year, we're proud to support 19 of 32 housing associations in Wales - aiming to remove barriers to help support everyone to have a place to call home. "As the report demonstrates, price growth has eased this quarter. Looking ahead, we expect the market to gain momentum. A significant factor will be improving affordability which goes hand in hand with consumer confidence increasing - especially for first-time buyers. (This is) driven by falling interest rates and more favourable mortgage terms, likely boosting demand. "With demand rising and supply remaining a challenge for buyers across the country, we anticipate renewed market activity in the second half of the year.'
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
House prices stall across West Wales
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
Man arrested after three-car crash on A40 near Haverfordwest
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
Police search Bramble Hall Farm in major operation
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
