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Dropping house prices

Friday 20 October 2017

Average house prices in 90% of council wards in Wales are lower than 10 years ago.
The findings do not compare the value of people's homes and how that has changed over the 10 year period but the average price for all homes sold in that ward.
But in April, a new index by the Principality found the average price in Wales was now at £174,319 compared with a peak of £170,142 in October of 2007.
According to the BBC data, the average house price in St Arvans in Monmouthshire is up by 23%, the rise driven in part by the Severn bridge tolls being scrapped next year, according to local property experts.
Chepstow-based estate agent Peter Moon said the county as a whole was desirable but "interest really jumped" from Bristol and the south east when it was confirmed tolls would be axed.
"The important driving factor here is housing and jobs," he said.
"Other parts of Wales, possible employment is more of an issue and that's where there has been a drag in house prices."
In Aberdulais in 2007, the average house price was £143,000 but in 2017 the figure was £65,000 - a drop of 64%.

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