The most and least expensive houses sold in Wales in the first three months of 2021

With the Welsh property market currently operating at a level of intensity not seen by many estate agents for many years, it’s interesting to see the type of high end properties that have been sold across our nation within the first three months of 2021.

Most property professionals, buyers and sellers would agree that the coronavirus pandemic has not only sped up the market, with people deciding to move now rather than wait adding to the flurry of activity, priorities have changed too.

Gardens, office space, more space, more community, more connection to the outdoors, the panicked desire to even get onto the property ladder are all factors that have resulted in no price-bracket not being affected.

Combined with the freeze in stamp duty fees until the end of June 2021 for properties valued under £250,000 in Wales, the market at the moment is scorching hot in some areas.

And the statistics for the UK as a whole support the narrative being spoken by anyone involved in the industry.

Average house prices across the UK increased by 8.6% over the year to February 2021, up from 8.0% in January 2021 – the highest annual growth rate the UK has seen since October 2014, according to figures from the Office for National Statistics.

Between the beginning of 2016 and the end of 2019, there was a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England.

The start of 2020 saw a pick-up in annual growth in the housing market before the coronavirus restrictions were put in place at the end of March 2020 and people had time, lots of time, to think about where they live, how they live and what they want and need from their home.

With the property market speeding up to record levels in some areas of Wales, some places have seen a 10-12% increase in average property value over the last 12 months, according to property portal Zoopla.

The 10 most expensive homes that found a new owner between January and March 2021 includes some of those pockets of high demand, from a sea view Gower home to three houses in Cardiff’s in prime positions.

Number 8 of 10 …Mumbles, Swansea

It’s no surprise to see the popular coastal town of Mumbles on the list, the gateway to Gower Peninsula, the location can boast sea views, access to Swansea, and access to all that this area of outstanding natural beauty can offer. 

No-one living in or around the town should have been too surprised then to find that in November 2020 the community was named as Britain’s top coastal price hotspot for the increase in average property price – beating popular seaside locations such as Cornwall, East Sussex, Kent, Lincolnshire, Norfolk and even Sandbanks in Dorset.

In a top 10 list compiled by property portal Rightmove, Mumbles’ average property asking price has risen by 47% since 2015, which is a bigger five-year increase than any other coastal area in Great Britain.

A detached house on Langland Road, a popular street in the town groaning with a range of pretty, mainly period properties, sold in January for £902,500.