{"id":10051,"date":"2018-01-18T12:15:39","date_gmt":"2018-01-18T12:15:39","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=10051"},"modified":"2018-01-18T12:15:39","modified_gmt":"2018-01-18T12:15:39","slug":"house-prices-wales-growing-faster-uk-average","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/house-prices-wales-growing-faster-uk-average\/","title":{"rendered":"House prices in Wales growing faster than UK average"},"content":{"rendered":"

Last year saw property prices in Wales grow by 3.3% to \u00a3179,855, and with the Severn Bridge toll fee about to be scrapped, could this be the start of the end of cheap Welsh property?<\/strong><\/p>\n

The latest report from the Principality Building Society saw UK average house prices inflate by 2.7% in 2017, with the West Midlands<\/a>, Wales and the north-west<\/a> of the country providing a major boost to the results compared to parts of London<\/a> and the south-east.<\/p>\n

In Wales, the property market was varied but Cardiff’s terraced properties proved one of the most popular buys – which is probably a result of the stamp duty changes that were brought in for first-time buyers in last year’s Autumn Budget<\/a>, abolishing the tax on properties up to the value of \u00a3300,000. Terraces in the city rose by \u00a33,000 in the final quarter of 2017, and buyers will be keen to complete transactions before Wales brings in its new land transaction tax<\/a> in April this year.<\/p>\n

Newport<\/a> is another city on the up, after the highest number of new-builds<\/a> in the country were built here as it becomes an increasingly popular place to live and invest. The city saw average house prices increase to \u00a3183,683 by the end of 2017, and the trend is likely to continue as more regeneration takes place in the area.<\/p>\n

Big changes are afoot in Wales<\/h4>\n

One huge change that many believe will push Welsh house price<\/a> up even higher, particularly in the south of the country, is the scrapping of the toll charge on the Severn Bridge<\/a>. Charges have already been dropped this month from \u00a36.70 to \u00a35.60 for cars after the bridge went into public ownership, and charges are expected to be abolished by the end of the year – although First Minister Carwn Jones thinks it should happen straight away.<\/p>\n

\n

Welcome news for businesses & commuters \u2013 although the #severnbridge<\/a> tolls should be scrapped now, not at the end of the year. https:\/\/t.co\/YIRkfWPXkF<\/a><\/p>\n

— Mark Drakeford (@PrifWeinidog) January 8, 2018<\/a><\/p><\/blockquote>\n