House Prices Are Rising At More Than 100 a day

House Prices Are Rising At More Than 100 a day

Published 1st June By Claire Fenton
minute read

The result of the Covid-19 pandemic on the Welsh housing market has been substantial, with every month data from financial companies, property portals and the Office for National Statistics (ONS) revealing a record high in the average house prices in Wales.

Widening to a UK perspective, the period during and post-pandemic even saw the rare event of a 'full house' not seen since 2007- when all regions of Great Britain and Northern Ireland saw a percentage increase. Find out more about that here.

Property portal Rightmove has put this pandemic 'buying frenzy' down to potential buyers' fear of missing out in the current competitive market, which is said to be fuelled by rising activity from both buyers and sellers and the continuing shortage of available stock.

Rightmove states that the 2022 property market across the UK continues to set new milestones for price and activity levels. The property portal reported in April 2022 that the price of property coming to market hit a new record UK high for the third consecutive month from January to March 2022.

Described as a 'spring market frenzy', Rightmove stated that Wales was, once again, at the top of the regional list.

This statement that Wales, as a region, is still the hottest spot in the UK for increasing house prices has also continually been made by the Office for National Statistics (ONS).

Data released in May 2022 by the ONS covering the year March 2021 to March 2022 indicated that the average house price in Wales has increased by 11.7% to the record high of £206,395. Calculations by Wales Online using the price change between the average price in March 2021 to March 2022 has revealed the daily increase in the average house price in each Welsh county.

The daily house price increase calculated is for the county as a whole, obviously, there are areas within each county where the figure might be higher or lower than the increase stated, and in some areas within a county the average house price might even have fallen during the 12 month period to March 2022.

1. Vale of Glamorgan

Upper Porthkerry Farm near Rhoose, Vale of Glamorgan for sale with estate agent Mr and Mrs Clarke with a guide price of £1.25m
Upper Porthkerry Farm near Rhoose, Vale of Glamorgan for sale with estate agent Mr and Mrs Clarke with a guide price of £1.25m (Image: Andy Stoyle of ALS Photography /Mr and Mrs Clarke estate agents)

The average house price in Vale of Glamorgan rose by 24.3% in the year to March, according to latest figures from the Office for National Statistics. That was an increase from £251,871 to £313,180 in a year - meaning, on average, house prices have grown by £61,309, or the equivalent of £168 a day.

2. Monmouthshire

The Cedars estate near Llanbadoc, Usk Valley for sale for £3m with Fine and Country Newport and Usk
The Cedars estate near Llanbadoc, Usk Valley for sale for £3m with Fine and Country Newport and Usk (Image: Fine & Country Newport and Usk)

In Monmouthshire, prices are up £43,107, or an average of £118 a day. House prices in the area have seen a 14.4% rise in the year to March, going from £299,118 to £342,225.

3. Cere digion

Cottage for sale near Llanon, Ceredigion for 295k with Aled Ellis & Co Aberystwyth
Cottage for sale near Llanon, Ceredigion for 295k with Aled Ellis & Co Aberystwyth (Image: Aled Ellis & Co Aberystwyth)

There’s also been a 17.8% rise in house prices in Ceredigion, or a £37,274 increase over the year (£102 per day). The average home now costs £247,001, compared to £209,727 a year before.

4. Powys

This mid-Wales county experienced over the year to March 2022 a 15.6% increase in average house prices from £210,510 to £243,443, equivalent to an average rise of £90 per day, or £32,933 over the period.

5. Carmarthenshire

This county has seen a £30,654 rise over the 12-month span of the data, from £170,219 to £200,873, which works out as a daily average rise of £84, 18% over the year.

6. Pembrokeshire

Cottage overlooking St David's Cathedral on goat street for sale with guide price if 545k with JJ Morris, Fishguard
Cottage overlooking St David's Cathedral on goat street for sale with guide price if 545k with JJ Morris, Fishguard (Image: JJ Morris Fishguard / rightmove)

Carmarthenshire's west Wales neighbour has a close daily average of £82, with the year-on-year average house price rising from £199,970 to £229,882, equating to a 15% increase of £29,912.

7. Gwynedd

Grade II listed Georgian mansion in Dolgellau for sale for 875k with Fine & Country West Wales and Ceredigion
Grade II listed Georgian mansion in Dolgellau for sale for 875k with Fine & Country West Wales and Ceredigion (Image: Fine & Country West Wales and Ceredigion)

In this coastal county that includes Snowdonia National Park, the annual rise was £28,486 from £179,909 to £208,395, resulting in a daily average increase of £78, or 15.8% over the year.

8. Conwy

Country home near Abergele for sale with a guide price of 550k with Savills, Chester
Country home near Abergele for sale with a guide price of 550k with Savills, Chester (Image: Savills Chester / onthemarket.com)

Further along the north Wales coast from neighbour Gwynedd Conwy has seen a £24,205 average house price rise (13.3%) within the time frame stated from £182,080 to £206,285. This rise has produced a calculation of a £66 daily average rise.

9. Merthyr Tydfil

First entry into the list for one of the south Wales valleys counties, Merthyr Tydfil recorded a daily average rise of homes in the area of £66, with the annual increase going from £121,343 to £145,269, an increase of 19.7%, £23,926 in monetary terms.

10. Isle of Anglesey

Hop over the waters of the Menai Strait to find a £65 daily average increase from £203,657 to £227,506 within the 12 month period stated. On an annual basis that is 11.7% and £23,849.

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11. Newport

In the county of Newport, prices are up £23,753, or an average of £65 a day. House prices in the area have seen a 11.7% rise in the year to March, going from £202,690 to £226,443.

12. Wrexham

The county of Wrexham has experienced during the 12 months that the data pertains to a 12.8% rise equating to £22,530 over the year, that's £62 per day average, with prices rising from £175,654 to £198,184.

13. Neath Port Talbot

The average house price in Neath Port Talbot rose by 16.4% in the year to March. That was an increase from £130,879 to £152,384 in a year - meaning, on average, house prices have grown by £21,505, or the equivalent of £59 a day.

14. Cardiff

Cardiff bungalow for sale with guide price of £140,000 with Mr Homes Sales and Lettings, Cardiff
Cardiff bungalow for sale with guide price of £140,000 with Mr Homes Sales and Lettings, Cardiff (Image: Mr Homes Sales and Lettings, Cardiff / rightmove)

Houses prices rose by £21,236 in the capital city according to the year-on-year ONS figures, that's a 9.3% rise from £227,722 to £248,958 that breaks down to a daily figure of £58.

15. Torfaen

If you were looking to secure a home in this county in the year to March 2022, every day you waited may have cost you £57 based on the 12.7% rise of the average house price from £164,179 to £185,046, with houses costing £20,867 more, on average at the end of the year than at the beginning.

16. Blaenau Gwent

In this county the average house price saw a rise of £20,743 over the year, meaning needing to find an extra 19.8% of your budget as the prices rose from an average of £104,879 to £125,622, equivalent to £57 per day.

17. Caerphilly

House prices here rose by an average of £55 a day from £154,035 to £174,261, that's calculated as a £20,226 overall rise, or 13.1 per cent.

18. Flintshire

Grade II cottage as part of the historic Downing Estate, Whitford near Holywell in Flintshire for sale for £1.25m with Currans Unique Homes
Grade II cottage as part of the historic Downing Estate, Whitford near Holywell in Flintshire for sale for £1.25m with Currans Unique Homes (Image: Currans Unique Homes, Chester / Adrian Little)

Pause for a day in Flintshire and it may have set you back another £53 during the year to March 2022, with the average house prices increasing from £183,970 to £203,354, a £19,384 increase.

19. Swansea

This coastal city saw an 11.4% increase in average house prices across the year that spans the ONS data, with average house prices rising by an average of £52 a day from £166,612 to £185,560, a yearly increase of £18,948.

20. Bridgend

Melin Pontrhydycff for sale for £595,000 with Herbert R Thomas estate agents, Bridgend
Melin Pontrhydycff for sale for £595,000 with Herbert R Thomas estate agents, Bridgend (Image: Herbert R Thomas estate agents, Bridgend branch)

A 9.8% annual rise in average house prices from £173,699 to £190,691 in the county of Bridgend saw a £47 daily average increase that equates to £16,992 across the year.

21. Rhondda Cynon Taf

Buying in this valleys county in the year being analysed and the daily rate was against you by an average of £41 rise per day, that's £14,808 over the year and an average increase of the average house price from £130,503 to £145,311, or 11.3 in percentage terms.

22. Denbighshire

Last but definitely not least, as this county saw a £14,199 rise in average house prices from £179,024 to £193,223, that's 7.9% more budget to find by the end of the year to March 2022, or £39 per day in monetary terms.

Average daily house price rise for each Welsh county March 2021 - March 2022 (ONS data)

Vale of Glamorgan: £168

Monmouthshire: £118

Ceredigion: £102

Powys: £90

Carmarthenshire: £84

Pembrokeshire: £82

Gwynedd: £78

Conwy: £66

Merthyr Tydfil: £66

Isle of Anglesey: £65

Newport: £65

Wrexham: £62

Neath Port Talbot: £59

Cardiff: £58

Torfaen: £57

Blaenau Gwent: £57

Caerphilly: £55

Flintshire: £53

Swansea: £52

Bridgend: £47

Rhondda Cynon Taf: £41

Denbighshire: £39

Property experts currently appear to be predicting a slight slowing down of the galloping monthly increases in house prices but that the continuing lack of supply of properties will keep the market buoyant.

Nathan Emerson, ceo of Propertymark, which represents estate agents, said: “The year-on-year increase shows there is still plenty of momentum within the housing market, however, we are now seeing some signs of things starting to cool.

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