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Wales Property Market 2016

Story Highlights

  • Wales had total property sales of £8.67 Billions in 2016
  • Total Sales By Principal Area was maximum in Cardiff at £1.5 Billions
  • The total number of properties sold in 2016 was 47,959 properties
  • The average sales price in Wales was £181 K, whereas median was £145 K
  • The average sales price in Wales at Principal Area level was max for Monmouthshire £276 K
  • New Property sales were 7.28% by value, whereas Not New Property contributed 92.72%
  • Stamp duty hike caused monthly spike in March
  • Brexit coupled with Stamp Duty Hike did not have negative impact on Wales property Market 2016.

 

 

Total Sales By County

Wales - Total Sales By County

Wales had total property sales of £8.67 Billions. It contributed 2.92% of the England and Wales Property Market 2016

The split of £8.67 Billions across its principal areas is as below :

  • Cardiff £1.5 Billion (17.35%)
  • Swansea £637 millions (7.34%)
  • Vale Of Glamorgan £577 millions (6.65%)
  • NewPort £499 millions (5.76%)
  • Flintshire £463 millions (5.33%)
  • Rhondda Cynon Taff £456 millions (5.25%)
  • Monmouthshire £452 millions (5.21%)
  • Carmarthenshire £444 millions (5.13%)
  • Conwy £381 millions (4.4%)
  • Powys £359 millions (4.14%)
  • Gwynedd £358 millions (4.13%)
  • Bridgend £354 millions (4.08%)
  • Pembrokeshire £346 millions (3.99%)
  • Caerphilly £340 millions (3.92%)
  • Wrexham £305 millions (3.52%)
  • Neath Port Talbot £236 millions (2.72%)
  • Denbighshire £227 millions (2.62%)
  • Isle Of Anglesey £196 millions (2.26%)
  • Ceredigion £188 millions (2.16%)
  • Torfaen £167 millions (1.92%)
  • Merthyr Tydfil £94 millions (1.08%)
  • Blaenau Gwent £90 millions (1.04%)

Year on Year Comparison : Compared to Wales Property Market All Principal Areas 2015 in 2016

 

 

 

Total Value of Sales By Property Types

Wales - Total Value of Sales By Property Types

The total sales value of £8.67 billion split by property types in Wales 2016 was:

  • Detached £3.38 billions (38.94%)
  • Semi-Detached £2 billions (23.08%)
  • Terraced £1.86 billions (21.42%)
  • Other £949 millions (10.94%)
  • Flat/Maisonette £487 millions (5.62%)

Year on Year Comparison : Compared to Wales Property Market 2015 in 2016

  • All the property types sales have shown growth over 2015

 

 

 

Month-wise Break-up of Total Sales

Wales - Month-wise Break-up of Total Sales

 

Some of the insights based on the £8.67 billion month-wise break-down :

Stamp Duty Hike Impact

  1. March had property sale spike of £1.11 billions compared to £603 millions in Feb
  2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

  1. Brexit took place on 23rd June 2016.
  2. As can be observed from the month-wise break-up there does not seem to have been dip in property sales in the immediate aftermath of Brexit 
  3. Year on Year growth has been 3.58% so there was no negative Brexit Impact

 

 

 

Total Number of Sales By Property Types

Wales - Total Number of Sales By Property Types

The total number of property transactions in Wales 2016 was 47,959

  • Terraced 15,290 (31.88%)
  • Detached 13,695 (28.56%)
  • Semi-Detached 13,183 (27.49%)
  • Flat/Maisonette 3,896 (8.12%)
  • Other 1,895 (3.95%)

Year on Year Comparison : Compared to Wales Property Market 2015  in 2016 

  • All property types had growth in number of properties sold
  • Other had significant growth of 139%

 

 

 

Average & Median Sales Price 

Wales - Average & Median Sales Price

The average sales price in Wales was £181 K. For the different property types it was:

  • Detached at £247 K
  • Semi-Detached at £152 K
  • Terraced at £122 K
  • Flat/Maisonette at £125 K
  • Other it is at £501 K

The median sales price in Wales was £145 K. For the different property types it was:

  • Detached at £220 K
  • Semi-Detached at £138 K
  • Terraced at £108 K
  • Flat/Maisonette at £114 K
  • Other it is at £168 K

Year on Year Comparison : Compared to Wales Property Market 2015  in 2016 

  • All property type had increase in average and median sales price except Other

 

 

 

Average & Median Sales Price By County

Wales - Average Sales Price By County

The average sales price by county in Wales by Principal Areas in 2016 was: 

  • Monmouthshire £276 K
  • Cardiff £255 K
  • Vale Of Glamorgan £232 K
  • Ceredigion £204 K
  • Powys £193 K
  • Flintshire £190 K 
  • Pembrokeshire £187 K
  • Gwynedd £186 K
  • Isle Of Anglesey £186 K
  • Wrexham £179 K
  • Swansea £177 K
  • NewPort £177 K
  • Conwy £173 K
  • Denbighshire £162 K
  • Bridgend £156 K
  • Carmarthenshire £154 K 
  • Torafen £142 K
  • Caerphilly £139 K
  • Rhondda Cynon Taff £123 K  
  • Neath Port Talbot £120 K
  • Merthyr Tydfil £112 K
  • Blaenau Gwent £105 K 

Wales - Median Sales Price By County

 The median sales price by county in Wales by Principal Areas in 2016 was:

  • Monmouthshire £215 K
  • Vale Of Glamorgan £190 K
  • Cardiff £180 K
  • Ceredigion £175 K
  • Powys £165 K
  • Pembrokeshire £160 K
  • Isle Of Anglesey £160 K
  • Flintshire £153 K 
  • NewPort £147 K
  • Conwy £146 K
  • Gwynedd £145 K
  • Bridgend £140 K
  • Wrexham £140 K
  • Swansea £135 K
  • Denbighshire £135 K
  • Carmarthenshire £130 K 
  • Torafen £125 K
  • Caerphilly £119 K
  • Neath Port Talbot £100 K
  • Rhondda Cynon Taff £100 K  
  • Merthyr Tydfil £85 K
  • Blaenau Gwent £79 K

Year on Year Comparison : Compared to Wales Property Market All Principal Areas 2015 in 2016

  • Average Sales Price has gone up except for Vale Of Glamorgan, Pembrokeshire, Swansea,Neath Port Talbot,Merthyr Tydfil
  • Median Sales price has gone up except for Pembrokeshire, Neath Port Talbot, Rhondda Cynon Taff, Merthyr Tydfil

 

 

 

New Vs Not New Property Statistics

Wales - New Vs Not New Property Statistics

By Sales Value

  • Sales value contributed by New Property was £631 millions (7.28%)
  • Not New Property contributed £8.04 billions (92.72%).

By Number Of Sales

  • New Properties sold were 3,060 (6.38%)
  • Not New Properties sold were 44,899 (93.62%) 

Year on Year Comparison : Compared to Wales Property Market 2015

  • New property market share in property market has gone down in 2016 over 2015

 

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