a day ago
- Business
- Business News Wales
Local Housebuilder Reports Strong Demand in South Wales Homes
Local Housebuilder Reports Strong Demand in South Wales Homes
During 2024, just 3,074 new properties were completed in Wales — marking a sharp fall of over 20% from the 3,894 homes completed in 2022.
This is particularly prevalent in South Wales, where constrained planning pipelines and land supply challenges continue to delay delivery.
However, despite growing pressures on the market, Barratt David Wilson Redrow South Wales has reported that demand for new homes is continuing to grow in 2025.
What's more, local authorities have recorded 4% annual growth in the region — with predictions of house prices in wider Wales outperforming the UK average over the next five years by 25.2%.
Newport, in particular, is seeing a 61% increase in first-time mortgage applications and with properties in Wales requiring a 23% lower than average deposit and mortgage in comparison to the wider UK, Wales is positioned as a desirable location for getting on to the property ladder with greater financial confidence.
Nigel Palmer, Managing Director at Barratt David Wilson Redrow South Wales, said:
'While the broader sector faces well-documented challenges, our focus remains clear — we are actively working with government, industry, housing associations and local authorities to accelerate housing delivery in Wales. Our goal is to help build thriving, inclusive communities while supporting economic growth and providing buyers with tailored financial solutions that make homeownership more achievable.
'The Welsh housing market is underpinned by strong fundamentals — affordability, location, and lifestyle. First-time buyers remain highly motivated, and we're seeing exceptional interest across our developments from buyers who recognise the long-term value of investing in South Wales.'
Central to this affordability are the incentives offered by Barratt David Wilson Redrow South Wales including Help to Buy Wales — which was extended until September 2026 to enable brand-new homes to be purchased with just a 5% deposit — and the Key Worker Deposit Contribution whereby Barratt will contribute up to £25,000 for those personnel that act as the lifeline of our communities.
Nigel continued:
'South Wales offers a unique blend of lifestyle, opportunity, and community — factors that increasingly appeal to today's buyers. We remain fully committed to ensuring that homeownership remains within reach for future generations through targeted support, meaningful incentives, and collaboration on much-needed planning reform.'
