Latest news with #WalesHousePriceIndex
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
House prices stall across West Wales
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
Man arrested after three-car crash on A40 near Haverfordwest
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
Pembrokeshire Herald
17-05-2025
- Business
- Pembrokeshire Herald
Police search Bramble Hall Farm in major operation
HOUSE prices in Pembrokeshire and Ceredigion have seen sharp fall in the first quarter of 2025. The figures have been released by Principality Building Society in its Wales House Price Index for Q1 2025 (January – March), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales. Principality's report shows that Pembrokeshire has recorded the largest annual drop in house prices in the region, decreasing by 4.8% to an average price of £238,730, though this figure is still higher than the national average. In Ceredigion house prices saw a double-digit quarterly drop of 10.1% and 3.2% annual fall to an average price of £241,321. Despite a quarterly dip of 2.3%, the report presents a positive picture for Carmarthenshire with house prices up 2.7% from last year's price to an average of £221,370. On a national level, the average price of a home sold in Wales increased to £238,413 in the first quarter of 2025, up 2.2% on the previous quarter and 4.0% higher than the same period last year. While affordability challenges remain, the steady rise in both prices and the number of transactions – which reached 10,000 in Q1 (up 20% on last year) – suggests buyer confidence is still growing, despite households continue to navigate cost-of-living pressures, an elevated rates environment and global economic uncertainty. Overall, Principality Building Society research, based on HM Land Registry data, reveals that price declines in regional areas have eased over the past three quarters compared to the same period last year, offering some signs of stability for buyers and sellers in a shifting market. Speaking about the Q1 House Price Index, Iain Mansfield, Chief Financial Officer at Principality Building Society, said: 'The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. Meanwhile, affordability remains a key factor shaping the market landscape.' A key driver of the year-on-year transaction growth could be the ongoing supply issues with the last 25 years seeing a notable decline in house building in Wales. Significant policy changes such as the extension of the Welsh Government's Help to Buy scheme, second home tax adjustments, and plans to build more affordable housing aim to combat this challenge and curb investor activity. Iain continues: 'Across Westminster and Wales, housing is high on the agenda. Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next 5 years, representing a significant shift in the UK's housing landscape. 'This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. 'Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance. Principality Building Society is dedicated to working with housing associations and other developers to deliver sustainable housing solutions for communities across Wales as part of the solution; providing affordable, quality homes.' Principality Building Society, a mutual organisation which is owned by Members, and not shareholders, aims to support and build a society of savers where everyone has a place to call home. For more information go to:
Rhyl Journal
16-05-2025
- Business
- Rhyl Journal
House price changes across North Wales revealed for 2025
The data, released by Principality Building Society in its Wales House Price Index for the first quarter of 2025, indicates that overall, house prices in Wales are stabilising. The report shows the rise and fall in house prices in each of the 22 local authorities in Wales. Three authorities in North Wales experienced increases. Anglesey and Gwynedd saw the greatest annual rise in the area, with 2.9 per cent (£256,771) and 4.9 per cent (£234,388) respectively. Denbighshire also saw a 2.5 per cent rise on its first quarter of 2024 price, reaching an average price of £213,888 in the first quarter of 2025. However, some areas reported decreases, with Flintshire recording the largest annual drop in the region, with a 2.2 per cent decline. Conwy and Wrexham also saw decreases, with a 1.3 per cent and 0.2 per cent drop respectively compared to the same period the previous year. The average price of a home sold in Wales rose to £238,413 in the first quarter of 2025, marking a 2.2 per cent increase on the previous quarter and a 4.0 per cent rise compared to the same period last year. Despite affordability challenges, the steady rise in both prices and the number of transactions – which reached 10,000 in the first quarter (up 20 per cent on last year) – suggests buyer confidence is still growing. This is despite households continuing to navigate cost-of-living pressures, an elevated rate environment, and global economic uncertainty. Iain Mansfield, chief financial officer at Principality Building Society, said: "The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. "Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. "Meanwhile, affordability remains a key factor shaping the market landscape." A key factor behind the year-on-year growth in transactions may be the ongoing supply issues, as house building in Wales has seen a marked decline over the past 25 years. Major policy changes, including the extension of the Welsh Government's Help to Buy scheme, adjustments to second home taxes and plans to increase affordable housing, are intended to address this challenge and limit investor activity. Mr Mansfield continued: "Across Westminster and Wales, housing is high on the agenda. "Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next five years, representing a significant shift in the UK's housing landscape. "This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales, signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. "Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance."
North Wales Chronicle
16-05-2025
- Business
- North Wales Chronicle
House price changes across North Wales revealed for 2025
The data, released by Principality Building Society in its Wales House Price Index for the first quarter of 2025, indicates that overall, house prices in Wales are stabilising. The report shows the rise and fall in house prices in each of the 22 local authorities in Wales. Three authorities in North Wales experienced increases. Anglesey and Gwynedd saw the greatest annual rise in the area, with 2.9 per cent (£256,771) and 4.9 per cent (£234,388) respectively. Denbighshire also saw a 2.5 per cent rise on its first quarter of 2024 price, reaching an average price of £213,888 in the first quarter of 2025. However, some areas reported decreases, with Flintshire recording the largest annual drop in the region, with a 2.2 per cent decline. Conwy and Wrexham also saw decreases, with a 1.3 per cent and 0.2 per cent drop respectively compared to the same period the previous year. The average price of a home sold in Wales rose to £238,413 in the first quarter of 2025, marking a 2.2 per cent increase on the previous quarter and a 4.0 per cent rise compared to the same period last year. Despite affordability challenges, the steady rise in both prices and the number of transactions – which reached 10,000 in the first quarter (up 20 per cent on last year) – suggests buyer confidence is still growing. This is despite households continuing to navigate cost-of-living pressures, an elevated rate environment, and global economic uncertainty. Iain Mansfield, chief financial officer at Principality Building Society, said: "The housing market in Wales has had a positive start to 2025, with prices rising quarter on quarter at their fastest pace in over two years. "Despite a challenging economic backdrop, we're seeing a year-on-year growth of transactions, spurred on by supply challenges and falling rates. "Meanwhile, affordability remains a key factor shaping the market landscape." A key factor behind the year-on-year growth in transactions may be the ongoing supply issues, as house building in Wales has seen a marked decline over the past 25 years. Major policy changes, including the extension of the Welsh Government's Help to Buy scheme, adjustments to second home taxes and plans to increase affordable housing, are intended to address this challenge and limit investor activity. Mr Mansfield continued: "Across Westminster and Wales, housing is high on the agenda. "Looking ahead, the UK Government remains publicly committed to extensive planning reforms – setting out an ambitious target to build 1.5 million homes over the next five years, representing a significant shift in the UK's housing landscape. "This, paired with the Welsh Government's Help to Buy Wales extension and additional £10 million investment allocated to kickstart housing schemes across Wales, signals a clear message that policymakers recognise the importance of housing to families and individuals across the country. "Despite external pressures such as cost of living, inflation, and global economic pressures, the housing market in Wales is moving forward in a positive direction, with increased consumer confidence and areas of strong regional performance."
