Regional Property Market Update Summer 2021: West of England and South Wales
2021 is set to be one of the busiest sales years in over a decade
Agents report the sales to stock ratios across the South West and Wales are at a record high (RICS). Across the West of England and South Wales the annual rate of housing stock turnover is 3.2%. The most active markets are currently Cotswold and Tewkesbury.
Price growth strengthens
Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK.
Year-on-year price growth across the South West and Wales is substantially stronger than the 2.5% and 4.5% respectively recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in eleven local areas across the West of England and South Wales region.
A seller’s market
Market activity is fast-paced. According to Rightmove, the average time taken to sell a property is 43 days in the South West, 49 days in Wales. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.
Properties for sale in the West of England and South Wales
Margate, Kent, 5 bedrooms
This Grade II Listed Former Chapel has been sympathetically restored while retaining all of its heritage and period features including vaulted ceilings, stained glass windows and an array of beautiful architectural features throughout. This property is located within easy reach of not only the beach, but also Margate Train Station, so has great transport links into London.
Cyncoed, Cardiff, 4 bedrooms
This handsome, double fronted detached family residence, retaining charm and character, is set on a rare double plot of just over half an acre of delightful lawned gardens. Key features include a grand reception hall, herringbone oak woodblock flooring, a bay fronted lounge, a spacious dining room and a large kitchen/breakfast room.
Clifton, Bristol, 5 bedrooms
This beautifully presented Grade II Listed townhouse is superbly located in Clifton Village, offering stunning outlooks over Christchurch Green to the front and over Bristol, and out to Dundry Hill to the rear. The home features five bedrooms, four bathrooms, four reception rooms, an integral double garage, a roof terrace and a south-facing terrace garden.
Contact us
Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.
