A Guide To Property Prices For New Homes In Wales

The current economic climate in the UK has had a knock-on effect on property prices around the country. With more people being out of work and facing job cuts, especially in the public sector the property market has been facing a future of uncertainty.

For those looking for a new home in Wales, it's worth being aware that the property prices in Wales have been fluctuating since 2010, with an average increase in prices for a new home in Wales at 0.5 percent. Although reports have been that Wales has seen a huge 108 percent increase in property prices over the last ten years since 2000, prices have still fluctuated during the past year between -3.4 percent and +2.9%.

There have also been two key areas that have bucked the trend of property prices for new homes in Wales with price increases during 2010. These locations were Llanelli with a rise of 7.9% and Cardiff with a rise of 3.6%. A reason for this is because the recession hasn't bitten as hard in these areas as in other parts of Wales. There are many workers in Wales employed in public sector jobs; however the number of job cuts and unemployment in Cardiff hasn't been as severe as the rest of the country. If you are thinking of buying a new home in Wales, especially in Cardiff and Llanelli, it is worth considering the price increase in these areas compared to the rest of Wales.

Another reason why the Cardiff property market remains buoyant is the accessibility of Cardiff to the rest of the UK and the strong economy in the city. Buy-to-let property demands to cater for students who attend Cardiff University have also helped to maintain demand for new homes.

Wales, as well as seeing price rises in certain areas, has also experienced large losses in house property values, particularly in Newport and Swansea. There are significant amounts of workers in Wales who are employed by the public sector.5% and Newport a decrease in property values of 4.5%.

For potential buyers, looking at new developments in Wales could be a really good option as they are often offered to market with a range of deals and incentives attached to the asking price. Some of the new developments in Wales have been built in countryside areas, however still maintaining good access to main road routes and the M4 motorway. These types of new homes also offer a peaceful, village lifestyle with local shops, schools and facilities for families who want to move to Wales.