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Regional Property Market Update Spring 2021: North West and North Wales

Regional Property Market Update Spring 2021: North West and North Wales

News & Legislation GPEA 25th February 2021

At 7.0% and 8.5% respectively, average annual price growth in Wales and the North West is significant. Growth is currently stronger than at any point since before the Global Financial Crisis, with eight areas of the North West witnessing double-digit growth. Flintshire is currently the best performing area in North Wales.

Rightmove report average asking prices fell slightly in January, but properties are selling more quickly than a year ago.

 

Annual price growth has strengthened across the UK in recent months

Spring 2021 property maket update - North West England and Wales map

 

Most active housing markets across the North West and North Wales region

Average property prices in Wales and the North West are more expensive than a year ago and activity across the market is robust. On average 3.4% of private properties are sold each year, with turnover in four areas 4% or more. Over 15,400 new homes were registered for sale during 2020, and nationally registrations have been on an upward trend since September.

First-time buyers were particularly affected by the closed housing market and the stricter mortgage lending that followed. However, buyer numbers have recovered steadily, with transactions just 2% lower year on year during the final six months of 2020 (UK Finance). The number of High Loan-to-Value (LTV) mortgage products has also increased, Moneyfacts reporting there were 169 products available at 90% LTV in January, over double the number available back in July. Lending rates remain low, the average mortgage rate the lowest in history.

 

Spring 2021 property maket update - North West England and Wales house price activity

 

VIEW THE FULL NORTH WEST & WALES REGIONAL REPORT

 

Properties for sale in the North West and North Wales

Wigton, Cumbria, 4 bedrooms

Cumbria white sage green country period home

Brookwell House is a significant period home, set in a popular village and full of character features. The accommodation comprises four reception rooms including a sitting room, study and a living room which opens up to a generous dining room. There is also a farmhouse kitchen-breakfast room, a ground floor shower room, a utility porch and a separate WC. Additionally, the property has planning permission granted to convert an attached barn room into an integral garage, if required.

 

Conwy, Wales, 5 bedrooms

Wales beautiful sunny period family house

This substantial detached residence boasts four reception rooms, five bedroom-suites, plus a self-contained one-bedroom cottage and spacious lawned gardens. This period style residence is situated in a high-profile position located between the marina village of Deganwy and the bustling seaside resort of Llandudno, known as ''The Welsh Riviera''.

 

St Helens, Merseyside, 3 bedrooms

St Helens pretty terraced cottages.

This beautiful, traditional terraced cottage boasts an abundance of living space and fabulous character features, such as exposed wooden ceiling beams, stone walls and original fireplaces. The home provides two reception rooms, a fully fitted kitchen with fitted units, premium worktops and integrated appliances, and three bedrooms. 

 

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