Penarth: House prices in the Vale increase but life satisfaction remains high

By Ellyn Wright

17th Aug 2021 | Local News

House prices in the Vale of Glamorgan have increased by over 15% annually, data has shown.

The average property in the county costs £330,396, according to Principality Building Society.

This is an increase of 15.4% from last year, and house prices reached new peaks in the Vale in the second quarter of 2021.

In the Vale of Glamorgan, on average a detached home costs £505,978, a semi-detached home £296,024, a terraced home £251,690 and a flat £182,936.

This compares to an average salary of £29,035 and an average Council Tax amount of £1,579.

Principality Building Society also measured life satisfaction based on ONS data, which came to 7.82/10 in the Vale of Glamorgan and is classed as high.

Nationally, Wales has seen the biggest increase in house prices in the UK, according to property website Rightmove.

It said there had been a 2.3% rise in the past month alone and a 10.9% increase year-on-year.

Principality Building Society reported that the average price in Wales hit a new peak of £215,810 earlier this year. Torfaen and Bridgend saw the highest sale rate at 80%.

There are signs the strong pace of increases seen around the turn of the year are beginning to slow, said Principality, with only a modest increase across the quarter of 1.4%.

This is likely a result of the Land Transaction Tax (LTT) ending in June, said the building society.

     

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