Discover how house prices have shifted in your area throughout 2024, revealing trends and insights for potential buyers and sellers.
Cardiff: The average house price in the UK has been on the rise, hitting £292,059 as of October 2024. That’s a 3.4% increase from last year, which means homes are costing about £9,670 more.
In Wales, the average property value is now £222,000, with a 4% annual increase. Flats have seen the biggest jump, up 6.2% to £149,000. Terraced houses are now at £176,000, semi-detached homes at £216,000, and detached houses have climbed 2.5%.
Interestingly, two areas in Wales are among the top five property hotspots in the UK. The Shetland Islands lead the pack with a whopping 28.2% increase, bringing the average price to £225,587.
Tewkesbury is also making waves, with house prices up 12.6% compared to last year. Bridgend and Blaenau Gwent are not far behind, with increases of 10.8% and 10.6%, respectively.
Bridgend County has seen the highest annual change, now averaging £227,000. Blaenau Gwent’s average has jumped from £126,120 to £139,435 in just a year.
However, not all areas are seeing growth. Out of 22 local authorities in Wales, 16 have reported rising prices, while six have experienced declines, with Gwynedd seeing the largest drop at 5.1%.
Across the UK, some regions, especially in London, are facing significant price drops. Kensington and Chelsea, for instance, has seen a staggering 20.3% decrease, with average prices now over £1.1 million.
Other areas in London, like the City of London and Hammersmith and Fulham, are also experiencing declines, with drops of 18.3% and 10.5%, respectively.
For those curious about their local market, there’s an interactive map available to check where prices have risen or fallen across the UK and Wales.
