Two Welsh valley towns saw biggest house price increases during 2021

Two Welsh valleys towns saw the biggest house price increases across the UK in 2021, according to property website Rightmove.

House prices in Mountain Ash rose 31% to an average of £137,220 amid concerns that house price rises were pushing properties out of the reach of local buyers.

The town of Porth in the same county, Rhondda Cynon Taf, was in second place with an increase of 26% to £141,727.

Milford Haven in Pembrokeshire was at number 11 on the list with an increase in average asking price of 15%, taking the price to £170,248.

House prices grew the fastest overall in Wales this year, up 11% on average.

Another Welsh town, Holyhead, topped the list on an increase in sales, recording a jump of 58%.

Rightmove said that they had seen a big increase in house prices in areas “in a semi-rural location with gardens and views”.

Tim Bannister, Rightmove’s Director of Property Data said there has been “significant growth” in average asking prices across many areas of the country.

He continued: “Strong competition for available properties, driven by low stock and high demand, has propped up asking prices throughout the year, and agents report that having multiple bidders for available properties will continue to be a theme into at least the first half of next year, although we do expect a better balance of supply and demand during the course of 2022, and some fresh property choice for buyers.

“With so many areas reaching asking price records, homeowners might be thinking that the new year is the time to take action and move, and maximise the return for their property.

“We’re expecting a wave of new buyers early in the new year, so we’d recommend this group who might be considering coming to market speak to their local agent for advice on making a new year move.”

Agreement

The news on house prices comes after a Plaid Cymru and Labour deal in the Senedd included measures to tackle the increase in second homes.

The deal includes a commitment to taking ” immediate and radical action” to tackle the number of second homes in Wales and to make housing more affordable.

The steps include “using the planning, property and taxation systems” to cap second homes and greater powers for local authorities to increase taxes on second homes.

The agreement says that the Welsh Government will “take immediate and radical action to address the proliferation of second homes and unaffordable housing, using the planning, property and taxation systems.

“Actions being planned include a cap on the number of second and holiday homes; measures to bring more homes into common ownership; a statutory licensing scheme for holiday lets; greater powers for local authorities to charge council tax premiums and increasing taxes on second homes.”

It adds that they “will explore local authority mortgages.”

Average asking price hotspots

1. Mountain Ash, Rhondda Cynon Taff

2. Porth, Rhondda Cynon Taff

3. Kirkby, Merseyside

4. Rawmarsh, South Yorkshire

5. Methil, Fife

6. Bradley, West Yorkshire

7. Whitby, North Yorkshire

8. Tranmere, Cheshire

9. Norris Green, Merseyside

10. Sneinton, Nottinghamshire

11. Milford Haven, Pembrokeshire

12. Handsworth, Birmingham

13. Haxby, York

14. St. Ives, Cornwall

15. Stewarton, Ayrshire

16. Bacup, Lancashire

17. Little Hulton, Greater Manchester

18. Walmersley, Greater Manchester

19. Rossington, Doncaster

20. Anfield, Merseyside

Increase in number of sales agreed

1. Holyhead, Anglesey

2. Mablethorpe, Lincolnshire

3. Bartley Green, Birmingham

4. Porth, Rhondda Cynon Taff

5. Liswerry, Newport

6. Montrose, Angus

7. Ebbw Vale, Blaenau Gwent

8. Auchterarder, Perthshire

9. Old Basford, Nottinghamshire

10. Litherland, Merseyside