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House price growth in some Welsh cities are currently outstripping most English cities, with the exception of the South East, led by gains in Cardiff and Swansea, the latest figures show. Fresh Land Registry figures reveal that Cardiff and Swansea have seen house prices soar over the past 12 months, putting them among the top cities in England and Wales for increasing home prices. Between June 2014 and June this year, the average sale price for a detached house in Cardiff rose from £253,019 to £267,049. In percentage terms, the biggest gains were seen in Swansea, with prices up from £167,045 to £176,555, supported in part by large-scale regeneration schemes in the city.
By contrast, house price growth in Birmingham, Leeds, Newcastle and Liverpool was less than half that achieved in Cardiff and Swansea. Property price growth in Welsh cities was, however, outstripped by London house price gains and other major cities in the south of England, including Brighton and Bristol. London saw average detached prices surge to £849,653 – significantly higher than any other part of the country. Of the 20 biggest cities in England and Wales, the slowest growth was in Sunderland Stoke-on-Trent. The average price of a detached house in Stoke is now £132,931 – but it still beats Bradford, where the price of a detached house actually fell last year, from £209,631 to £207,226 |
