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News & LegislationOctober 27, 2020
Regional Property Market Update Autumn 2020: West of England and South Wales
It is estimated that nearly two million people own buy-to-let property across the UK (Resolution Foundation 2019), with property being regarded as a ‘safe-haven’ asset. At 4.7% and 5.7% respectively, the gross yields on residential property across the South West and Wales are attractive.
Areas across Wales currently offer the most attractive returns, taking nine of the top 10 rankings. Blaenau Gwent is at the top offering a gross yield of 6.7%.
Average gross yields on residential property are attractive, with positive rental and house price growth
Strongest housing markets across the West of England and South Wales
Property prices in the South West were 4.3% higher year-on-year, and 2.8% higher across Wales since the housing market reopened in June. Year-on-year prices have dipped in just four areas. Activity across the UK has been brisk; nationally the average time taken to sell a property fell to 53 days in August, down from 62 days in August 2019. Sensible pricing remains crucial, as correctly priced properties are nearly twice as likely to be sold ‘subject to contract’ within four months of listing than those that have had their asking price reduced. Homes in the South West are selling, on average, 10 days quicker than a year ago.
Properties for sale in the West of England and South Wales region
This stunning three-bedroom apartment within this attractive Victorian townhouse is set in the most sought-after residential area in Clifton, within a short walk of Clifton Village. The property has a large open-plan living, kitchen and dining space, which overlooks Clifton and Clifton College playing fields.
This attractive detached dormer style family-sized bungalow boasts spacious accommodation throughout and is within Cardiff High School and Lakeside Primary School catchment and in close vicinity to the local shopping parade at Roath Park Lake. On the ground floor, there are four reception rooms, including a conservatory and the property is surrounded by attractive gardens.
Quietly tucked away within this highly desirable private road on Rodborough Common, this detached modern home enjoys a private setting overlooking the adjoining field and is just a short walk from the expansive National Trust common land. Constructed as one of the favourable 'B' types, the property is both well-proportioned and immaculately presented throughout, with the accommodation extending in all to 1,513 sq.ft.