Wales's wealthiest (and poorest) housing markets
Monmouthshire wealthiest market in Wales with average property values of £224,535
Blaenau Gwent poorest market in Wales with average house prices 47% below the national average
Avg. property value in Wales now stands at £152,188, 12.6% below peak reached 3 years ago
Monmouthshire is the area with the highest average property value in Wales, according to the latest figures from leading property website, Zoopla.co.uk. The average house price in Monmouthshire is now £224,535, more than £72,000 higher than the average Welsh house price, which is currently £152,188.
In contrast, average property prices in Blaenau Gwent currently stand at £79,898, the lowest in the country, 65% less than in Monmouthshire and 47% below the national average.
The statistics released today by Zoopla.co.uk, which provides free value data on every property in Wales, reveal The Vale of Glamorgan in second place in terms of areas with the highest average house prices in Wales at £193,184, followed by Cardiff in third position at £183,923. Meanwhile, at the other end of the scale, rounding out the top three poorest housing markets in the country are Merthyr Tydfil where average property values stand at £99,685 and Rhondda Cynon Taff at £104,923.
Top 10 Wealthiest Housing Markets
Rank | Market | Avg. home value |
|---|---|---|
1 | Monmouthshire | £224,535 |
2 | The Vale of Glamorgan | £193,184 |
3 | Cardiff | £183,923 |
4 | Ceredigion | £182,959 |
5 | Powys | £174,778 |
6 | Conwy | £166,302 |
7 | Pembrokeshire | £165,139 |
8 | Isle of Anglesey | £160,666 |
9 | Flintshire | £157,903 |
10 | Gwynedd | £156,921 |
Source: Zoopla.co.uk
Top 10 Poorest Housing Markets
Rank | Market | Avg. home value |
|---|---|---|
1 | Blaenau Gwent | £79,898 |
2 | Merthyr Tydfil | £99,685 |
3 | Rhondda Cynon Taff | £104,923 |
4 | Neath Port Talbot | £110,573 |
5 | Caerphilly | £124,275 |
6 | Torfaen | £130,390 |
7 | Carmarthenshire | £140,446 |
8 | Newport | £142,225 |
9 | Bridgend | £142,479 |
10 | Denbighshire | £142,750 |
Source: Zoopla.co.uk
Given it is now almost 3 years since the housing market in Wales peaked in late 2007, Zoopla.co.uk also studied how each area has fared since the downturn began and it is clear that some markets have weathered the storm far better than others. Average property values in Wales as a whole remain 12.6% below their peak levels of 3 years ago and now stand at £152,188, representing an average loss in value of £22,013 over the past 3 years, but are up by 5% over the past 18 months from the lows reached in March 2009.
The property market in the Vale of Glamorgan has proven the most resilient in Wales with average house prices now only 6.2% below their September 2007 level. At the other end of the scale, the country's biggest loser is Blaenau Gwent where property prices remain 14.6% below their peak levels.
Conwy came in second place in terms of the most resilient housing markets with home values now only 6.3% below where they were 3 years ago, followed closely by Ceredigion (down 6.4%) and Monmouthshire (down 7.2%) since September 2007. However, Wrexham (down 14.3%), Pembrokeshire (down 14.1%), Cardiff (down 11.1%) and Neath Port Talbot (down 11%) have not fared much better than Blaenau Gwent.
Nicholas Leeming, Commercial Director of Zoopla.co.uk comments: "In terms of both current house prices and market performance over the past 3 years, it is clear that some parts of Wales have performed much better than others and, as the economy strengthens, the housing market will likely perform best in those areas least sensitive to the upcoming public sector cuts."
Top 10 Most Resilient Housing Markets
Rank | Market | Avg. home value | 3-year change (%) | 3-year change (£) |
|---|---|---|---|---|
1 | The Vale of Glamorgan | £193,184 | -6.25% | -£12,873 |
2 | Conwy | £166,302 | -6.35% | -£11,273 |
3 | Ceredigion | £182,959 | -6.37% | -£12,453 |
4 | Monmouthshire | £224,535 | -7.22% | -£17,465 |
5 | Denbighshire | £142,750 | -7.81% | -£12,087 |
6 | Carmarthenshire | £140,446 | -8.12% | -£12,414 |
7 | Merthyr Tydfil | £99,685 | -8.55% | -£9,325 |
8 | Flintshire | £157,903 | -8.57% | -£14,795 |
9 | Isle of Anglesey | £160,666 | -8.90% | -£15,696 |
10 | Caerphilly | £124,275 | -9.48% | -£13,016 |
Source: Zoopla.co.uk
Top 10 Least Resilient Housing Markets
Rank | Market | Avg. home value | 3-year change (%) | 3-year change (£) |
|---|---|---|---|---|
1 | Blaenau Gwent | £79,898 | -14.58% | -£13,637 |
2 | Wrexham | £151,989 | -14.29% | -£25,330 |
3 | Pembrokeshire | £165,139 | -14.10% | -£27,113 |
4 | Cardiff | £183,923 | -11.10% | -£22,961 |
5 | Neath Port Talbot | £110,573 | -10.98% | -£13,637 |
6 | Newport | £142,225 | -10.90% | -£17,398 |
7 | Bridgend | £142,479 | -10.53% | -£16,775 |
8 | Swansea | £147,991 | -10.17% | -£16,757 |
9 | Gwynedd | £156,921 | -9.88% | -£17,211 |
10 | Powys | £174,778 | -9.82% | -£19,029 |
Source: Zoopla.co.uk
- Ends -
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