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House price boom: Conwy village sees average sale price jump by £80,000 - Wales


02-11-2014

Anglesey average house price also increased by more than £56,000 between 2012 and 2013  

 
Steve Lewis 

Trefiw saw the average sale price of its houses jump from £95,000 in 2012 to £175,000 in 2013 - when nine houses were sold

A village on the edge of Snowdonia has seen  the average price of  its houses increase by a whopping  84.2% - the biggest in Wales over the  last year.

According to the Land Registry,  the village of Trefriw, Conwy, population 1,000, saw the average sale  price of its houses jump from  £95,000 in 2012 to £175,000 in 2013 -  when nine houses were sold.

Trefriw is popular with walkers  and known for its woollen mills. It’s  where Llywelyn Fawr (Prince Llywelyn the Great)  ordered a hunting  lodge be built in the 12th Century.

Not far behind in the “most expensive post code” list was Llannerchymedd, Anglesey – LL71 8 –  where eight houses sold for an average of £80,000 in 2012 but 16 sold  for an average of £136,500 last year –  a 69.6% increase.

A Cardiff postcode (CF36 – Michaelston Y Fedw)  had the highest average price of all in Wales in 2013 -  £355,000 - but Trefriw with its LL27 0  post code saw the highest average  price rise in percentage terms.

Corwen (LL21 9) saw 25  houses sold for an average  of £96,500 in 2012 and 21  sold for an average of  £152,000 in 2013 – up 57.5%

Bala (LL23 7) saw 31  houses sell for an average  of £100,000 in 2012 and 35  for an average of £152,000  in 2013 - up 52%

Following in their footsteps were Betws-y-Coed,  Llangollen, Garndolbenmaen, Harlech, some parts  of Wrexham, Denbigh, Caernarfon,  Pwllheli, Colwyn Bay, Llandudno,  Ruthin and Rhyl - with a post code of  LL18 5 where a 110 homes sold for an  average of £115,000 in 2012 and a 122  sold for an average of £126,475 in 2013  - up 10%

Although the LL12 9 post code for  the Wrexham area - Caergwrle, Cefn-y-Bedd, Cymau, Gresford, Hope,  Llay, Marford, Rossett - showed that  36 houses had sold for an average of  £129,000 in 2012 and 63 sold for an  average of £160,000 in 2013 - up 24%,  the post code of LL11 3 - covering  Coedpoeth, Llandegla, Minera, Bradley, Gwersyllt, Rhosrobin, Stansty,  Brymbo, Bwlchgwyn, Cymau, Ffrith,  Gwynfryn, Tanyfron and Brynteg -  did not fare so well.

In 2012, there were a 101 homes  sold for an average price of £145,000  in LL113 with 79 properties sold for  an average price of £99,950 in 2013 - a  decrease of -31.1%

Richard Thomas, of Dafydd Hardy  estate agents, said: “The market has  improved a lot recently. These  samples are too small to point to any  ‘hot-spots’ but bring attention to the  fact that prices are rising in some  places more than others. If, one year,  you have a lot of terraced  houses selling and  the market  improving, the average prices  for medium-priced houses increases. The picture shows the  market is improving but I  don’t believe that it is because  of post codes. In Llannerchymedd, for example, everybody knows that house prices  have not increased that  much.”

Williams and Goodwin estate agent Melfyn Williams  said: “The reason we see an increase  in prices is because there has been an  increase in the number of sales - and  significantly, in the number of larger  properties going for sale in the region of £5-700,000 and over. In  places such as Trefriw where there  are a smaller number of houses, you  only need a few house sales to have  an effect on the prices.

“In 2012, we had terraced houses  selling well. However, in the last half  of last year, 2013, we had a lot more  sales in larger houses which then had  an effect all-round.”

“Now, in 2014, we are still seeing the effect of the Christmas ‘hangover’ carrying on to February. Everybody now has confidence in the market and everybody believes that prices will rise.

“We are being left a little bit in limbo with everybody ready to sell but waiting to see if prices increase. It’s a Catch 22 situation.

“From talking to other estate agents, there is a need for more houses to come on to the market at this time.

Mr Williams said: “The other factor is that the market has improved at last and is going in the right way at last. While talking to other agents over the border in England, the market there has spiralled upwards with London showing more than Chester, for example, but it’s a case of steady as we go here.

 “At the end of the day, post codes do matter but it has always been a case of location, location, location which is the most important factor. Now, people are also asking about broadband connections because it can allow them to work from home.

 “We are also lucky to live in North and Mid Wales. We have also got projects like Wylfa B which will bring a lot of jobs to Anglesey, and, like it or not, will also bring a boost to the housing market and the economy.”

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