Cardiff's house prices highest in 3 years

Cardiff’s house prices have risen at the fastest rate in over 3 years as reported by the South Wales Echo.

The average property price reached £197,819 in May for Cardiff city which is a 1.5% increase on the previous year.

The figures come from the latest house price and affordability index of more than 400,000 properties at the property website FindaProperty.com

Whilst other local estate agents were critical on whether these figures gave an accurate view of the current housing market, an analyst at FindaProperty.com, was more positive saying: “House prices in Cardiff are bouncing back after suffering a hit during the downturn. These signs of recovery have been helped along by a strengthening economy in the Welsh capital where unemployment is below the Welsh average. Asking price increases are reinforcing what we’re hearing from Cardiff estate agents, who say the city’s property market is undergoing a mild spring comeback.”

The Price rise means Cardiff has outperformed Wales in terms of the housing market by a considerable difference. Wales only increasing by 0.7% over the same given time.

You can see the full article at: WalesOnline