Concern as homes in rural West Wales see double-digit prices over last year

// = do_shortcode (‘[in-content-square]’)?>
Benllech on Anglesey. Photo by Joe Hayhurst (CC BY 2.0)

House prices in rural West Wales have risen by double digits over the past year, raising concerns that more people are no longer living in their own communities.

Figures released by the Principality Building Society’s Wales House Price Index show the rise and fall of house prices in each of Wales’ 22 local authorities.

Over the past year, house prices in Carmarthenshire have increased by 14.2%, Ceredigion 10%, Gwynedd 10.3% and Anglesey 14.6%.

The Principality Building Society said the prices reflected a Covid-induced ‘space race’ as city dwellers in Wales or England sought to move to more rural areas.

Across Wales, annual house price inflation climbed to 10.1%, the first double-digit percentage increase since 2005. Swansea saw the largest price increases at 16.1%, while Monmouthshire only saw an increase of 2.9%.

‘Average house prices in Wales continue to set new records reaching £ 212,751, with annual house price inflation climbing to 10.1% in the first quarter, the first double-digit percentage increase since 2005 ”, states the Principality’s report.

“The changes inspired by the foreclosure of housing demand and the government’s policy interventions around the Land Transaction Tax (LTT) have boosted prices and activity, with sales up 40% from the previous level. same period last year.

“Prices for single, semi-detached and semi-detached houses are 10% or more above the levels of the previous year.”

Tom Denman, chief financial officer of the Principality Building Society, said the housing market rebound during the pandemic had been “stronger than some expected.”

“If this momentum continues, the strong recovery in the housing market may continue for the remainder of the year and into 2022,” he said.

‘Complex’

Yesterday the new Minister for Education and Language promised the government would tackle the housing crisis in the more Welsh regions.

Jeremy Miles said action was needed “to ensure that we have Welsh speaking communities that thrive in the future and that people can afford to live in their communities”.

At Radio Cymru’s Dewi Llwyd radio show, he confirmed that the government was considering a report by academic Simon Brooks on the second home problem.

He described it as a “complex problem”, with several different factors influencing each other – it would be necessary to look at the “full picture” to find solutions, he said.

The problem is compounded by the pandemic as thousands leave towns to live or buy vacation homes – one of the most controversial examples is a cottage in Uwchmynydd near Ynys Enlli, which is up for auction with an indicative price of £ 500,000. .

Language activists announced a protest at the Tryweryn Dam in July, calling on the government to act on housing market forces they say are undermining communities across Wales.

If Covid-19 restrictions allow, hundreds of protesters from Cymdeithas an Iaith will stand along the 600-meter dam near Bala.

The demonstration on the 10the July is slated to be filmed by drone and will be broadcast live on social media. Before this symbolic act, the crowd will be approached by Dafydd Iwan and Delyth Jewell.


Source link

About Jermaine Chase

Check Also

Dozens of homes evacuated in southern Manitoba flooding

Residents of several communities in southern Manitoba are being forced from their homes due to …

Leave a Reply

Your email address will not be published.