Market Movement
Average house prices in Wales increased by 1.3% (provisional estimate) in the 12 months to March 2024. This was up from a decrease of 0.7% (revised estimate) in the 12 months to February 2024 and was slower than the average UK house price annual inflation of 1.8% (provisional estimate) in the 12 months to March 2024.
On a non-seasonally adjusted basis, average house prices in Wales increased by 0.9% between February 2024 and March 2024, compared with a decrease of 1.1% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Wales increased by 0.8% between February 2024 and March 2024.
Comparing the provisional UK HPI volume estimate for January 2023 with the provisional UK HPI estimate for January 2024, the volume of transactions decreased by 48.0% in Wales and decreased by 38.2% in the UK.
In Wales, 11 of the 22 local authority areas showed an increase in average house prices in the 12 months to March 2024. Ceredigion showed the highest annual percentage change, rising by 4.0% to £244,000 in the 12 months to March 2024. In contrast, Merthyr Tydfil showed the lowest annual percentage change, decreasing by 13.7% to £131,000 in the 12 months to March 2024. (source – Land Registry)
Bank of England Base Rate %
The Bank of England is expected to hold the base interest rate at 4.25% this week after voting narrowly for a cut last month.
Uncertainty created by US President Donald Trump’s tariffs and a surge in the latest inflation figure, make a cut less likely when the latest decision is announced on Thursday.
There appears to be more caution in the Bank’s approach than earlier this year when several cuts were expected. (source – The Negotiator)
Property of the Month
Wiston £399,950
A well presented four bedroom detached dormer bungalow situated between the villages of Clarbeston Road and Wiston benefiting from solar panels, air source heat pump and countryside views extending across to Preseli Hills. The accommodation briefly comprises; porch hallway, lounge, dining room, kitchen / breakfast room, cloakroom, family bathroom, two bedrooms on the ground floor and two further bedrooms on the first floor. Externally; The property is set in approx 1/3 acre with lawn gardens, veg garden, driveway parking and two workshops. EPC – A
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Haverfordwest – End of terrace house
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